Roku (NASDAQ:ROKU) Trading Up 6.6% – Still a Buy?

Roku, Inc. (NASDAQ:ROKU) was up 6.6% during mid-day trading on Wednesday . The company traded as high as $74.45 and last traded at $71.82. Approximately 3,300,326 shares were traded during mid-day trading, a decline of 10% from the average daily volume of 3,681,129 shares. The stock had previously closed at $67.36.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ROKU shares. Wells Fargo & Company upgraded shares of Roku from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $74.00 to $129.00 in a report on Friday, February 14th. UBS Group raised their price target on shares of Roku from $73.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Citizens Jmp upgraded shares of Roku to a “strong-buy” rating in a report on Tuesday, January 21st. Moffett Nathanson upgraded shares of Roku from a “sell” rating to a “neutral” rating and set a $70.00 price target for the company in a report on Tuesday, March 4th. Finally, Rosenblatt Securities restated a “neutral” rating and set a $86.00 price target on shares of Roku in a report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $96.71.

Roku Trading Up 6.1 %

The stock has a market capitalization of $11.43 billion, a PE ratio of -87.45 and a beta of 2.12. The stock’s fifty day simple moving average is $80.91 and its 200-day simple moving average is $77.07.

Roku (NASDAQ:ROKU) last posted its quarterly earnings data on Thursday, February 13th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.20. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.15 billion. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. As a group, analysts anticipate that Roku, Inc. will post -0.3 earnings per share for the current fiscal year.

Insider Transactions at Roku

In other news, insider Charles Collier sold 7,181 shares of Roku stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $78.25, for a total transaction of $561,913.25. Following the sale, the insider now directly owns 7,380 shares in the company, valued at $577,485. The trade was a 49.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Matthew C. Banks sold 1,906 shares of Roku stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $80.36, for a total value of $153,166.16. Following the sale, the chief accounting officer now owns 7,256 shares in the company, valued at $583,092.16. The trade was a 20.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 92,308 shares of company stock worth $8,213,436 in the last ninety days. Company insiders own 13.98% of the company’s stock.

Institutional Investors Weigh In On Roku

A number of hedge funds have recently made changes to their positions in ROKU. Wealth Enhancement Advisory Services LLC raised its stake in Roku by 19.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,225 shares of the company’s stock valued at $463,000 after acquiring an additional 1,024 shares during the period. Audent Global Asset Management LLC raised its stake in Roku by 222.9% in the 4th quarter. Audent Global Asset Management LLC now owns 21,127 shares of the company’s stock valued at $1,571,000 after acquiring an additional 14,584 shares during the period. Siemens Fonds Invest GmbH bought a new stake in Roku in the 4th quarter valued at about $1,681,000. Fluent Financial LLC bought a new stake in Roku in the 4th quarter valued at about $660,000. Finally, United Advisor Group LLC raised its stake in Roku by 0.9% in the 4th quarter. United Advisor Group LLC now owns 14,430 shares of the company’s stock valued at $1,073,000 after acquiring an additional 130 shares during the period. 86.30% of the stock is currently 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.