Roku (NASDAQ:ROKU) Shares Up 0% - Still a Buy?

Roku, Inc. (NASDAQ:ROKU - Get Free Report) shares traded up 0% during mid-day trading on Wednesday . The stock traded as high as $82.83 and last traded at $82.36. 351,659 shares traded hands during trading, a decline of 87% from the average session volume of 2,708,599 shares. The stock had previously closed at $82.34.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Baird R W raised shares of Roku from a "hold" rating to a "strong-buy" rating in a research report on Monday, November 18th. UBS Group started coverage on Roku in a research report on Friday, November 22nd. They issued a "neutral" rating and a $73.00 price objective on the stock. Loop Capital upped their target price on Roku from $70.00 to $80.00 and gave the stock a "hold" rating in a research report on Monday, December 9th. JPMorgan Chase & Co. increased their target price on Roku from $90.00 to $92.00 and gave the company an "overweight" rating in a research note on Thursday, October 10th. Finally, Piper Sandler boosted their price target on Roku from $60.00 to $75.00 and gave the stock a "neutral" rating in a research report on Thursday, October 31st. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Roku has an average rating of "Moderate Buy" and an average price target of $83.18.

Roku Trading Down 3.0 %

The company has a 50-day moving average of $78.48 and a 200-day moving average of $72.02. The firm has a market capitalization of $12.02 billion, a price-to-earnings ratio of -68.97 and a beta of 2.05.

Roku (NASDAQ:ROKU - Get Free Report) last issued its 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 in the prior year, the company earned ($2.33) earnings per share. The firm's revenue was up 16.5% compared to the same quarter last year. On average, research analysts forecast that Roku, Inc. will post -1.09 earnings per share for the current year.

Insider Buying and Selling at Roku

In other Roku news, CFO Dan Jedda sold 1,000 shares of the business's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $82.73, for a total transaction of $82,730.00. Following the completion of the transaction, the chief financial officer now directly owns 64,555 shares of the company's stock, valued at $5,340,635.15. The trade was a 1.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Charles Collier sold 10,771 shares of the company's stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $71.14, for a total transaction of $766,248.94. Following the completion of the transaction, the insider now owns 3,790 shares of the company's stock, valued at approximately $269,620.60. This trade represents a 73.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 72,885 shares of company stock worth $5,712,912 over the last ninety days. Company insiders own 13.98% of the company's stock.

Hedge Funds Weigh In On Roku

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Holocene Advisors LP acquired a new position in Roku during the 3rd quarter worth $129,015,000. Westfield Capital Management Co. LP raised its stake in shares of Roku by 126.1% during the third quarter. Westfield Capital Management Co. LP now owns 1,535,576 shares of the company's stock valued at $114,646,000 after purchasing an additional 856,401 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings in Roku by 352.5% in the third quarter. Point72 Asset Management L.P. now owns 651,658 shares of the company's stock worth $48,653,000 after purchasing an additional 507,643 shares during the period. JAT Capital Mgmt LP grew its position in Roku by 470.2% in the 3rd quarter. JAT Capital Mgmt LP now owns 540,577 shares of the company's stock valued at $40,359,000 after buying an additional 445,777 shares in the last quarter. Finally, FMR LLC increased its stake in Roku by 1.7% during the 3rd quarter. FMR LLC now owns 14,570,372 shares of the company's stock valued at $1,087,824,000 after buying an additional 244,793 shares during the period. 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.