Roku (NASDAQ:ROKU) Stock Price Up 2.8% – Still a Buy?

Roku, Inc. (NASDAQ:ROKU)’s share price was up 2.8% during trading on Friday . The company traded as high as $66.50 and last traded at $66.46. Approximately 1,103,455 shares changed hands during trading, a decline of 72% from the average daily volume of 3,945,865 shares. The stock had previously closed at $64.65.

Analyst Ratings Changes

A number of research analysts have issued reports on ROKU shares. Redburn Atlantic upgraded shares of Roku from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a report on Monday, April 7th. Rosenblatt Securities reissued a “neutral” rating and set a $86.00 price objective on shares of Roku in a research note on Thursday, February 13th. Pivotal Research upgraded shares of Roku from a “hold” rating to a “buy” rating and raised their target price for the stock from $65.00 to $125.00 in a research report on Friday, February 14th. Citizens Jmp upgraded Roku to a “strong-buy” rating in a report on Tuesday, January 21st. Finally, Needham & Company LLC restated a “buy” rating and set a $88.50 price objective on shares of Roku in a report on Thursday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Roku currently has a consensus rating of “Moderate Buy” and an average price target of $91.50.

Roku Price Performance

The company has a market cap of $9.59 billion, a price-to-earnings ratio of -73.83 and a beta of 2.17. The company’s 50-day simple moving average is $70.99 and its 200-day simple moving average is $75.53.

Roku (NASDAQ:ROKU) last released its quarterly earnings results on Thursday, February 13th. The company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.20. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.15 billion. Equities analysts predict that Roku, Inc. will post -0.3 EPS for the current fiscal year.

Insider Transactions at Roku

In other news, CAO Matthew C. Banks sold 1,906 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $80.36, for a total transaction of $153,166.16. Following the completion of the transaction, the chief accounting officer now directly owns 7,256 shares in the company, valued at approximately $583,092.16. This represents a 20.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $87.93, for a total transaction of $2,198,250.00. Following the sale, the chief executive officer now directly owns 26,538 shares of the company’s stock, valued at $2,333,486.34. The trade was a 48.51 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 71,905 shares of company stock valued at $6,560,876. 13.98% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. FMR LLC raised its stake in shares of Roku by 31.7% in the 4th quarter. FMR LLC now owns 19,183,942 shares of the company’s stock valued at $1,426,134,000 after purchasing an additional 4,613,570 shares in the last quarter. Vanguard Group Inc. raised its stake in Roku by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 12,249,091 shares of the company’s stock valued at $910,597,000 after buying an additional 185,676 shares in the last quarter. Marshall Wace LLP raised its stake in Roku by 663.9% during the fourth quarter. Marshall Wace LLP now owns 2,335,813 shares of the company’s stock valued at $173,644,000 after buying an additional 2,030,036 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in Roku by 10.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,269,751 shares of the company’s stock worth $168,734,000 after buying an additional 215,841 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Roku by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 2,147,259 shares of the company’s stock worth $159,353,000 after acquiring an additional 56,820 shares in the last quarter. 86.30% of the stock is currently owned by institutional investors.

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.