Roku (NASDAQ:ROKU) Trading Up 1.3% – Time to Buy?

Shares of Roku, Inc. (NASDAQ:ROKU) rose 1.3% during mid-day trading on Friday . The stock traded as high as $76.56 and last traded at $75.54. Approximately 1,279,375 shares were traded during mid-day trading, a decline of 66% from the average daily volume of 3,808,468 shares. The stock had previously closed at $74.60.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. raised their price target on Roku from $75.00 to $85.00 and gave the company an “overweight” rating in a report on Tuesday, June 3rd. Guggenheim reissued a “buy” rating and issued a $100.00 target price on shares of Roku in a report on Friday, May 2nd. Compass Point began coverage on shares of Roku in a research note on Sunday, March 23rd. They set a “buy” rating on the stock. Moffett Nathanson upgraded shares of Roku from a “sell” rating to a “neutral” rating and set a $70.00 price objective for the company in a research report on Tuesday, March 4th. Finally, Pivotal Research reduced their target price on shares of Roku from $125.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.37.

Roku Stock Up 5.3%

The firm has a market cap of $11.46 billion, a PE ratio of -88.26 and a beta of 2.09. The business has a 50 day simple moving average of $65.61 and a two-hundred day simple moving average of $74.48.

Roku (NASDAQ:ROKU) last posted its quarterly earnings results on Thursday, May 1st. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.08. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter last year, the firm posted ($0.35) EPS. The firm’s revenue was up 15.8% compared to the same quarter last year. Equities analysts forecast that Roku, Inc. will post -0.3 earnings per share for the current year.

Insider Activity

In other Roku news, CEO Anthony J. Wood sold 4,600 shares of the business’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $75.00, for a total value of $345,000.00. Following the completion of the transaction, the chief executive officer now directly owns 6,243 shares in the company, valued at approximately $468,225. The trade was a 42.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Matthew C. Banks sold 629 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $72.98, for a total transaction of $45,904.42. Following the sale, the chief accounting officer now directly owns 8,555 shares of the company’s stock, valued at approximately $624,343.90. The trade was a 6.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,823 shares of company stock worth $2,908,615. 13.98% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Roku

A number of hedge funds and other institutional investors have recently bought and sold shares of ROKU. FMR LLC lifted its holdings in shares of Roku by 31.7% during the 4th quarter. FMR LLC now owns 19,183,942 shares of the company’s stock valued at $1,426,134,000 after purchasing an additional 4,613,570 shares during the last quarter. Marshall Wace LLP increased its position in Roku by 663.9% during the 4th quarter. Marshall Wace LLP now owns 2,335,813 shares of the company’s stock valued at $173,644,000 after buying an additional 2,030,036 shares in the last quarter. Acadian Asset Management LLC raised its stake in Roku by 456.7% in the first quarter. Acadian Asset Management LLC now owns 1,905,779 shares of the company’s stock valued at $134,222,000 after buying an additional 1,563,449 shares during the last quarter. Cadian Capital Management LP acquired a new stake in Roku in the fourth quarter worth about $87,632,000. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in Roku by 505.3% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,296,774 shares of the company’s stock worth $96,402,000 after acquiring an additional 1,082,548 shares in the last quarter. Hedge funds and other 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.