Roku (NASDAQ:ROKU) Stock Price Up 3.4% – Time to Buy?

Shares of Roku, Inc. (NASDAQ:ROKU) rose 3.4% during mid-day trading on Wednesday . The company traded as high as $132.80 and last traded at $131.91. Approximately 2,422,919 shares traded hands during trading, a decline of 22% from the average daily volume of 3,119,248 shares. The stock had previously closed at $127.61.

Analyst Upgrades and Downgrades

ROKU has been the topic of a number of recent research reports. Wedbush upped their price objective on Roku from $140.00 to $155.00 and gave the company an “outperform” rating in a research report on Friday, May 1st. Needham & Company LLC upped their price objective on Roku from $110.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Moffett Nathanson restated a “neutral” rating and set a $100.00 price objective on shares of Roku in a research report on Friday, February 13th. Stifel Nicolaus set a $160.00 price objective on Roku in a research report on Monday, March 2nd. Finally, Robert W. Baird upped their price objective on Roku from $130.00 to $160.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Twenty-two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $144.46.

Roku Stock Down 0.7%

The stock has a market cap of $19.19 billion, a P/E ratio of 97.88 and a beta of 2.04. The business has a 50 day moving average price of $111.65 and a 200 day moving average price of $104.21.

Roku (NASDAQ:ROKU) last released its earnings results on Thursday, April 30th. The company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.23. The firm had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Roku had a return on equity of 7.64% and a net margin of 4.06%.The company’s quarterly revenue was up 22.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.19) earnings per share. On average, research analysts expect that Roku, Inc. will post 2.41 earnings per share for the current fiscal year.

Insider Transactions at Roku

In related news, insider Gilbert Fuchsberg sold 9,593 shares of the stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $125.52, for a total value of $1,204,113.36. Following the transaction, the insider owned 50,863 shares of the company’s stock, valued at $6,384,323.76. This represents a 15.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Charles Collier sold 205,821 shares of the stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $105.00, for a total value of $21,611,205.00. Following the completion of the transaction, the insider directly owned 11,131 shares in the company, valued at approximately $1,168,755. This trade represents a 94.87% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 692,038 shares of company stock worth $76,667,575 in the last ninety days. 13.45% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Raleigh Capital Management Inc. lifted its position in Roku by 6.5% in the first quarter. Raleigh Capital Management Inc. now owns 1,522 shares of the company’s stock valued at $144,000 after acquiring an additional 93 shares during the last quarter. Apollon Wealth Management LLC lifted its position in Roku by 1.5% in the fourth quarter. Apollon Wealth Management LLC now owns 6,450 shares of the company’s stock valued at $700,000 after acquiring an additional 96 shares during the last quarter. Cornerstone Wealth Management LLC lifted its position in Roku by 3.8% in the third quarter. Cornerstone Wealth Management LLC now owns 2,728 shares of the company’s stock valued at $273,000 after acquiring an additional 100 shares during the last quarter. Thoroughbred Financial Services LLC lifted its position in Roku by 1.0% in the third quarter. Thoroughbred Financial Services LLC now owns 9,945 shares of the company’s stock valued at $995,000 after acquiring an additional 100 shares during the last quarter. Finally, Quantum Portfolio Management LLC lifted its position in Roku by 2.6% in the first quarter. Quantum Portfolio Management LLC now owns 4,135 shares of the company’s stock valued at $391,000 after acquiring an additional 105 shares during the last quarter. Institutional investors own 86.30% of the company’s stock.

Roku Company Profile

Roku, Inc (NASDAQ: ROKU) is a technology company that develops and operates a proprietary streaming platform designed to deliver entertainment content to consumers via internet-connected devices and smart televisions. Since its inception in 2002 in California, Roku has focused on simplifying access to streaming services for viewers worldwide. The company’s platform enables users to discover, access and manage a wide array of over-the-top content from major streaming services, free ad-supported channels and niche providers.

At the core of Roku’s product lineup are a range of streaming players and sticks, which connect to televisions via HDMI and deliver the Roku OS experience.