Roku (NASDAQ:ROKU) Shares Up 0.4% – Should You Buy?

Roku, Inc. (NASDAQ:ROKU) traded up 0.4% during trading on Thursday . The company traded as high as $79.95 and last traded at $79.90. 171,090 shares traded hands during trading, a decline of 96% from the average session volume of 4,333,516 shares. The stock had previously closed at $79.56.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Macquarie reissued an “outperform” rating and set a $90.00 target price on shares of Roku in a research note on Thursday, October 31st. Needham & Company LLC restated a “buy” rating and set a $100.00 price objective on shares of Roku in a report on Wednesday, December 4th. Robert W. Baird raised shares of Roku from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $70.00 to $90.00 in a research note on Monday, November 18th. Loop Capital increased their target price on Roku from $70.00 to $80.00 and gave the stock a “hold” rating in a report on Monday, December 9th. Finally, Bank of America boosted their price target on Roku from $75.00 to $90.00 and gave the company a “buy” rating in a report on Monday, September 30th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $83.81.

Roku Trading Up 0.0 %

The company has a market cap of $11.56 billion, a P/E ratio of -66.32 and a beta of 2.06. The company has a 50 day moving average price of $75.39 and a 200-day moving average price of $68.15.

Roku (NASDAQ:ROKU) last posted its earnings results on Wednesday, October 30th. The company reported ($0.06) EPS 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 firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the prior year, the business earned ($2.33) earnings per share. The business’s revenue for the quarter was up 16.5% compared to the same quarter last year. Equities analysts expect that Roku, Inc. will post -1.1 earnings per share for the current year.

Insider Activity

In related news, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $77.20, for a total value of $1,930,000.00. Following the transaction, the chief executive officer now directly owns 5,020 shares of the company’s stock, valued at $387,544. The trade was a 83.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Charles Collier sold 10,771 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $71.14, for a total transaction of $766,248.94. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders sold 73,096 shares of company stock valued at $5,661,223 over the last quarter. 13.98% of the stock is owned by company insiders.

Institutional Investors Weigh In On Roku

Institutional investors have recently modified their holdings of the company. Holocene Advisors LP bought a new stake in Roku during the third quarter valued at $129,015,000. Kessler Investment Group LLC lifted its stake in shares of Roku by 21.8% in the 3rd quarter. Kessler Investment Group LLC now owns 75,968 shares of the company’s stock valued at $5,672,000 after purchasing an additional 13,590 shares during the period. National Bank of Canada FI lifted its stake in shares of Roku by 11,626.3% in the 3rd quarter. National Bank of Canada FI now owns 150,800 shares of the company’s stock valued at $11,259,000 after purchasing an additional 149,514 shares during the period. EULAV Asset Management grew its stake in Roku by 59.1% during the third quarter. EULAV Asset Management now owns 183,000 shares of the company’s stock worth $13,663,000 after purchasing an additional 68,000 shares during the period. Finally, Granite Bay Wealth Management LLC acquired a new position in Roku in the second quarter valued at approximately $1,142,000. 86.30% of the stock is owned by institutional investors.

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.