Roku (NASDAQ:ROKU) Trading Up 0% – Still a Buy?

Roku, Inc. (NASDAQ:ROKU) shares rose 0% on Friday . The company traded as high as $82.96 and last traded at $81.94. Approximately 341,550 shares traded hands during trading, a decline of 92% from the average daily volume of 4,397,279 shares. The stock had previously closed at $81.90.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ROKU. Jefferies Financial Group reduced their target price on Roku from $60.00 to $55.00 and set an “underperform” rating for the company in a research note on Friday, November 1st. Benchmark reissued a “buy” rating and set a $105.00 target price on shares of Roku in a report on Thursday, September 12th. Macquarie reaffirmed an “outperform” rating and issued a $90.00 price target on shares of Roku in a report on Thursday, October 31st. UBS Group initiated coverage on shares of Roku in a research note on Friday, November 22nd. They set a “neutral” rating and a $73.00 price objective on the stock. Finally, Needham & Company LLC restated a “buy” rating and issued a $100.00 target price on shares of Roku in a research note on Wednesday, December 4th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Roku currently has an average rating of “Moderate Buy” and an average price target of $83.81.

Roku Stock Up 0.8 %

The firm has a market capitalization of $11.98 billion, a price-to-earnings ratio of -68.28 and a beta of 2.06. The stock’s 50 day moving average price is $74.86 and its two-hundred day moving average price is $66.70.

Roku (NASDAQ:ROKU) last posted its earnings results on Wednesday, October 30th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.29. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.02 billion. Roku had a negative net margin of 4.42% and a negative return on equity of 7.22%. The business’s quarterly revenue was up 16.5% on a year-over-year basis. During the same period in the prior year, the business posted ($2.33) earnings per share. On average, equities analysts expect that Roku, Inc. will post -1.1 EPS for the current fiscal year.

Insiders Place Their Bets

In other Roku news, CFO Dan Jedda sold 1,000 shares of Roku stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $75.33, for a total value of $75,330.00. Following the transaction, the chief financial officer now directly owns 54,267 shares of the company’s stock, valued at $4,087,933.11. The trade was a 1.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $82.64, for a total transaction of $2,066,000.00. Following the completion of the sale, the chief executive officer now owns 26,538 shares in the company, valued at approximately $2,193,100.32. The trade was a 48.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 73,096 shares of company stock valued at $5,653,823 over the last 90 days. 13.98% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Roku

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Holocene Advisors LP bought a new position in Roku during the third quarter worth about $129,015,000. Westfield Capital Management Co. LP increased its position in shares of Roku by 126.1% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,535,576 shares of the company’s stock worth $114,646,000 after purchasing an additional 856,401 shares during the last quarter. Point72 Asset Management L.P. raised its stake in shares of Roku by 352.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 651,658 shares of the company’s stock worth $48,653,000 after purchasing an additional 507,643 shares in the last quarter. JAT Capital Mgmt LP grew its stake in shares of Roku by 470.2% in the third quarter. JAT Capital Mgmt LP now owns 540,577 shares of the company’s stock valued at $40,359,000 after buying an additional 445,777 shares in the last quarter. Finally, FMR LLC increased its holdings in Roku by 1.7% during the third quarter. FMR LLC now owns 14,570,372 shares of the company’s stock worth $1,087,824,000 after buying an additional 244,793 shares during the last quarter. 86.30% of the stock is owned by institutional investors.

About Roku

Roku, Inc, together with its subsidiaries, operates a TV streaming platform in the United states and internationally. The company operates in two segments, Platform and Devices. Its streaming platform allows users to find and access TV shows, movies, news, sports, and others. The Platform segment offers digital advertising, including direct and programmatic video advertising, media and entertainment promotional spending, and related services; and streaming services distribution, such as subscription and transaction revenue shares, and sale of premium subscriptions and branded app buttons on remote controls.