Roku (NASDAQ:ROKU) Stock Price Up 1.4% – Still a Buy?

Shares of Roku, Inc. (NASDAQ:ROKU) shot up 1.4% during trading on Thursday . The company traded as high as $142.67 and last traded at $142.43. Approximately 4,002,234 shares traded hands during trading, an increase of 3% from the average session volume of 3,882,997 shares. The stock had previously closed at $140.51.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ROKU. Needham & Company LLC increased their price target on shares of Roku from $140.00 to $170.00 and gave the stock a “buy” rating in a research note on Monday, June 15th. Morgan Stanley boosted their price objective on shares of Roku from $150.00 to $170.00 and gave the stock an “overweight” rating in a research note on Thursday, June 4th. Seaport Research Partners set a $155.00 price objective on shares of Roku in a report on Tuesday, June 16th. Citigroup reaffirmed an “outperform” rating on shares of Roku in a research note on Monday, June 15th. Finally, Citizens Jmp lowered shares of Roku from a “market outperform” rating to a “hold” rating in a report on Tuesday, June 16th. Eleven research analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the stock. According to MarketBeat.com, Roku has an average rating of “Hold” and an average price target of $153.71.

Roku Stock Up 1.4%

The firm’s fifty day moving average price is $127.18 and its two-hundred day moving average price is $109.84. The stock has a market capitalization of $21.00 billion, a PE ratio of 107.09 and a beta of 2.01.

Roku (NASDAQ:ROKU) last issued its quarterly earnings data on Thursday, April 30th. The company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.23. Roku had a net margin of 4.06% and a return on equity of 7.64%. The company had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the prior year, the firm earned ($0.19) earnings per share. The firm’s revenue for the quarter was up 22.4% compared to the same quarter last year. As a group, analysts predict that Roku, Inc. will post 2.41 EPS for the current year.

Insider Transactions at Roku

In related news, CEO Anthony J. Wood sold 75,000 shares of the company’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $128.79, for a total transaction of $9,659,250.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 dated Wednesday, April 8th. The shares were 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 represents a 94.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 710,466 shares of company stock worth $81,502,607 in the last ninety days. Insiders own 13.45% of the company’s stock.

Institutional Investors Weigh In On Roku

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Blue Trust Inc. boosted its holdings in shares of Roku by 680.0% in the fourth quarter. Blue Trust Inc. now owns 234 shares of the company’s stock worth $25,000 after buying an additional 204 shares during the last quarter. Aventura Private Wealth LLC purchased a new stake in Roku during the fourth quarter valued at approximately $26,000. Bayban raised its position in Roku by 1,300.0% in the first quarter. Bayban now owns 280 shares of the company’s stock worth $26,000 after acquiring an additional 260 shares during the period. WPG Advisers LLC bought a new position in Roku in the fourth quarter worth approximately $31,000. Finally, Safe Harbor Fiduciary LLC purchased a new position in shares of Roku during the 4th quarter worth $31,000. Hedge funds and other institutional investors own 86.30% of the company’s stock.

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.