Roku (NASDAQ:ROKU) Trading Up 0% – Should You Buy?

Roku, Inc. (NASDAQ:ROKU) shares rose 0% on Thursday . The stock traded as high as $69.72 and last traded at $68.74. Approximately 786,869 shares were traded during trading, a decline of 82% from the average daily volume of 4,416,027 shares. The stock had previously closed at $68.71.

Wall Street Analysts Forecast Growth

ROKU has been the subject of several analyst reports. JPMorgan Chase & Co. upped their target price on Roku from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Morgan Stanley raised their target price on Roku from $60.00 to $65.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 29th. UBS Group initiated coverage on Roku in a research note on Friday. They issued a “neutral” rating and a $73.00 price objective for the company. Wedbush raised their price target on shares of Roku from $75.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Finally, Wells Fargo & Company increased their target price on shares of Roku from $72.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.14.

Roku Stock Up 0.8 %

The firm’s fifty day moving average is $74.56 and its 200 day moving average is $65.00.

Roku (NASDAQ:ROKU) last released its earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share for the quarter, topping 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 business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same period last year, the business earned ($2.33) earnings per share. The firm’s revenue for the quarter was up 16.5% compared to the same quarter last year. On average, analysts expect that Roku, Inc. will post -1.1 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Gilbert Fuchsberg sold 1,693 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was 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 directly owns 38,602 shares in the company, valued at approximately $2,485,582.78. This trade represents a 4.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Dan Jedda sold 1,000 shares of Roku stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $75.00, for a total value of $75,000.00. Following the completion of the transaction, the chief financial officer now directly owns 65,555 shares of the company’s stock, valued at $4,916,625. This represents a 1.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 90,240 shares of company stock valued at $6,729,582 over the last quarter. Corporate insiders own 13.98% of the company’s stock.

Hedge Funds Weigh In On Roku

A number of large investors have recently modified their holdings of ROKU. Raelipskie Partnership bought a new stake in shares of Roku during the third quarter worth approximately $32,000. EverSource Wealth Advisors LLC grew its holdings in Roku by 123.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company’s stock worth $40,000 after acquiring an additional 375 shares during the period. Future Financial Wealth Managment LLC bought a new stake in shares of Roku during the 3rd quarter valued at $43,000. GS Investments Inc. raised its position in shares of Roku by 33.4% during the 3rd quarter. GS Investments Inc. now owns 587 shares of the company’s stock valued at $44,000 after acquiring an additional 147 shares during the last quarter. Finally, Cedar Wealth Management LLC bought a new position in shares of Roku in the 2nd quarter worth $48,000. 86.30% of the stock is currently 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.