Roku (NASDAQ:ROKU) Trading 0.5% Higher – Time to Buy?

Roku, Inc. (NASDAQ:ROKU) shares shot up 0.5% during mid-day trading on Tuesday . The company traded as high as $78.11 and last traded at $76.76. 758,669 shares traded hands during trading, a decline of 83% from the average session volume of 4,407,908 shares. The stock had previously closed at $76.36.

Analysts Set New Price Targets

Several brokerages recently commented on ROKU. Rosenblatt Securities reduced their target price on Roku from $89.00 to $61.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Wolfe Research raised shares of Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 price objective for the company in a report on Thursday, September 12th. Wedbush reissued an “outperform” rating and issued a $75.00 target price on shares of Roku in a research note on Friday, August 2nd. Wells Fargo & Company upgraded shares of Roku from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $50.00 to $72.00 in a research note on Thursday, September 5th. Finally, Bank of America upped their price objective on Roku from $75.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Roku currently has an average rating of “Hold” and a consensus price target of $81.24.

Roku Stock Performance

The firm’s 50-day moving average is $69.60 and its two-hundred day moving average is $62.62. The stock has a market cap of $11.09 billion, a P/E ratio of -19.29 and a beta of 2.08.

Roku (NASDAQ:ROKU) last released its earnings results on Thursday, August 1st. The company reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.21. The company had revenue of $968.18 million during the quarter, compared to the consensus estimate of $937.78 million. Roku had a negative return on equity of 21.03% and a negative net margin of 13.16%. The firm’s quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.76) earnings per share. As a group, research analysts forecast that Roku, Inc. will post -1.44 EPS for the current year.

Insider Activity

In related news, insider Gilbert Fuchsberg sold 1,693 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 38,602 shares of the company’s stock, valued at $2,485,582.78. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Roku news, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the transaction, the chief executive officer now owns 5,020 shares in the company, valued at approximately $376,500. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gilbert Fuchsberg sold 1,693 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $64.39, for a total value of $109,012.27. Following the completion of the sale, the insider now directly owns 38,602 shares of the company’s stock, valued at approximately $2,485,582.78. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 69,566 shares of company stock valued at $5,254,000. 13.98% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ROKU. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Roku by 24.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,349,067 shares of the company’s stock worth $478,939,000 after purchasing an additional 1,457,925 shares in the last quarter. Nikko Asset Management Americas Inc. grew its stake in Roku by 25.8% in the first quarter. Nikko Asset Management Americas Inc. now owns 7,091,891 shares of the company’s stock valued at $462,108,000 after acquiring an additional 1,455,408 shares during the period. Vanguard Group Inc. grew its stake in Roku by 3.3% in the fourth quarter. Vanguard Group Inc. now owns 11,853,947 shares of the company’s stock valued at $1,086,533,000 after acquiring an additional 380,409 shares during the period. Canada Pension Plan Investment Board raised its position in shares of Roku by 138.1% during the first quarter. Canada Pension Plan Investment Board now owns 342,400 shares of the company’s stock worth $22,314,000 after purchasing an additional 198,600 shares during the period. Finally, AQR Capital Management LLC raised its position in shares of Roku by 645.3% during the second quarter. AQR Capital Management LLC now owns 221,557 shares of the company’s stock worth $13,278,000 after purchasing an additional 191,831 shares during the period. Institutional investors and hedge funds own 86.30% of the company’s stock.

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.