Roku (NASDAQ:ROKU) Trading Up 0.8% – Should You Buy?

Roku, Inc. (NASDAQ:ROKU)’s stock price was up 0.8% during mid-day trading on Wednesday . The stock traded as high as $84.84 and last traded at $83.43. Approximately 957,885 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 2,859,426 shares. The stock had previously closed at $82.75.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ROKU. UBS Group assumed coverage on shares of Roku in a report on Friday, November 22nd. They set a “neutral” rating and a $73.00 price objective for the company. Wedbush reissued an “outperform” rating and issued a $100.00 target price on shares of Roku in a research report on Monday. Baird R W upgraded shares of Roku from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 18th. Moffett Nathanson downgraded Roku from a “neutral” rating to a “sell” rating and set a $55.00 target price on the stock. in a report on Friday, January 10th. Finally, Jefferies Financial Group decreased their price target on Roku from $60.00 to $55.00 and set an “underperform” rating for the company in a research note on Friday, November 1st. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $83.18.

Roku Trading Up 2.7 %

The stock’s fifty day moving average price is $79.99 and its 200 day moving average price is $73.03. The stock has a market cap of $12.33 billion, a P/E ratio of -70.81 and a beta of 2.05.

Insider Buying and Selling at Roku

In related news, insider Charles Collier sold 10,771 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was 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 directly owns 3,790 shares in the company, valued at approximately $269,620.60. The trade was a 73.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $82.64, for a total transaction of $2,066,000.00. Following the transaction, the chief executive officer now directly owns 26,538 shares in the company, valued at $2,193,100.32. This represents a 48.51 % 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 worth $5,712,912. 13.98% of the stock is owned by corporate insiders.

Institutional Trading of Roku

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. boosted its holdings in shares of Roku by 369.9% during the 4th quarter. Geneos Wealth Management Inc. now owns 343 shares of the company’s stock valued at $25,000 after purchasing an additional 270 shares during the last quarter. Vision Financial Markets LLC purchased a new position in Roku in the fourth quarter worth about $30,000. Raelipskie Partnership bought a new stake in Roku during the third quarter worth approximately $32,000. Game Plan Financial Advisors LLC bought a new stake in Roku during the fourth quarter worth approximately $37,000. Finally, Harvest Fund Management Co. Ltd lifted its stake in shares of Roku by 4,091.7% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 503 shares of the company’s stock valued at $37,000 after purchasing an additional 491 shares during the last quarter. Institutional investors 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.