Roku (NASDAQ:ROKU) Trading 1.4% Higher – Time to Buy?

Roku, Inc. (NASDAQ:ROKU)’s stock price traded up 1.4% during trading on Friday . The company traded as high as $69.92 and last traded at $68.57. 596,363 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 3,719,934 shares. The stock had previously closed at $67.63.

Analysts Set New Price Targets

ROKU has been the subject of a number of analyst reports. Wedbush reiterated an “outperform” rating and set a $100.00 price objective on shares of Roku in a report on Monday, February 10th. JPMorgan Chase & Co. lifted their price objective on shares of Roku from $92.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Loop Capital lifted their price objective on shares of Roku from $70.00 to $80.00 and gave the company a “hold” rating in a report on Monday, December 9th. Citigroup lifted their price objective on shares of Roku from $70.00 to $103.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Finally, Jefferies Financial Group upgraded shares of Roku from an “underperform” rating to a “hold” rating and lifted their price objective for the company from $55.00 to $100.00 in a report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Roku has a consensus rating of “Moderate Buy” and an average target price of $96.71.

Roku Stock Up 0.2 %

The firm has a market cap of $9.89 billion, a P/E ratio of -76.16 and a beta of 2.12. The firm’s 50-day simple moving average is $81.73 and its 200 day simple moving average is $77.05.

Roku (NASDAQ:ROKU) last announced its quarterly earnings data on Thursday, February 13th. The company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.44) by $0.20. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.15 billion. As a group, analysts forecast that Roku, Inc. will post -0.3 earnings per share for the current year.

Insider Activity

In other news, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $79.77, for a total value of $1,994,250.00. Following the sale, the chief executive officer now owns 26,538 shares of the company’s stock, valued at $2,116,936.26. The trade was a 48.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Matthew C. Banks sold 1,906 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $80.36, for a total transaction of $153,166.16. Following the completion of the sale, the chief accounting officer now directly owns 7,256 shares in the company, valued at approximately $583,092.16. This trade represents a 20.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 93,308 shares of company stock valued at $8,296,166 over the last quarter. Company insiders own 13.98% of the company’s stock.

Hedge Funds Weigh In On Roku

Several hedge funds have recently bought and sold shares of the company. FMR LLC grew its stake in Roku by 31.7% during the fourth quarter. FMR LLC now owns 19,183,942 shares of the company’s stock valued at $1,426,134,000 after acquiring an additional 4,613,570 shares in the last quarter. Vanguard Group Inc. grew its stake in Roku by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 12,249,091 shares of the company’s stock valued at $910,597,000 after acquiring an additional 185,676 shares in the last quarter. Marshall Wace LLP grew its stake in Roku by 663.9% during the fourth quarter. Marshall Wace LLP now owns 2,335,813 shares of the company’s stock valued at $173,644,000 after acquiring an additional 2,030,036 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its stake in Roku by 10.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,269,751 shares of the company’s stock valued at $168,734,000 after acquiring an additional 215,841 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Roku by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 2,147,259 shares of the company’s stock valued at $159,353,000 after acquiring an additional 56,820 shares in the last quarter. Hedge funds and other institutional investors own 86.30% of the company’s stock.

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.