Roku (NASDAQ:ROKU) Stock Price Up 2.8% – Time to Buy?

Roku, Inc. (NASDAQ:ROKU) shares rose 2.8% on Thursday . The stock traded as high as $107.46 and last traded at $107.23. Approximately 2,283,416 shares were traded during mid-day trading, a decline of 24% from the average daily volume of 2,998,510 shares. The stock had previously closed at $104.26.

Analysts Set New Price Targets

ROKU has been the subject of a number of recent analyst reports. Morgan Stanley set a $135.00 price objective on shares of Roku and gave the company an “overweight” rating in a research report on Tuesday, December 16th. 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. Arete Research set a $132.00 price target on Roku and gave the stock a “buy” rating in a report on Monday, January 5th. Citigroup reiterated an “outperform” rating on shares of Roku in a research report on Friday, January 9th. Finally, Jefferies Financial Group raised Roku from a “hold” rating to a “buy” rating and increased their target price for the stock from $100.00 to $135.00 in a research note on Thursday, December 11th. Twenty-two research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Roku has a consensus rating of “Moderate Buy” and an average target price of $118.79.

Roku Price Performance

The company has a market capitalization of $15.65 billion, a price-to-earnings ratio of -529.42 and a beta of 1.95. The firm has a 50-day moving average price of $104.47 and a two-hundred day moving average price of $98.53.

Roku (NASDAQ:ROKU) last released its earnings results on Thursday, October 30th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.07 by $0.09. The firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Roku had a negative return on equity of 1.08% and a negative net margin of 0.61%.The business’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.06) EPS. On average, equities analysts predict that Roku, Inc. will post -0.3 EPS for the current year.

Insider Buying and Selling at Roku

In other news, CFO Dan Jedda sold 3,000 shares of the stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $99.09, for a total transaction of $297,270.00. Following the completion of the transaction, the chief financial officer directly owned 77,420 shares in the company, valued at $7,671,547.80. This represents a 3.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Charles Collier sold 118,088 shares of the firm’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $115.00, for a total value of $13,580,120.00. Following the completion of the transaction, the insider owned 200 shares of the company’s stock, valued at $23,000. The trade was a 99.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 389,882 shares of company stock worth $42,251,621. Company insiders own 13.98% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Roku by 2.5% during the third quarter. Vanguard Group Inc. now owns 12,998,674 shares of the company’s stock worth $1,301,557,000 after acquiring an additional 322,858 shares in the last quarter. Acadian Asset Management LLC increased its stake in shares of Roku by 41.2% during the 2nd quarter. Acadian Asset Management LLC now owns 2,691,643 shares of the company’s stock worth $236,545,000 after purchasing an additional 785,864 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Roku by 275.5% during the 3rd quarter. AQR Capital Management LLC now owns 2,586,125 shares of the company’s stock worth $258,897,000 after purchasing an additional 1,897,407 shares during the last quarter. Tableaux LLC bought a new stake in shares of Roku in the 2nd quarter valued at about $1,746,000. Finally, Holocene Advisors LP lifted its stake in Roku by 352.3% in the 3rd quarter. Holocene Advisors LP now owns 1,650,448 shares of the company’s stock valued at $165,259,000 after purchasing an additional 1,285,585 shares during the last quarter. 86.30% of the stock is owned by institutional investors and hedge funds.

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.