Roku (NASDAQ:ROKU) Shares Up 0.3% - Still a Buy?

Roku, Inc. (NASDAQ:ROKU - Get Free Report) shares rose 0.3% on Wednesday . The stock traded as high as $71.57 and last traded at $71.60. Approximately 556,934 shares traded hands during trading, a decline of 85% from the average daily volume of 3,754,934 shares. The stock had previously closed at $71.41.

Analyst Upgrades and Downgrades

ROKU has been the subject of several recent analyst reports. Citigroup decreased their price objective on shares of Roku from $81.00 to $68.00 and set a "neutral" rating for the company in a research report on Tuesday, May 6th. JMP Securities reiterated a "market outperform" rating and set a $95.00 price objective on shares of Roku in a research report on Friday, May 2nd. JPMorgan Chase & Co. decreased their price objective on shares of Roku from $115.00 to $75.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Jefferies Financial Group upgraded shares of Roku from an "underperform" rating to a "hold" rating and increased their price objective for the stock from $55.00 to $100.00 in a research report on Thursday, February 20th. Finally, Evercore ISI cut their target price on shares of Roku from $105.00 to $80.00 and set an "in-line" rating on the stock in a research note on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $87.93.

Roku Stock Down 1.1%

The business's 50-day moving average is $66.06 and its two-hundred day moving average is $74.49. The company has a market capitalization of $10.07 billion, a P/E ratio of -77.54 and a beta of 2.06.

Roku (NASDAQ:ROKU - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.27) by $0.08. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter last year, the company posted ($0.35) earnings per share. The firm's quarterly revenue was up 15.8% compared to the same quarter last year. Analysts predict that Roku, Inc. will post -0.3 EPS for the current year.

Insider Buying and Selling

In other news, CEO Anthony J. Wood sold 4,600 shares of Roku stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $75.00, for a total value of $345,000.00. Following the completion of the transaction, the chief executive officer now owns 6,243 shares in the company, valued at $468,225. This trade represents a 42.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Charles Collier sold 7,181 shares of Roku stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $78.25, for a total transaction of $561,913.25. Following the completion of the transaction, the insider now owns 7,380 shares of the company's stock, valued at $577,485. The trade was a 49.32% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,100 shares of company stock worth $1,164,215. Insiders own 13.98% of the company's stock.

Hedge Funds Weigh In On Roku

Several large investors have recently modified their holdings of ROKU. FMR LLC grew its stake in Roku by 31.7% during the fourth quarter. FMR LLC now owns 19,183,942 shares of the company's stock valued at $1,426,134,000 after acquiring an additional 4,613,570 shares in the last quarter. Marshall Wace LLP grew its stake in Roku by 663.9% during the fourth quarter. Marshall Wace LLP now owns 2,335,813 shares of the company's stock valued at $173,644,000 after acquiring an additional 2,030,036 shares in the last quarter. Acadian Asset Management LLC grew its stake in Roku by 456.7% during the first quarter. Acadian Asset Management LLC now owns 1,905,779 shares of the company's stock valued at $134,222,000 after acquiring an additional 1,563,449 shares in the last quarter. Cadian Capital Management LP purchased a new position in Roku during the fourth quarter valued at approximately $87,632,000. Finally, Jacobs Levy Equity Management Inc. grew its stake in Roku by 505.3% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,296,774 shares of the company's stock valued at $96,402,000 after acquiring an additional 1,082,548 shares in the last quarter. Hedge funds and other institutional investors own 86.30% of the company's stock.

Roku Company Profile

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.