Roku (NASDAQ:ROKU) Stock Price Up 1.2% – Time to Buy?

Roku, Inc. (NASDAQ:ROKU)’s stock price was up 1.2% on Tuesday . The company traded as high as $73.56 and last traded at $71.26. Approximately 720,456 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 3,701,169 shares. The stock had previously closed at $70.44.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ROKU shares. Moffett Nathanson raised shares of Roku from a “sell” rating to a “neutral” rating and set a $70.00 price target for the company in a research report on Tuesday, March 4th. UBS Group upgraded shares of Roku from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 27th. Benchmark raised their price objective on Roku from $100.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Citigroup upgraded Roku from a “neutral” rating to an “outperform” rating in a research note on Sunday, March 23rd. Finally, Citizens Jmp upgraded shares of Roku to a “strong-buy” rating in a research note on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $96.55.

Roku Stock Down 11.9 %

The business’s fifty day moving average is $80.64 and its two-hundred day moving average is $77.62. The stock has a market capitalization of $9.18 billion, a PE ratio of -71.10 and a beta of 2.17.

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

Insider Activity

In related news, CAO Matthew C. Banks sold 1,906 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 7,256 shares of the company’s stock, valued at $583,092.16. This represents a 20.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Dan Jedda sold 5,000 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $100.40, for a total value of $502,000.00. Following the transaction, the chief financial officer now owns 58,555 shares in the company, valued at $5,878,922. The trade was a 7.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 97,905 shares of company stock valued at $8,632,306. 13.98% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. raised its position in shares of Roku by 369.9% in the 4th quarter. Geneos Wealth Management Inc. now owns 343 shares of the company’s stock worth $25,000 after acquiring an additional 270 shares in the last quarter. Vision Financial Markets LLC purchased a new stake in Roku in the fourth quarter valued at approximately $30,000. Raelipskie Partnership purchased a new position in shares of Roku during the third quarter worth $32,000. Game Plan Financial Advisors LLC purchased a new position in shares of Roku during the 4th quarter valued at about $37,000. Finally, Harvest Fund Management Co. Ltd lifted its holdings in Roku by 4,091.7% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 503 shares of the company’s stock valued at $37,000 after acquiring an additional 491 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.