Roku (NASDAQ:ROKU) Trading 2.5% Higher - Time to Buy?

Roku, Inc. (NASDAQ:ROKU - Get Free Report) shares rose 2.5% on Monday . The company traded as high as $81.57 and last traded at $80.21. Approximately 1,383,796 shares changed hands during mid-day trading, a decline of 62% from the average daily volume of 3,682,403 shares. The stock had previously closed at $78.29.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ROKU shares. Citigroup upgraded Roku from a "neutral" rating to an "outperform" rating in a research report on Sunday. JPMorgan Chase & Co. raised their target price on Roku from $92.00 to $115.00 and gave the stock an "overweight" rating in a research note on Friday, February 14th. Compass Point initiated coverage on shares of Roku in a research report on Sunday. They set a "buy" rating on the stock. Loop Capital raised their price objective on shares of Roku from $70.00 to $80.00 and gave the stock a "hold" rating in a research report on Monday, December 9th. Finally, JMP Securities lifted their target price on shares of Roku from $95.00 to $115.00 and gave the stock a "market outperform" rating in a research note on Friday, February 14th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $96.71.

Roku Price Performance

The firm has a market capitalization of $11.23 billion, a price-to-earnings ratio of -86.45 and a beta of 2.12. The firm has a 50 day moving average price of $81.15 and a 200-day moving average price of $77.55.

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Roku (NASDAQ:ROKU - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.44) by $0.20. Roku had a negative return on equity of 5.34% and a negative net margin of 3.15%. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.15 billion. Equities research analysts predict that Roku, Inc. will post -0.3 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Dan Jedda sold 1,000 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 transaction of $75,000.00. Following the transaction, the chief financial officer now directly owns 68,843 shares in the company, valued at $5,163,225. The trade was a 1.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Anthony J. Wood sold 4,600 shares of the stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $75.00, for a total transaction of $345,000.00. Following the completion of the transaction, the chief executive officer now owns 6,243 shares of the company's stock, valued at $468,225. This represents a 42.42 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 97,908 shares of company stock worth $8,633,436. Corporate insiders own 13.98% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. FMR LLC boosted its holdings in shares of Roku by 31.7% during the fourth quarter. FMR LLC now owns 19,183,942 shares of the company's stock worth $1,426,134,000 after purchasing an additional 4,613,570 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of 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 purchasing an additional 185,676 shares during the period. Marshall Wace LLP boosted its position in Roku by 663.9% in 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 during the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in Roku by 10.5% in 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 purchasing an additional 215,841 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Roku by 2.7% during the 4th 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 during the last quarter. 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.