Roku (NASDAQ:ROKU) Stock Price Up 1% - Time to Buy?

Key Points

• Roku shares rose 1% to $147.33 in midday trading, with volume about 7% above its average. The stock trades at a high PE ratio of 110.78 and has a beta of 2.01.
• Analyst sentiment is mixed: ten analysts rate Roku a Buy and seventeen rate it a Hold, producing an overall “Hold” consensus and an average price target of $155.12.
• Insiders sold about $26.5 million of Roku stock over the past 90 days, while institutional investors own 86.3% of the company; recent institutional activity included several small stake increases and new positions.

Roku, Inc. (NASDAQ:ROKU - Get Free Report) was up 1% during trading on Tuesday . The stock traded as high as $147.38 and last traded at $147.33. 3,992,400 shares traded hands during mid-day trading, an increase of 7% from the average session volume of 3,717,152 shares. The stock had previously closed at $145.84.

Analyst Ratings Changes

ROKU has been the topic of several research analyst reports. Citizens Jmp cut shares of Roku from a "market outperform" rating to a "hold" rating in a research report on Tuesday, June 16th. Fox Advisors set a $157.00 price objective on shares of Roku in a report on Friday, July 17th. Morgan Stanley lifted their price objective on Roku from $150.00 to $170.00 and gave the company an "overweight" rating in a research report on Thursday, June 4th. Wolfe Research downgraded Roku from an "outperform" rating to a "peer perform" rating in a report on Tuesday, June 16th. Finally, Wedbush lowered Roku from an "outperform" rating to a "neutral" rating and set a $155.00 target price for the company. in a research report on Tuesday, June 16th. Ten research analysts have rated the stock with a Buy rating and seventeen have given a Hold rating to the stock. Based on data from MarketBeat, Roku has an average rating of "Hold" and an average target price of $155.12.

Roku Trading Up 1.0%

The business's 50 day simple moving average is $136.86 and its two-hundred day simple moving average is $115.13. The firm has a market capitalization of $21.72 billion, a PE ratio of 110.78 and a beta of 2.01.

Insider Activity at Roku

In other Roku news, insider Mustafa Ozgen sold 10,194 shares of the firm's stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $144.00, for a total value of $1,467,936.00. Following the transaction, the insider directly owned 19,185 shares of the company's stock, valued at approximately $2,762,640. This trade represents a 34.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Dan Jedda sold 7,000 shares of the company's stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $143.87, for a total transaction of $1,007,090.00. Following the sale, the chief financial officer directly owned 79,963 shares of the company's stock, valued at $11,504,276.81. The trade was a 8.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 203,643 shares of company stock valued at $26,492,192 in the last 90 days. 13.45% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. lifted its holdings in Roku by 680.0% during the fourth quarter. Blue Trust Inc. now owns 234 shares of the company's stock valued at $25,000 after purchasing an additional 204 shares in the last quarter. Bayban boosted its stake in shares of Roku by 1,300.0% in the first quarter. Bayban now owns 280 shares of the company's stock worth $26,000 after acquiring an additional 260 shares during the period. WPG Advisers LLC bought a new position in shares of Roku in the fourth quarter worth about $31,000. Safe Harbor Fiduciary LLC purchased a new stake in shares of Roku during the fourth quarter worth about $31,000. Finally, Elevation Wealth Partners LLC grew its position in shares of Roku by 208.7% during the second quarter. Elevation Wealth Partners LLC now owns 318 shares of the company's stock worth $44,000 after purchasing an additional 215 shares in the last quarter. Institutional investors own 86.30% of the company's stock.

Roku Company Profile

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.

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