Roku (NASDAQ:ROKU) Stock Price Up 3.1% – Time to Buy?

Roku, Inc. (NASDAQ:ROKU)’s stock price traded up 3.1% on Monday . The stock traded as high as $89.92 and last traded at $88.52. 3,087,413 shares were traded during trading, a decline of 2% from the average session volume of 3,151,760 shares. The stock had previously closed at $85.85.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. JPMorgan Chase & Co. raised their target price on Roku from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Friday, December 12th. Guggenheim raised their price objective on shares of Roku from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, December 4th. Rosenblatt Securities lifted their target price on shares of Roku from $101.00 to $106.00 and gave the company a “neutral” rating in a research report on Friday, October 31st. Citizens Jmp reissued a “market outperform” rating and issued a $145.00 target price on shares of Roku in a research note on Tuesday, December 2nd. Finally, Benchmark restated a “buy” rating on shares of Roku in a research note on Wednesday, February 4th. Twenty-three equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Roku presently has a consensus rating of “Moderate Buy” and a consensus price target of $118.72.

Roku Trading Up 3.1%

The firm has a market capitalization of $13.08 billion, a price-to-earnings ratio of -442.58 and a beta of 1.99. The firm has a fifty day moving average price of $104.63 and a 200 day moving average price of $99.07.

Insiders Place Their Bets

In related news, Director Neil D. Hunt sold 2,000 shares of the company’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $108.98, for a total transaction of $217,960.00. Following the transaction, the director owned 7,782 shares in the company, valued at $848,082.36. This represents a 20.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gilbert Fuchsberg sold 3,250 shares of the firm’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $108.78, for a total transaction of $353,535.00. Following the completion of the sale, the insider owned 59,094 shares of the company’s stock, valued at $6,428,245.32. The trade was a 5.21% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 184,790 shares of company stock valued at $19,685,259 over the last three months. Company insiders own 13.98% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ROKU. Vanguard Group Inc. boosted its position in Roku by 2.5% in the 3rd quarter. Vanguard Group Inc. now owns 12,998,674 shares of the company’s stock valued at $1,301,557,000 after buying an additional 322,858 shares during the last quarter. Acadian Asset Management LLC lifted its stake in shares of Roku by 41.2% during the second quarter. Acadian Asset Management LLC now owns 2,691,643 shares of the company’s stock valued at $236,545,000 after acquiring an additional 785,864 shares during the period. AQR Capital Management LLC boosted its holdings in Roku by 275.5% in the third quarter. AQR Capital Management LLC now owns 2,586,125 shares of the company’s stock valued at $258,897,000 after acquiring an additional 1,897,407 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Roku by 7.3% in the fourth quarter. Geode Capital Management LLC now owns 2,464,130 shares of the company’s stock valued at $267,389,000 after acquiring an additional 168,214 shares during the last quarter. Finally, Tableaux LLC acquired a new stake in Roku in the second quarter worth about $1,746,000. Institutional investors own 86.30% of the company’s stock.

Roku Company Profile

Roku, Inc (NASDAQ: ROKU) is a technology company that develops and operates a proprietary streaming platform designed to deliver entertainment content to consumers via internet-connected devices and smart televisions. Since its inception in 2002 in California, Roku has focused on simplifying access to streaming services for viewers worldwide. The company’s platform enables users to discover, access and manage a wide array of over-the-top content from major streaming services, free ad-supported channels and niche providers.

At the core of Roku’s product lineup are a range of streaming players and sticks, which connect to televisions via HDMI and deliver the Roku OS experience.