Roku (NASDAQ:ROKU) Shares Up 7.4% - Still a Buy?

Roku, Inc. (NASDAQ:ROKU - Get Free Report) was up 7.4% on Wednesday . The stock traded as high as $65.05 and last traded at $63.60. Approximately 1,527,819 shares changed hands during mid-day trading, a decline of 60% from the average daily volume of 3,793,008 shares. The stock had previously closed at $59.23.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ROKU. Benchmark reissued a "buy" rating and issued a $130.00 price objective on shares of Roku in a research report on Monday, April 21st. Needham & Company LLC reissued a "buy" rating and set a $88.50 price objective on shares of Roku in a report on Thursday. Wells Fargo & Company upgraded shares of Roku from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $74.00 to $129.00 in a report on Friday, February 14th. Jefferies Financial Group upgraded shares of Roku from an "underperform" rating to a "hold" rating and lifted their price target for the stock from $55.00 to $100.00 in a research note on Thursday, February 20th. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $95.00 price objective on shares of Roku in a report on Thursday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $91.50.

Roku Trading Up 1.6 %

The business has a 50 day moving average price of $70.99 and a 200-day moving average price of $75.53. The firm has a market capitalization of $9.59 billion, a PE ratio of -73.83 and a beta of 2.17.

Roku (NASDAQ:ROKU - Get Free Report) last released its earnings results on Thursday, February 13th. The company reported ($0.24) EPS for the quarter, beating analysts' consensus estimates of ($0.44) by $0.20. Roku had a negative return on equity of 5.34% and a negative net margin of 3.15%. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.15 billion. On average, equities research analysts forecast that Roku, Inc. will post -0.3 earnings per share for the current year.

Insider Buying and Selling at Roku

In related news, CEO Anthony J. Wood sold 4,600 shares of the firm'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 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 at this hyperlink. Also, CFO Dan Jedda sold 1,000 shares of the firm's stock in a transaction 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 transaction, the chief financial officer now owns 68,843 shares of the company's stock, valued at approximately $5,163,225. This represents a 1.43 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 71,905 shares of company stock valued at $6,560,876. Corporate insiders own 13.98% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. increased its stake in shares of Roku by 369.9% during the 4th quarter. Geneos Wealth Management Inc. now owns 343 shares of the company's stock valued at $25,000 after acquiring an additional 270 shares during the last quarter. Garde Capital Inc. purchased a new stake in Roku during the 1st quarter worth $25,000. Vision Financial Markets LLC acquired a new stake in shares of Roku in the fourth quarter valued at about $30,000. Golden State Wealth Management LLC grew its position in 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 acquiring an additional 247 shares in the last quarter. Finally, Princeton Global Asset Management LLC purchased a new stake in Roku during the 1st quarter worth $35,000. 86.30% of the stock is currently owned by hedge funds and other 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.