Roku (NASDAQ:ROKU) Trading Up 2.7% – Time to Buy?

Shares of Roku, Inc. (NASDAQ:ROKU) rose 2.7% during trading on Thursday . The company traded as high as $75.10 and last traded at $74.07. Approximately 1,072,267 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 3,676,265 shares. The stock had previously closed at $72.14.

Wall Street Analyst Weigh In

ROKU has been the topic of a number of research reports. JMP Securities boosted their price objective on shares of Roku from $95.00 to $115.00 and gave the stock a “market outperform” rating in a research report on Friday, February 14th. Bank of America upped their price objective on shares of Roku from $90.00 to $120.00 and gave the company a “buy” rating in a report on Friday, February 14th. Citigroup upped their price objective on shares of Roku from $70.00 to $103.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Moffett Nathanson upgraded shares of Roku from a “sell” rating to a “neutral” rating and set a $70.00 price target on the stock in a research note on Tuesday, March 4th. Finally, Jefferies Financial Group upgraded shares of Roku from an “underperform” rating to a “hold” rating and upped their price target for the company from $55.00 to $100.00 in a research note on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Roku has a consensus rating of “Moderate Buy” and an average price target of $96.71.

Roku Trading Up 2.4 %

The firm has a 50 day moving average of $81.09 and a 200-day moving average of $77.09. The company has a market cap of $10.78 billion, a P/E ratio of -83.19 and a beta of 2.12.

Roku (NASDAQ:ROKU) last released its quarterly earnings data on Thursday, February 13th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.20. Roku had a negative return on equity of 5.34% and a negative net margin of 3.15%. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.15 billion. Equities analysts predict that Roku, Inc. will post -0.3 EPS for the current fiscal year.

Insider Activity at Roku

In other news, insider Charles Collier sold 7,181 shares of the stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $78.25, for a total value of $561,913.25. Following the transaction, the insider now directly owns 7,380 shares of the company’s stock, valued at approximately $577,485. This represents a 49.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Matthew C. Banks sold 1,906 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $80.36, for a total value of $153,166.16. Following the transaction, the chief accounting officer now owns 7,256 shares in the company, valued at $583,092.16. This represents a 20.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 92,308 shares of company stock worth $8,213,436 in the last quarter. 13.98% of the stock is owned by company insiders.

Institutional Investors Weigh In On Roku

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Entropy Technologies LP grew its stake in shares of Roku by 264.4% in the fourth quarter. Entropy Technologies LP now owns 25,525 shares of the company’s stock valued at $1,898,000 after buying an additional 18,520 shares in the last quarter. Holocene Advisors LP purchased a new position in Roku in the third quarter valued at $129,015,000. National Bank of Canada FI boosted its holdings in Roku by 11,626.3% in the third quarter. National Bank of Canada FI now owns 150,800 shares of the company’s stock valued at $11,259,000 after purchasing an additional 149,514 shares during the period. EULAV Asset Management boosted its holdings in Roku by 59.1% in the third quarter. EULAV Asset Management now owns 183,000 shares of the company’s stock valued at $13,663,000 after purchasing an additional 68,000 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Roku by 3.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 990,867 shares of the company’s stock worth $73,661,000 after buying an additional 34,898 shares during the last quarter. Institutional investors and hedge funds own 86.30% of the company’s stock.

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.