Roku (NASDAQ:ROKU) Shares Up 1.4% – Still a Buy?

Roku, Inc. (NASDAQ:ROKU)’s stock price rose 1.4% on Thursday . The company traded as high as $142.67 and last traded at $142.43. Approximately 4,002,234 shares traded hands during mid-day trading, an increase of 3% from the average session volume of 3,882,997 shares. The stock had previously closed at $140.51.

Analyst Upgrades and Downgrades

Several research firms have commented on ROKU. Wedbush downgraded shares of Roku from an “outperform” rating to a “neutral” rating and set a $155.00 price target on the stock. in a research note on Tuesday, June 16th. Pivotal Research reaffirmed a “buy” rating and issued a $160.00 price objective (up from $140.00) on shares of Roku in a research note on Friday, May 1st. Fox Advisors set a $160.00 target price on shares of Roku in a report on Tuesday, June 16th. Jefferies Financial Group cut shares of Roku from a “buy” rating to a “hold” rating and set a $160.00 target price on the stock. in a research report on Monday, June 15th. Finally, Evercore downgraded shares of Roku from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 15th. Eleven investment analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $153.71.

Roku Trading Up 1.4%

The business’s fifty day simple moving average is $127.18 and its 200-day simple moving average is $109.84. The firm has a market cap of $21.00 billion, a P/E ratio of 107.09 and a beta of 2.01.

Roku (NASDAQ:ROKU) last issued its quarterly earnings data on Thursday, April 30th. The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.34 by $0.23. The firm had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.20 billion. Roku had a net margin of 4.06% and a return on equity of 7.64%. The company’s quarterly revenue was up 22.4% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.19) earnings per share. Analysts anticipate that Roku, Inc. will post 2.41 earnings per share for the current year.

Insider Activity

In related news, insider Charles Collier sold 205,821 shares of Roku stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $105.00, for a total value of $21,611,205.00. Following the sale, the insider owned 11,131 shares in the company, valued at $1,168,755. The trade was a 94.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Anthony J. Wood sold 75,000 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $128.79, for a total transaction of $9,659,250.00. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 710,466 shares of company stock valued at $81,502,607. Company insiders own 13.45% of the company’s stock.

Hedge Funds Weigh In On Roku

Hedge funds and other institutional investors have recently modified their holdings of the stock. Versant Capital Management Inc grew its holdings in shares of Roku by 19.3% during the 2nd quarter. Versant Capital Management Inc now owns 4,560 shares of the company’s stock worth $630,000 after acquiring an additional 739 shares during the period. Parallel Advisors LLC lifted its stake in shares of Roku by 27.8% in the 1st quarter. Parallel Advisors LLC now owns 2,426 shares of the company’s stock valued at $230,000 after purchasing an additional 528 shares during the period. Glenmede Trust Co. NA lifted its stake in shares of Roku by 225.1% in the 1st quarter. Glenmede Trust Co. NA now owns 245,468 shares of the company’s stock valued at $23,226,000 after purchasing an additional 169,960 shares during the period. Royal Fund Management LLC bought a new stake in shares of Roku during the first quarter valued at approximately $365,000. Finally, Bank of America Corp DE boosted its position in shares of Roku by 5.5% during the first quarter. Bank of America Corp DE now owns 1,082,755 shares of the company’s stock valued at $102,450,000 after purchasing an additional 56,893 shares in the last quarter. Hedge funds and other institutional investors own 86.30% of the company’s stock.

About Roku

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.