Roku (NASDAQ:ROKU) Trading Up 0.3% – Should You Buy?

Roku, Inc. (NASDAQ:ROKU) shot up 0.3% during trading on Thursday . The stock traded as high as $82.10 and last traded at $81.92. 369,813 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 2,675,147 shares. The stock had previously closed at $81.65.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ROKU. Needham & Company LLC reissued a “buy” rating and issued a $100.00 target price on shares of Roku in a research note on Tuesday, January 7th. JMP Securities reissued a “market outperform” rating and set a $95.00 price objective on shares of Roku in a report on Monday. Morgan Stanley increased their target price on Roku from $60.00 to $65.00 and gave the stock an “underweight” rating in a report on Tuesday, October 29th. Moffett Nathanson downgraded shares of Roku from a “neutral” rating to a “sell” rating and set a $55.00 price objective for the company. in a report on Friday, January 10th. Finally, Robert W. Baird upgraded shares of Roku from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $70.00 to $90.00 in a research report on Monday, November 18th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Roku presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.18.

Roku Stock Performance

The company has a market capitalization of $11.83 billion, a price-to-earnings ratio of -67.91 and a beta of 2.05. The business’s 50 day moving average price is $79.25 and its two-hundred day moving average price is $72.42.

Insider Buying and Selling at Roku

In other news, insider Charles Collier sold 10,771 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $71.14, for a total transaction of $766,248.94. Following the completion of the transaction, the insider now owns 3,790 shares in the company, valued at approximately $269,620.60. This trade represents a 73.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Dan Jedda sold 1,000 shares of Roku stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $77.18, for a total transaction of $77,180.00. Following the completion of the transaction, the chief financial officer now directly owns 63,555 shares in the company, valued at $4,905,174.90. This represents a 1.55 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 72,885 shares of company stock valued at $5,712,912. 13.98% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Roku

Hedge funds have recently modified their holdings of the stock. Holocene Advisors LP bought a new stake in shares of Roku in the 3rd quarter valued at approximately $129,015,000. Westfield Capital Management Co. LP lifted its stake in Roku by 126.1% in the third quarter. Westfield Capital Management Co. LP now owns 1,535,576 shares of the company’s stock valued at $114,646,000 after acquiring an additional 856,401 shares during the last quarter. Point72 Asset Management L.P. grew its position in Roku by 352.5% in the third quarter. Point72 Asset Management L.P. now owns 651,658 shares of the company’s stock worth $48,653,000 after acquiring an additional 507,643 shares in the last quarter. JAT Capital Mgmt LP increased its stake in shares of Roku by 470.2% during the 3rd quarter. JAT Capital Mgmt LP now owns 540,577 shares of the company’s stock worth $40,359,000 after purchasing an additional 445,777 shares during the last quarter. Finally, FMR LLC increased its position 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 hedge funds and other institutional investors.

Roku Company Profile

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.