Roku (NASDAQ:ROKU) Trading 2.6% Higher - Still a Buy?

Roku, Inc. (NASDAQ:ROKU - Get Free Report) shares were up 2.6% during mid-day trading on Monday . The stock traded as high as $68.20 and last traded at $67.39. Approximately 963,229 shares changed hands during trading, a decline of 74% from the average daily volume of 3,705,818 shares. The stock had previously closed at $65.71.

Analysts Set New Price Targets

A number of brokerages have issued reports on ROKU. JMP Securities restated a "market outperform" rating and set a $95.00 price target on shares of Roku in a research note on Friday. Wedbush cut their target price on Roku from $125.00 to $100.00 and set an "outperform" rating on the stock in a research report on Monday. Guggenheim reiterated a "buy" rating and set a $100.00 price target on shares of Roku in a research note on Friday. Bank of America assumed coverage on Roku in a research note on Thursday, March 27th. They issued a "buy" rating and a $100.00 price objective for the company. Finally, Loop Capital dropped their target price on Roku from $90.00 to $80.00 and set a "hold" rating on the stock in a research report on Friday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $89.46.

Roku Stock Performance

The firm has a market capitalization of $8.98 billion, a price-to-earnings ratio of -69.16 and a beta of 2.17. The company has a 50 day moving average price of $69.14 and a two-hundred day moving average price of $75.29.

Roku (NASDAQ:ROKU - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported ($0.19) earnings per share 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 company had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $1.01 billion. During the same period in the prior year, the business posted ($0.35) earnings per share. The firm's revenue for the quarter was up 15.8% on a year-over-year basis. On average, equities analysts expect that Roku, Inc. will post -0.3 earnings per share for the current fiscal year.

Insider Transactions at Roku

In other Roku news, CEO Anthony J. Wood sold 4,600 shares of the firm's stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $75.00, for a total value of $345,000.00. Following the transaction, the chief executive officer now directly owns 6,243 shares of the company's stock, valued at $468,225. This trade represents a 42.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Dan Jedda sold 1,000 shares of the company's stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $75.00, for a total value of $75,000.00. Following the completion of the sale, the chief financial officer now owns 68,843 shares of the company's stock, valued at $5,163,225. This trade represents a 1.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 72,111 shares of company stock valued at $6,575,362. Corporate insiders own 13.98% of the company's stock.

Institutional Trading of Roku

Several institutional investors have recently made changes to their positions in ROKU. Geneos Wealth Management Inc. increased its stake in Roku by 369.9% during the fourth quarter. Geneos Wealth Management Inc. now owns 343 shares of the company's stock worth $25,000 after acquiring an additional 270 shares during the last quarter. Garde Capital Inc. purchased a new position in shares of Roku during the 1st quarter worth $25,000. Vision Financial Markets LLC acquired a new stake in shares of Roku during the 4th quarter worth about $30,000. Golden State Wealth Management LLC raised its holdings in Roku by 125.4% in the 1st quarter. Golden State Wealth Management LLC now owns 444 shares of the company's stock valued at $31,000 after buying an additional 247 shares during the period. Finally, Princeton Global Asset Management LLC acquired a new position in Roku in the first quarter valued at about $35,000. Hedge funds and other institutional investors own 86.30% of the company's stock.

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.