Roku (NASDAQ:ROKU) Stock Price Up 1.4% - Still a Buy?

Roku, Inc. (NASDAQ:ROKU - Get Free Report) shares traded up 1.4% during mid-day trading on Thursday . The stock traded as high as $84.26 and last traded at $83.57. 428,970 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 4,408,219 shares. The stock had previously closed at $82.42.

Analysts Set New Price Targets

Several brokerages have recently commented on ROKU. Wolfe Research upgraded Roku from a "peer perform" rating to an "outperform" rating and set a $93.00 target price on the stock in a report on Thursday, September 12th. Benchmark reiterated a "buy" rating and set a $105.00 price target on shares of Roku in a research report on Thursday, September 12th. Bank of America raised their price objective on shares of Roku from $75.00 to $90.00 and gave the company a "buy" rating in a research report on Monday, September 30th. Jefferies Financial Group reduced their target price on shares of Roku from $60.00 to $55.00 and set an "underperform" rating on the stock in a research report on Friday, November 1st. Finally, Loop Capital raised their price target on shares of Roku from $70.00 to $80.00 and gave the company a "hold" rating in a report on Monday. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Roku has a consensus rating of "Moderate Buy" and an average price target of $83.81.

Roku Trading Down 0.6 %

The firm has a market cap of $11.89 billion, a P/E ratio of -68.25 and a beta of 2.06. The firm's 50 day moving average is $74.86 and its two-hundred day moving average is $66.70.

Roku (NASDAQ:ROKU - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share 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 company had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.02 billion. During the same period last year, the firm posted ($2.33) earnings per share. The business's quarterly revenue was up 16.5% compared to the same quarter last year. Analysts predict that Roku, Inc. will post -1.1 EPS for the current fiscal year.

Insider Buying and Selling at Roku

In related news, CFO Dan Jedda sold 1,000 shares of the firm's stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $75.00, for a total transaction of $75,000.00. Following the sale, the chief financial officer now directly owns 65,555 shares in the company, valued at $4,916,625. This trade represents a 1.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of the company's stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $82.64, for a total transaction of $2,066,000.00. Following the completion of the transaction, the chief executive officer now directly owns 26,538 shares of the company's stock, valued at approximately $2,193,100.32. The trade was a 48.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 73,096 shares of company stock valued at $5,653,823. Company insiders own 13.98% of the company's stock.

Institutional Trading of Roku

Hedge funds and other institutional investors have recently modified their holdings of the company. Raelipskie Partnership bought a new position in shares of Roku during the third quarter worth about $32,000. EverSource Wealth Advisors LLC boosted its position in Roku by 123.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company's stock worth $40,000 after acquiring an additional 375 shares during the last quarter. Future Financial Wealth Managment LLC bought a new position in shares of Roku during the 3rd quarter worth approximately $43,000. GS Investments Inc. raised its holdings in shares of Roku by 33.4% in the third quarter. GS Investments Inc. now owns 587 shares of the company's stock valued at $44,000 after purchasing an additional 147 shares during the last quarter. Finally, Cedar Wealth Management LLC bought a new stake in shares of Roku in the second quarter worth $48,000. Institutional investors and hedge funds 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.