Roku (NASDAQ:ROKU) Stock Price Up 2.6% - Time to Buy?

Shares of Roku, Inc. (NASDAQ:ROKU - Get Free Report) rose 2.6% during trading on Thursday . The stock traded as high as $76.24 and last traded at $75.61. Approximately 885,112 shares were traded during trading, a decline of 77% from the average daily volume of 3,799,361 shares. The stock had previously closed at $73.69.

Analysts Set New Price Targets

ROKU has been the subject of several recent research reports. JMP Securities reissued a "market outperform" rating and issued a $95.00 price target on shares of Roku in a research note on Monday. Redburn Atlantic raised Roku from a "neutral" rating to a "buy" rating and set a $100.00 target price for the company in a research note on Monday, April 7th. JPMorgan Chase & Co. increased their target price on Roku from $75.00 to $85.00 and gave the company an "overweight" rating in a report on Tuesday. Compass Point began coverage on Roku in a research report on Sunday, March 23rd. They set a "buy" rating on the stock. Finally, Guggenheim reiterated a "buy" rating and issued a $100.00 price objective on shares of Roku in a research report on Friday, May 2nd. One 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $88.37.

Roku Price Performance

The stock's 50 day moving average is $65.61 and its 200-day moving average is $74.44. The company has a market capitalization of $11.46 billion, a P/E ratio of -88.26 and a beta of 2.06.

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

Insider Activity

In other news, insider Charles Collier sold 7,181 shares of Roku stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $75.00, for a total transaction of $538,575.00. Following the completion of the transaction, the insider now directly owns 10,970 shares in the company, valued at approximately $822,750. This trade represents a 39.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Anthony J. Wood sold 4,600 shares of the business's stock in a transaction that occurred on 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 directly owns 6,243 shares in the company, valued at approximately $468,225. This represents a 42.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,823 shares of company stock worth $2,908,615. Corporate insiders own 13.98% of the company's stock.

Institutional Investors Weigh In On Roku

Several hedge funds have recently added to or reduced their stakes in ROKU. Garde Capital Inc. purchased a new position in shares of Roku in the 1st quarter worth about $25,000. Banque Transatlantique SA purchased a new position in Roku in the first quarter worth about $28,000. Vision Financial Markets LLC purchased a new position in Roku in the fourth quarter worth about $30,000. Beaird Harris Wealth Management LLC bought a new position in shares of Roku in the first quarter worth approximately $30,000. Finally, Golden State Wealth Management LLC grew its holdings in shares of Roku by 125.4% during 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 during the last quarter. 86.30% of the stock is owned by institutional investors.

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.