Roku (NASDAQ:ROKU) Trading 0% Higher – Should You Buy?

Shares of Roku, Inc. (NASDAQ:ROKU) rose 0% during mid-day trading on Friday . The company traded as high as $82.96 and last traded at $81.94. Approximately 341,550 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 4,397,279 shares. The stock had previously closed at $81.90.

Analyst Upgrades and Downgrades

ROKU has been the topic of several research analyst reports. UBS Group assumed coverage on Roku in a research note on Friday, November 22nd. They set a “neutral” rating and a $73.00 price target on the stock. Guggenheim upgraded shares of Roku from a “neutral” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Friday, August 23rd. JPMorgan Chase & Co. raised their target price on shares of Roku from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Benchmark reissued a “buy” rating and issued a $105.00 price target on shares of Roku in a report on Thursday, September 12th. Finally, Wells Fargo & Company lifted their target price on shares of Roku from $72.00 to $74.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $83.81.

Roku Trading Up 0.8 %

The firm has a market cap of $11.98 billion, a PE ratio of -68.28 and a beta of 2.06. The firm has a 50 day moving average price of $74.86 and a 200-day moving average price of $66.70.

Roku (NASDAQ:ROKU) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.35) by $0.29. Roku had a negative return on equity of 7.22% and a negative net margin of 4.42%. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter last year, the company posted ($2.33) earnings per share. The business’s quarterly revenue was up 16.5% compared to the same quarter last year. Equities analysts forecast that Roku, Inc. will post -1.1 earnings per share for the current fiscal year.

Insider Buying and Selling at Roku

In other news, insider Charles Collier sold 10,771 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $71.14, for a total value of $766,248.94. Following the completion of the transaction, the insider now owns 3,790 shares in the company, valued at $269,620.60. This trade represents a 73.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Dan Jedda sold 1,000 shares of the stock in a transaction dated Tuesday, September 17th. The shares were 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 of the company’s stock, valued at approximately $4,087,933.11. This trade represents a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 73,096 shares of company stock worth $5,653,823. 13.98% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Sequoia Financial Advisors LLC raised its holdings in Roku by 6.4% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 4,519 shares of the company’s stock valued at $271,000 after acquiring an additional 270 shares during the last quarter. Diversified Trust Co purchased a new stake in shares of Roku during the 2nd quarter valued at $546,000. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Roku by 19.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 6,836 shares of the company’s stock worth $410,000 after buying an additional 1,131 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Roku by 36.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 147,691 shares of the company’s stock worth $8,851,000 after buying an additional 39,111 shares during the period. Finally, Blue Trust Inc. increased its stake in Roku by 3,310.5% during the second quarter. Blue Trust Inc. now owns 2,592 shares of the company’s stock worth $169,000 after acquiring an additional 2,516 shares during 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.