Roku (NASDAQ:ROKU) Trading Up 3.9% – Time to Buy?

by · The Markets Daily

Roku, Inc. (NASDAQ:ROKU – Get Free Report)’s stock price traded up 3.9% on Monday . The company traded as high as $76.79 and last traded at $76.67. 892,224 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 4,425,953 shares. The stock had previously closed at $73.82.

Analysts Set New Price Targets

ROKU has been the topic of a number of research analyst reports. Piper Sandler raised their price objective on shares of Roku from $60.00 to $75.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Wolfe Research upgraded Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 price target on the stock in a research report on Thursday, September 12th. Guggenheim upgraded Roku from a “neutral” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Friday, August 23rd. Moffett Nathanson raised Roku from a “sell” rating to a “neutral” rating and set a $80.00 target price on the stock in a report on Tuesday, October 1st. Finally, Robert W. Baird boosted their price target on shares of Roku from $56.00 to $75.00 and gave the stock a “neutral” rating in a research report on Monday, September 30th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $83.95.

Check Out Our Latest Report on Roku

Roku Stock Performance

The company has a market cap of $10.92 billion, a PE ratio of -62.68 and a beta of 2.07. The company has a 50 day simple moving average of $73.89 and a two-hundred day simple moving average of $64.44.

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

Insiders Place Their Bets

In other news, insider Gilbert Fuchsberg sold 1,693 shares of Roku stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total transaction of $109,012.27. Following the completion of the sale, the insider now directly owns 38,602 shares in the company, valued at $2,485,582.78. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Gilbert Fuchsberg sold 1,693 shares of Roku stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $64.39, for a total value of $109,012.27. Following the completion of the sale, the insider now owns 38,602 shares of the company’s stock, valued at approximately $2,485,582.78. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Anthony J. Wood sold 25,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $75.00, for a total value of $1,875,000.00. Following the sale, the chief executive officer now owns 5,020 shares of the company’s stock, valued at approximately $376,500. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 69,776 shares of company stock valued at $5,267,305 in the last three months. Insiders own 13.98% of the company’s stock.

Institutional Trading of Roku

Several large investors have recently modified their holdings of the company. Brooklyn Investment Group acquired a new position in Roku during the 3rd quarter worth $95,000. FMR LLC lifted its position in shares of Roku by 1.7% during the 3rd quarter. FMR LLC now owns 14,570,372 shares of the company’s stock worth $1,087,824,000 after purchasing an additional 244,793 shares during the last quarter. Mirabella Financial Services LLP acquired a new position in shares of Roku during the 3rd quarter worth about $2,104,000. Westfield Capital Management Co. LP boosted its stake in Roku by 126.1% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,535,576 shares of the company’s stock valued at $114,646,000 after purchasing an additional 856,401 shares during the period. Finally, Algert Global LLC grew its holdings in Roku by 26.5% in the 3rd quarter. Algert Global LLC now owns 69,777 shares of the company’s stock valued at $5,210,000 after buying an additional 14,600 shares during the last quarter. 86.30% of the stock is owned by institutional investors.

About Roku

(Get Free Report)

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.

See Also