Roku (NASDAQ:ROKU) Shares Up 2.6% - Time to Buy?

Roku, Inc. (NASDAQ:ROKU - Get Free Report)'s stock price rose 2.6% on Friday . The company traded as high as $80.45 and last traded at $80.43. Approximately 681,575 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 4,360,282 shares. The stock had previously closed at $78.43.

Analysts Set New Price Targets

A number of research firms recently issued reports on ROKU. Wedbush reaffirmed an "outperform" rating and issued a $100.00 price target (up from $85.00) on shares of Roku in a report on Friday, December 6th. Citigroup boosted their target price on shares of Roku from $60.00 to $77.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 25th. Macquarie reissued an "outperform" rating and set a $90.00 price target on shares of Roku in a research note on Thursday, October 31st. Benchmark reissued a "buy" rating and issued a $105.00 price target on shares of Roku in a report on Thursday, September 12th. Finally, Baird R W raised Roku from a "hold" rating to a "strong-buy" rating in a report on Monday, November 18th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $83.81.

Roku Stock Up 2.8 %

The company's fifty day simple moving average is $75.28 and its two-hundred day simple moving average is $67.55. The company has a market capitalization of $11.70 billion, a price-to-earnings ratio of -67.16 and a beta of 2.06.

Roku (NASDAQ:ROKU - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($0.06) EPS for the quarter, beating analysts' consensus estimates of ($0.35) by $0.29. The business had revenue of $1.06 billion during the quarter, compared to analysts' expectations of $1.02 billion. Roku had a negative net margin of 4.42% and a negative return on equity of 7.22%. The firm's quarterly revenue was up 16.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($2.33) EPS. Equities research analysts expect that Roku, Inc. will post -1.1 earnings per share for the current year.

Insider Activity

In other Roku news, CFO Dan Jedda sold 1,000 shares of Roku stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $76.25, for a total value of $76,250.00. Following the sale, the chief financial officer now owns 53,267 shares of the company's stock, valued at $4,061,608.75. This trade represents a 1.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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 value of $766,248.94. Following the transaction, the insider now directly owns 3,790 shares of the company's stock, valued at $269,620.60. This represents a 73.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 73,096 shares of company stock worth $5,661,223 in the last 90 days. Corporate insiders own 13.98% of the company's stock.

Institutional Investors Weigh In On Roku

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