Roku (NASDAQ:ROKU) Trading 0.6% Higher – Should You Buy?

Shares of Roku, Inc. (NASDAQ:ROKU) shot up 0.6% during mid-day trading on Wednesday . The company traded as high as $67.62 and last traded at $66.71. 717,952 shares were traded during mid-day trading, a decline of 84% from the average session volume of 4,400,405 shares. The stock had previously closed at $66.31.

Wall Street Analysts Forecast Growth

ROKU has been the topic of several research reports. Baird R W raised Roku from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 18th. Wedbush lifted their price target on Roku from $75.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Jefferies Financial Group decreased 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. JPMorgan Chase & Co. boosted their target price on shares of Roku from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Finally, Piper Sandler increased their price target on shares of Roku from $60.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $84.14.

Roku Stock Up 2.1 %

The stock has a market capitalization of $9.83 billion, a PE ratio of -55.59 and a beta of 2.07. The firm’s fifty day moving average price is $74.16 and its two-hundred day moving average price is $65.25.

Roku (NASDAQ:ROKU) last announced its 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 net margin of 4.42% and a negative return on equity of 7.22%. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same period in the previous year, the business earned ($2.33) EPS. The company’s quarterly revenue was up 16.5% compared to the same quarter last year. As a group, analysts predict that Roku, Inc. will post -1.1 EPS for the current year.

Insider Transactions at Roku

In other Roku news, CFO Dan Jedda sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $75.33, for a total transaction of $75,330.00. Following the sale, the chief financial officer now owns 54,267 shares in the company, valued at approximately $4,087,933.11. This trade represents a 1.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Matthew C. Banks sold 8,693 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $71.44, for a total transaction of $621,027.92. Following the completion of the transaction, the chief accounting officer now owns 7,264 shares of the company’s stock, valued at approximately $518,940.16. The trade was a 54.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 90,240 shares of company stock worth $6,729,582 in the last quarter. Company insiders own 13.98% of the company’s stock.

Institutional Trading of Roku

Several institutional investors and hedge funds have recently modified their holdings of the company. GS Investments Inc. raised its holdings in Roku by 33.4% during the third quarter. GS Investments Inc. now owns 587 shares of the company’s stock valued at $44,000 after acquiring an additional 147 shares during the period. PFG Investments LLC grew its position in shares of Roku by 3.7% during the third quarter. PFG Investments LLC now owns 4,157 shares of the company’s stock worth $310,000 after purchasing an additional 150 shares in the last quarter. True Vision MN LLC raised its stake in Roku by 3.1% during the 3rd quarter. True Vision MN LLC now owns 5,018 shares of the company’s stock valued at $375,000 after purchasing an additional 152 shares during the period. Mcdonald Partners LLC lifted its holdings in 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 purchasing an additional 175 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its holdings in Roku by 4.5% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 4,721 shares of the company’s stock valued at $352,000 after buying an additional 202 shares in the last quarter. 86.30% of the stock is currently owned by 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.