Roku (NASDAQ:ROKU) Trading Up 1.2% – Time to Buy?

Roku, Inc. (NASDAQ:ROKU) was up 1.2% on Monday . The stock traded as high as $89.76 and last traded at $88.23. Approximately 2,064,046 shares traded hands during mid-day trading, a decline of 41% from the average daily volume of 3,498,615 shares. The stock had previously closed at $87.15.

Analyst Ratings Changes

Several analysts recently commented on ROKU shares. Piper Sandler reiterated an “overweight” rating and set a $140.00 price target (up from $135.00) on shares of Roku in a research report on Friday, February 13th. Pivotal Research raised their price objective on Roku from $135.00 to $140.00 and gave the company a “buy” rating in a report on Monday, February 16th. Benchmark reaffirmed a “buy” rating on shares of Roku in a research note on Wednesday, February 4th. Wall Street Zen raised shares of Roku from a “hold” rating to a “buy” rating in a report on Sunday, December 7th. Finally, UBS Group reiterated a “neutral” rating and issued a $110.00 target price on shares of Roku in a research report on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Roku has an average rating of “Moderate Buy” and an average price target of $126.75.

Roku Stock Up 1.2%

The stock has a market cap of $13.01 billion, a PE ratio of 154.79 and a beta of 1.98. The stock has a 50-day moving average of $94.94 and a 200 day moving average of $99.56.

Roku (NASDAQ:ROKU) last issued its earnings results on Thursday, February 12th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.25. Roku had a return on equity of 3.40% and a net margin of 1.87%.The company had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same period in the prior year, the business earned ($0.24) EPS. The firm’s quarterly revenue was up 16.1% on a year-over-year basis. Research analysts forecast that Roku, Inc. will post -0.3 EPS for the current fiscal year.

Insider Transactions at Roku

In related news, CEO Anthony J. Wood sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $99.68, for a total transaction of $4,984,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Dan Jedda sold 15,000 shares of Roku stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $94.23, for a total transaction of $1,413,450.00. Following the transaction, the chief financial officer directly owned 85,115 shares in the company, valued at $8,020,386.45. This trade represents a 14.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 213,124 shares of company stock valued at $21,433,878 in the last three months. 13.98% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC boosted its position in shares of Roku by 275.5% during the third quarter. AQR Capital Management LLC now owns 2,586,125 shares of the company’s stock worth $258,897,000 after buying an additional 1,897,407 shares during the period. Fred Alger Management LLC grew its stake in shares of Roku by 7,087.7% in the fourth quarter. Fred Alger Management LLC now owns 1,421,440 shares of the company’s stock valued at $154,212,000 after buying an additional 1,401,664 shares in the last quarter. Holocene Advisors LP raised its holdings in shares of Roku by 352.3% in the 3rd quarter. Holocene Advisors LP now owns 1,650,448 shares of the company’s stock valued at $165,259,000 after buying an additional 1,285,585 shares during the period. Norges Bank purchased a new stake in shares of Roku in the 4th quarter valued at $92,808,000. Finally, Alyeska Investment Group L.P. lifted its stake in Roku by 380.9% during the 4th quarter. Alyeska Investment Group L.P. now owns 882,915 shares of the company’s stock worth $95,787,000 after acquiring an additional 699,336 shares in the last quarter. 86.30% of the stock is currently owned by hedge funds and other institutional investors.

About Roku

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.