Roku (NASDAQ:ROKU) Trading 2% Higher - Time to Buy?

Roku, Inc. (NASDAQ:ROKU - Get Free Report) traded up 2% during mid-day trading on Tuesday . The company traded as high as $81.66 and last traded at $82.53. 690,250 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 3,852,761 shares. The stock had previously closed at $80.90.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Roku from $75.00 to $85.00 and gave the company an "overweight" rating in a report on Tuesday, June 3rd. Evercore ISI cut their price objective on shares of Roku from $105.00 to $80.00 and set an "in-line" rating for the company in a report on Friday, May 2nd. Wedbush reissued an "outperform" rating and issued a $100.00 price objective on shares of Roku in a report on Monday, June 16th. Piper Sandler assumed coverage on shares of Roku in a report on Thursday, April 17th. They issued a "neutral" rating and a $65.00 price objective for the company. Finally, Citigroup reissued a "neutral" rating and issued a $84.00 price objective (up previously from $68.00) on shares of Roku in a report on Wednesday, June 18th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $89.93.

Roku Stock Up 2.2%

The company's 50 day moving average price is $69.97 and its 200-day moving average price is $75.00. The stock has a market cap of $12.06 billion, a P/E ratio of -113.25 and a beta of 2.09.

Roku (NASDAQ:ROKU - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.08. Roku had a negative net margin of 2.49% and a negative return on equity of 4.29%. The firm 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 firm earned ($0.35) earnings per share. The company's revenue for the quarter was up 15.8% on a year-over-year basis. Equities research analysts anticipate that Roku, Inc. will post -0.3 earnings per share for the current year.

Insider Transactions at Roku

In other Roku news, CEO Anthony J. Wood sold 25,000 shares of the firm's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $75.00, for a total value of $1,875,000.00. Following the completion of the sale, the chief executive officer now directly owns 6,243 shares in the company, valued at approximately $468,225. This trade represents a 80.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Matthew C. Banks sold 629 shares of the firm's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $72.98, for a total transaction of $45,904.42. Following the completion of the sale, the chief accounting officer now owns 8,555 shares of the company's stock, valued at $624,343.90. The trade was a 6.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 64,227 shares of company stock worth $4,994,244 over the last three months. 13.98% of the stock is owned by company insiders.

Institutional Investors Weigh In On Roku

Large investors have recently bought and sold shares of the stock. Garde Capital Inc. acquired a new stake in Roku in the first quarter worth $25,000. Banque Transatlantique SA bought a new position in shares of Roku in the first quarter valued at $28,000. Vision Financial Markets LLC bought a new position in shares of Roku in the fourth quarter valued at $30,000. Beaird Harris Wealth Management LLC bought a new position in shares of Roku in the first quarter valued at $30,000. Finally, Golden State Wealth Management LLC lifted its stake in shares of Roku by 125.4% in the first 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 in the last quarter. 86.30% of the stock is currently owned by institutional investors and hedge funds.

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.

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