Roku (NASDAQ:ROKU) Stock Price Up 1.6% – Should You Buy?

Roku, Inc. (NASDAQ:ROKU)’s stock price was up 1.6% on Monday . The company traded as high as $157.83 and last traded at $157.45. 1,579,584 shares changed hands during mid-day trading, a decline of 55% from the average session volume of 3,500,231 shares. The stock had previously closed at $154.93.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on ROKU shares. UBS Group upped their target price on shares of Roku from $126.00 to $172.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Wolfe Research lowered Roku from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, June 16th. Rosenblatt Securities restated a “buy” rating and set a $160.00 target price on shares of Roku in a research report on Monday, August 10th. Fox Advisors set a $157.00 price target on Roku in a research note on Friday, July 17th. Finally, Evercore lowered Roku from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and nineteen have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $156.17.

Roku Stock Up 1.6%

The company’s fifty day simple moving average is $150.02 and its two-hundred day simple moving average is $127.28. The company has a market capitalization of $23.37 billion, a price-to-earnings ratio of 67.29 and a beta of 2.05.

Roku (NASDAQ:ROKU) last released its quarterly earnings data on Thursday, August 6th. The company reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.47. Roku had a net margin of 6.82% and a return on equity of 13.73%. The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter in the prior year, the company earned $0.07 EPS. The firm’s quarterly revenue was up 21.9% on a year-over-year basis. Equities research analysts expect that Roku, Inc. will post 2.85 earnings per share for the current year.

Insider Buying and Selling

In other Roku news, SVP Christopher T. Handman sold 2,999 shares of Roku stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $155.64, for a total value of $466,764.36. Following the sale, the senior vice president directly owned 8,997 shares in the company, valued at approximately $1,400,293.08. The trade was a 25.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Mustafa Ozgen sold 3,410 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $155.64, for a total value of $530,732.40. Following the transaction, the insider directly owned 25,569 shares of the company’s stock, valued at $3,979,559.16. This trade represents a 11.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 105,285 shares of company stock valued at $15,841,744. Corporate insiders own 13.45% of the company’s stock.

Institutional Trading of Roku

Several institutional investors and hedge funds have recently bought and sold shares of the business. Sequoia Financial Advisors LLC boosted its position in Roku by 22.4% during the second quarter. Sequoia Financial Advisors LLC now owns 6,018 shares of the company’s stock worth $831,000 after purchasing an additional 1,102 shares during the period. Maven Securities LTD bought a new stake in shares of Roku during the second quarter worth approximately $5,111,000. IFP Advisors Inc grew its position in shares of Roku by 12.5% in the second quarter. IFP Advisors Inc now owns 1,965 shares of the company’s stock valued at $271,000 after purchasing an additional 218 shares during the last quarter. Governors Lane LP bought a new position in shares of Roku during the second quarter worth approximately $5,622,000. Finally, Arizona State Retirement System increased its stake in shares of Roku by 0.4% during the second quarter. Arizona State Retirement System now owns 36,069 shares of the company’s stock worth $4,983,000 after purchasing an additional 142 shares during the period. Institutional investors own 86.30% of the company’s stock.

Roku Company Profile

Roku, Inc (NASDAQ: ROKU) operates a television streaming platform that connects consumers with digital entertainment. Its Roku operating system powers streaming players, Roku-branded televisions and smart-TV products made by licensing partners. The platform provides access to streaming services, live television, movies, music and other applications.

The company also operates The Roku Channel, its own ad-supported streaming service offering licensed and original content, including movies, television programs, live channels and premium subscription options.