Roku (NASDAQ:ROKU) Trading Up 1.1% – Time to Buy?

Roku, Inc. (NASDAQ:ROKU) was up 1.1% during mid-day trading on Thursday . The stock traded as high as $76.14 and last traded at $75.19. Approximately 470,928 shares traded hands during trading, a decline of 89% from the average daily volume of 4,310,560 shares. The stock had previously closed at $74.34.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Macquarie reaffirmed an “outperform” rating and issued a $90.00 target price on shares of Roku in a research report on Thursday, October 31st. Baird R W raised Roku from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 18th. Needham & Company LLC reiterated a “buy” rating and set a $100.00 target price on shares of Roku in a report on Wednesday, December 4th. UBS Group initiated coverage on shares of Roku in a report on Friday, November 22nd. They issued a “neutral” rating and a $73.00 price target on the stock. Finally, Moffett Nathanson upgraded shares of Roku from a “sell” rating to a “neutral” rating and set a $80.00 price objective for the company in a research note on Tuesday, October 1st. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Roku currently has a consensus rating of “Moderate Buy” and an average price target of $83.81.

Roku Stock Performance

The stock has a 50 day moving average price of $75.39 and a 200 day moving average price of $69.12. The company has a market cap of $11.24 billion, a P/E ratio of -64.48 and a beta of 2.06.

Roku (NASDAQ:ROKU) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $1.02 billion. During the same period in the previous year, the business earned ($2.33) earnings per share. Roku’s revenue for the quarter was up 16.5% compared to the same quarter last year. As a group, equities research analysts predict that Roku, Inc. will post -1.1 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Charles Collier sold 10,771 shares of Roku stock in a transaction 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 transaction, the insider now owns 3,790 shares in the company, valued at approximately $269,620.60. The trade was a 73.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $77.20, for a total value of $1,930,000.00. Following the transaction, the chief executive officer now directly owns 5,020 shares in the company, valued at approximately $387,544. This trade represents a 83.28 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 73,095 shares of company stock worth $5,661,038. Corporate insiders own 13.98% of the company’s stock.

Institutional Investors Weigh In On Roku

Several institutional investors have recently made changes to their positions in the company. Everence Capital Management Inc. bought a new position in shares of Roku in the 4th quarter valued at approximately $350,000. Franklin Resources Inc. raised its position in shares of Roku by 14.5% in the third quarter. Franklin Resources Inc. now owns 82,170 shares of the company’s stock valued at $6,275,000 after purchasing an additional 10,416 shares during the period. Sender Co & Partners Inc. acquired a new stake in shares of Roku in the third quarter worth $827,000. M&T Bank Corp boosted its holdings in shares of Roku by 19.1% during the 3rd quarter. M&T Bank Corp now owns 7,024 shares of the company’s stock worth $525,000 after buying an additional 1,126 shares during the period. Finally, Raelipskie Partnership acquired a new position in Roku in the 3rd quarter valued at $32,000. 86.30% of the stock is currently owned by institutional investors and hedge funds.

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.