Roku (NASDAQ:ROKU) Shares Up 1.8% – Time to Buy?

Roku, Inc. (NASDAQ:ROKU)’s stock price rose 1.8% during mid-day trading on Friday . The stock traded as high as $76.94 and last traded at $76.49. Approximately 511,489 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 2,791,463 shares. The stock had previously closed at $75.16.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on ROKU shares. Jefferies Financial Group dropped their price objective on Roku from $60.00 to $55.00 and set an “underperform” rating for the company in a report on Friday, November 1st. Bank of America increased their price target on shares of Roku from $75.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Morgan Stanley boosted their price objective on shares of Roku from $60.00 to $65.00 and gave the company an “underweight” rating in a report on Tuesday, October 29th. Rosenblatt Securities increased their target price on shares of Roku from $61.00 to $86.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, Robert W. Baird raised shares of Roku from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $70.00 to $90.00 in a report on Monday, November 18th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $82.62.

Roku Trading Up 1.0 %

The company has a market capitalization of $11.02 billion, a price-to-earnings ratio of -63.24 and a beta of 2.05. The stock’s 50 day moving average price is $76.74 and its 200 day moving average price is $70.72.

Roku (NASDAQ:ROKU) last posted its quarterly earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.29. Roku had a negative return on equity of 7.22% and a negative net margin of 4.42%. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same period last year, the company earned ($2.33) earnings per share. The business’s revenue was up 16.5% compared to the same quarter last year. On average, research analysts expect that Roku, Inc. will post -1.09 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Charles Collier sold 10,771 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $71.14, for a total transaction of $766,248.94. Following the transaction, the insider now directly owns 3,790 shares of the company’s stock, valued at approximately $269,620.60. The trade was a 73.97 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Matthew C. Banks sold 8,693 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $71.44, for a total value of $621,027.92. Following the sale, the chief accounting officer now directly owns 7,264 shares of the company’s stock, valued at $518,940.16. This represents a 54.48 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 73,095 shares of company stock valued at $5,726,218. 13.98% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Roku

Several large investors have recently modified their holdings of the stock. GS Investments Inc. grew its stake in Roku by 33.4% in the 3rd quarter. GS Investments Inc. now owns 587 shares of the company’s stock valued at $44,000 after buying an additional 147 shares during the last quarter. PFG Investments LLC grew its position in shares of Roku by 3.7% in the third quarter. PFG Investments LLC now owns 4,157 shares of the company’s stock valued at $310,000 after purchasing an additional 150 shares during the last quarter. True Vision MN LLC increased its stake in shares of Roku by 3.1% during the third quarter. True Vision MN LLC now owns 5,018 shares of the company’s stock worth $375,000 after purchasing an additional 152 shares during the period. Sequoia Financial Advisors LLC boosted its stake in Roku by 4.5% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 4,721 shares of the company’s stock valued at $352,000 after purchasing an additional 202 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in Roku by 11.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,207 shares of the company’s stock valued at $165,000 after buying an additional 222 shares in 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.