Roku (NASDAQ:ROKU) Shares Up 0.5% – Time to Buy?

Roku, Inc. (NASDAQ:ROKU)’s stock price rose 0.5% on Tuesday . The company traded as high as $78.11 and last traded at $76.76. Approximately 758,669 shares traded hands during trading, a decline of 83% from the average daily volume of 4,407,908 shares. The stock had previously closed at $76.36.

Analyst Ratings Changes

Several research firms recently issued reports on ROKU. Bank of America lifted 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. Citigroup boosted their target price on shares of Roku from $60.00 to $77.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price target on shares of Roku in a research report on Friday, September 13th. Guggenheim upgraded Roku from a “neutral” rating to a “buy” rating and set a $75.00 price target for the company in a research note on Friday, August 23rd. Finally, Wedbush reissued an “outperform” rating and issued a $75.00 price objective on shares of Roku in a research note on Friday, August 2nd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $81.24.

Roku Stock Performance

The firm has a market capitalization of $11.42 billion, a P/E ratio of -22.12 and a beta of 2.08. The stock has a 50 day moving average of $68.59 and a 200-day moving average of $62.42.

Roku (NASDAQ:ROKU) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.21. Roku had a negative net margin of 13.16% and a negative return on equity of 21.03%. The company had revenue of $968.18 million for the quarter, compared to analysts’ expectations of $937.78 million. During the same period in the prior year, the company posted ($0.76) EPS. Roku’s revenue was up 14.3% compared to the same quarter last year. As a group, sell-side analysts expect that Roku, Inc. will post -1.44 EPS for the current year.

Insider Activity

In other Roku news, insider Gilbert Fuchsberg sold 1,693 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total value of $109,012.27. Following the completion of the transaction, the insider now owns 38,602 shares in the company, valued at $2,485,582.78. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Gilbert Fuchsberg sold 1,693 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $64.39, for a total transaction of $109,012.27. Following the completion of the transaction, the insider now directly owns 38,602 shares in the company, valued at $2,485,582.78. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Dan Jedda sold 1,000 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $75.33, for a total transaction of $75,330.00. Following the completion of the transaction, the chief financial officer now directly owns 54,267 shares in the company, valued at approximately $4,087,933.11. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 68,566 shares of company stock worth $5,177,750. 13.98% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Roku

A number of institutional investors and hedge funds have recently bought and sold shares of ROKU. Mcdonald Partners LLC increased its holdings in shares of Roku by 0.9% in the 2nd quarter. Mcdonald Partners LLC now owns 19,608 shares of the company’s stock worth $1,175,000 after buying an additional 175 shares during the last quarter. Benjamin Edwards Inc. raised its position in Roku by 43.5% during the first quarter. Benjamin Edwards Inc. now owns 617 shares of the company’s stock valued at $40,000 after purchasing an additional 187 shares in the last quarter. Beacon Capital Management LLC lifted its stake in Roku by 17.7% during the first quarter. Beacon Capital Management LLC now owns 1,547 shares of the company’s stock worth $101,000 after purchasing an additional 233 shares during the last quarter. Arizona State Retirement System lifted its stake in Roku by 0.7% during the second quarter. Arizona State Retirement System now owns 34,656 shares of the company’s stock worth $2,077,000 after purchasing an additional 251 shares during the last quarter. Finally, Quarry LP boosted its holdings in shares of Roku by 160.2% in the 4th quarter. Quarry LP now owns 432 shares of the company’s stock worth $40,000 after purchasing an additional 266 shares in the last quarter. 86.30% of the stock is owned by hedge funds and other 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.