Roku (NASDAQ:ROKU) Trading 1.2% Higher – Time to Buy?

Roku, Inc. (NASDAQ:ROKU)’s share price shot up 1.2% on Tuesday . The stock traded as high as $99.20 and last traded at $96.30. 1,684,611 shares were traded during mid-day trading, a decline of 54% from the average session volume of 3,678,999 shares. The stock had previously closed at $95.18.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Bank of America upped their price target on shares of Roku from $115.00 to $140.00 and gave the company a “buy” rating in a research report on Monday, January 12th. Citigroup reissued a “market outperform” rating on shares of Roku in a research note on Monday, March 2nd. UBS Group restated a “neutral” rating and issued a $110.00 target price on shares of Roku in a report on Friday, February 13th. Wall Street Zen raised Roku from a “hold” rating to a “buy” rating in a research report on Sunday, December 7th. Finally, Zacks Research raised Roku from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 10th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $125.40.

Roku Price Performance

The firm has a market capitalization of $14.20 billion, a PE ratio of 168.95 and a beta of 1.98. The company has a fifty day moving average of $97.65 and a 200-day moving average of $99.74.

Roku (NASDAQ:ROKU) last issued its earnings results on Thursday, February 12th. The company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.25. Roku had a return on equity of 3.40% and a net margin of 1.87%.The firm had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter in the previous year, the company posted ($0.24) earnings per share. The business’s quarterly revenue was up 16.1% compared to the same quarter last year. Equities analysts anticipate that Roku, Inc. will post -0.3 EPS for the current year.

Insider Transactions at Roku

In related news, Director Neil D. Hunt sold 2,000 shares of the stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $96.48, for a total value of $192,960.00. Following the transaction, the director owned 7,782 shares in the company, valued at approximately $750,807.36. This represents a 20.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Dan Jedda sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $88.88, for a total transaction of $266,640.00. Following the transaction, the chief financial officer directly owned 84,267 shares in the company, valued at approximately $7,489,650.96. The trade was a 3.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 198,124 shares of company stock valued at $20,020,428 in the last ninety days. 13.98% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Blue Trust Inc. lifted its position in Roku by 680.0% during the 4th quarter. Blue Trust Inc. now owns 234 shares of the company’s stock worth $25,000 after acquiring an additional 204 shares during the last quarter. Aventura Private Wealth LLC acquired a new stake in shares of Roku in the fourth quarter valued at about $26,000. WPG Advisers LLC bought a new position in shares of Roku in the fourth quarter worth about $31,000. Safe Harbor Fiduciary LLC bought a new position in shares of Roku in the fourth quarter worth about $31,000. Finally, Westfuller Advisors LLC acquired a new position in shares of Roku during the 3rd quarter worth about $30,000. 86.30% of the stock is currently 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.