Roku (NASDAQ:ROKU) Trading 0.9% Higher - Time to Buy?

Shares of Roku, Inc. (NASDAQ:ROKU - Get Free Report) traded up 0.9% during trading on Tuesday . The company traded as high as $71.68 and last traded at $71.50. 439,754 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 3,760,476 shares. The stock had previously closed at $70.83.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ROKU shares. Redburn Atlantic upgraded shares of Roku from a "neutral" rating to a "buy" rating and set a $100.00 price objective on the stock in a research report on Monday, April 7th. Pivotal Research lowered their price target on Roku from $125.00 to $100.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. JMP Securities reaffirmed a "market outperform" rating and issued a $95.00 price objective on shares of Roku in a report on Friday, May 2nd. Wells Fargo & Company lowered their target price on Roku from $129.00 to $93.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. Finally, Bank of America started coverage on Roku in a research report on Thursday, March 27th. They issued a "buy" rating and a $100.00 target price on the stock. One research analyst has rated the stock with a sell rating, eight have given a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $87.93.

Roku Stock Down 1.1%

The business has a 50 day moving average price of $66.06 and a two-hundred day moving average price of $74.48. The stock has a market cap 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 results on Thursday, May 1st. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.08. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. Roku had a negative return on equity of 5.34% and a negative net margin of 3.15%. The firm's revenue for the quarter was up 15.8% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.35) EPS. On average, research analysts forecast that Roku, Inc. will post -0.3 earnings per share for the current year.

Insider Activity at Roku

In other Roku news, CAO Matthew C. Banks sold 1,906 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $80.36, for a total transaction of $153,166.16. Following the completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Anthony J. Wood sold 4,600 shares of the business's stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $75.00, for a total value of $345,000.00. Following the completion of the sale, the chief executive officer now owns 6,243 shares in the company, valued at $468,225. This represents a 42.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,100 shares of company stock valued at $1,164,215. Corporate insiders own 13.98% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC raised 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 purchasing an additional 4,613,570 shares in the last quarter. Marshall Wace LLP raised its stake in shares of 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 increased its holdings in Roku by 456.7% during the 1st quarter. Acadian Asset Management LLC now owns 1,905,779 shares of the company's stock worth $134,222,000 after purchasing an additional 1,563,449 shares during the period. Cadian Capital Management LP bought a new stake in Roku during the 4th quarter valued at $87,632,000. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in shares of Roku by 505.3% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,296,774 shares of the company's stock worth $96,402,000 after buying an additional 1,082,548 shares during the period. 86.30% of the stock is currently owned by institutional investors.

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.