Roku (NASDAQ:ROKU) Stock Price Up 0% – Still a Buy?

Roku, Inc. (NASDAQ:ROKU) shares rose 0% on Friday . The company traded as high as $82.96 and last traded at $81.94. Approximately 341,550 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 4,397,279 shares. The stock had previously closed at $81.90.

Analyst Ratings Changes

ROKU has been the subject of several research reports. Citigroup boosted their price objective on shares of Roku from $60.00 to $77.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. UBS Group assumed coverage on Roku in a research note on Friday, November 22nd. They set a “neutral” rating and a $73.00 price target for the company. Robert W. Baird upgraded Roku from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $70.00 to $90.00 in a report on Monday, November 18th. Moffett Nathanson upgraded Roku from a “sell” rating to a “neutral” rating and set a $80.00 target price for the company in a report on Tuesday, October 1st. Finally, Wolfe Research upgraded shares of Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 price target on the stock in a report on Thursday, September 12th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $83.81.

Roku Stock Up 1.3 %

The firm has a market cap of $12.05 billion, a price-to-earnings ratio of -69.16 and a beta of 2.06. The company has a 50 day moving average of $75.00 and a 200 day moving average of $66.96.

Roku (NASDAQ:ROKU) last announced its earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.29. Roku had a negative return on equity of 7.22% and a negative net margin of 4.42%. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same period in the prior year, the company posted ($2.33) EPS. Roku’s quarterly revenue was up 16.5% on a year-over-year basis. As a group, equities research analysts expect that Roku, Inc. will post -1.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Anthony J. Wood sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $77.20, for a total transaction of $1,930,000.00. Following the sale, the chief executive officer now directly owns 5,020 shares of the company’s stock, valued at approximately $387,544. This represents a 83.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Matthew C. Banks sold 8,693 shares of Roku stock in a transaction on Monday, November 18th. The stock was sold at an average price of $71.44, for a total transaction of $621,027.92. Following the completion of the transaction, the chief accounting officer now directly owns 7,264 shares of the company’s stock, valued at approximately $518,940.16. This represents a 54.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 73,096 shares of company stock valued at $5,653,823 in the last ninety days. Corporate insiders own 13.98% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Sequoia Financial Advisors LLC lifted its holdings in Roku by 6.4% in the second quarter. Sequoia Financial Advisors LLC now owns 4,519 shares of the company’s stock worth $271,000 after acquiring an additional 270 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Roku by 19.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 6,836 shares of the company’s stock worth $410,000 after purchasing an additional 1,131 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in Roku by 36.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 147,691 shares of the company’s stock valued at $8,851,000 after purchasing an additional 39,111 shares during the period. Blue Trust Inc. grew its stake in Roku by 3,310.5% during the 2nd quarter. Blue Trust Inc. now owns 2,592 shares of the company’s stock worth $169,000 after buying an additional 2,516 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its position in Roku by 14.4% in the second quarter. First Horizon Advisors Inc. now owns 3,531 shares of the company’s stock worth $212,000 after buying an additional 445 shares during the period. 86.30% of the stock is owned by institutional investors and hedge funds.

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.