Roku (NASDAQ:ROKU) Shares Up 2.1% – Should You Buy?

Roku, Inc. (NASDAQ:ROKU)’s share price was up 2.1% during mid-day trading on Wednesday . The company traded as high as $78.40 and last traded at $78.20. Approximately 590,852 shares changed hands during trading, a decline of 87% from the average daily volume of 4,413,348 shares. The stock had previously closed at $76.62.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on ROKU shares. Wolfe Research raised shares of Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 target price for the company in a research note on Thursday, September 12th. Wedbush boosted their target price on shares of Roku from $75.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Jefferies Financial Group reduced their target price on shares of Roku from $60.00 to $55.00 and set an “underperform” rating for the company in a research note on Friday, November 1st. Needham & Company LLC reissued a “buy” rating and set a $100.00 target price on shares of Roku in a research note on Thursday, October 31st. Finally, JPMorgan Chase & Co. boosted their price target on shares of Roku from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $83.95.

Roku Stock Down 1.4 %

The company’s fifty day moving average price is $73.89 and its two-hundred day moving average price is $64.44.

Roku (NASDAQ:ROKU) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.06) EPS for the quarter, topping 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 firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the prior year, the firm earned ($2.33) EPS. The company’s revenue was up 16.5% on a year-over-year basis. On average, research analysts expect that Roku, Inc. will post -1.1 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Dan Jedda sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $75.33, for a total value of $75,330.00. Following the transaction, the chief financial officer now owns 54,267 shares of the company’s stock, valued at approximately $4,087,933.11. 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, CFO Dan Jedda sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $75.33, for a total value of $75,330.00. Following the transaction, the chief financial officer now owns 54,267 shares of the company’s stock, valued at approximately $4,087,933.11. 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. Also, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $77.20, for a total transaction of $1,930,000.00. Following the completion of the transaction, the chief executive officer now directly owns 5,020 shares in the company, valued at $387,544. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 69,776 shares of company stock valued at $5,267,305 in the last 90 days. 13.98% of the stock is currently owned by insiders.

Institutional Trading of Roku

Hedge funds have recently modified their holdings of the company. EverSource Wealth Advisors LLC raised its position in shares of Roku by 123.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company’s stock valued at $40,000 after acquiring an additional 375 shares during the period. Future Financial Wealth Managment LLC acquired a new stake in Roku during the 3rd quarter worth approximately $43,000. GS Investments Inc. raised its holdings in Roku by 33.4% during the 3rd quarter. GS Investments Inc. now owns 587 shares of the company’s stock worth $44,000 after buying an additional 147 shares during the period. Cedar Wealth Management LLC acquired a new stake in Roku during the 2nd quarter worth approximately $48,000. Finally, Natixis acquired a new stake in Roku during the 1st quarter worth approximately $53,000. 86.30% of the stock is currently owned by institutional investors and hedge funds.

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.