Roku (NASDAQ:ROKU) Hits New 52-Week High – Time to Buy?

Roku, Inc. (NASDAQ:ROKU) reached a new 52-week high during trading on Tuesday . The company traded as high as $159.85 and last traded at $159.7520, with a volume of 570882 shares. The stock had previously closed at $158.18.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Rosenblatt Securities reiterated a “buy” rating and set a $160.00 price target on shares of Roku in a report on Monday, August 10th. KeyCorp cut Roku from an “overweight” rating to a “sector weight” rating in a research note on Monday, June 15th. Needham & Company LLC reaffirmed a “buy” rating on shares of Roku in a research report on Friday, August 7th. Jefferies Financial Group cut shares of Roku from a “buy” rating to a “hold” rating and set a $160.00 target price on the stock. in a research note on Monday, June 15th. Finally, UBS Group boosted their price objective on shares of Roku from $126.00 to $172.00 and gave the company a “neutral” rating in a report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nineteen have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $156.17.

Roku Stock Down 0.7%

The firm has a market cap of $23.54 billion, a PE ratio of 67.78 and a beta of 2.01. The firm’s fifty day simple moving average is $145.66 and its two-hundred day simple moving average is $121.55.

Roku (NASDAQ:ROKU) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.47. Roku had a net margin of 6.82% and a return on equity of 13.73%. The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same period in the prior year, the company posted $0.07 earnings per share. The company’s revenue for the quarter was up 21.9% compared to the same quarter last year. As a group, analysts anticipate that Roku, Inc. will post 2.82 earnings per share for the current fiscal year.

Insider Transactions at Roku

In related news, insider Charles Collier sold 20,538 shares of the stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $142.51, for a total transaction of $2,926,870.38. Following the completion of the sale, the insider owned 15,200 shares in the company, valued at approximately $2,166,152. This trade represents a 57.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mustafa Ozgen sold 10,194 shares of the stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $144.00, for a total value of $1,467,936.00. Following the sale, the insider owned 19,185 shares of the company’s stock, valued at $2,762,640. This represents a 34.70% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 162,452 shares of company stock valued at $22,052,982. 13.45% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Roku

Institutional investors have recently added to or reduced their stakes in the stock. Absolute Gestao de Investimentos Ltda. bought a new stake in shares of Roku during the second quarter valued at approximately $8,427,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Roku during the second quarter worth $4,474,000. California State Teachers Retirement System boosted its position in shares of Roku by 13,741.7% during the second quarter. California State Teachers Retirement System now owns 20,912,738 shares of the company’s stock worth $2,888,886,000 after acquiring an additional 20,761,653 shares during the last quarter. Readystate Asset Management LP purchased a new position in Roku during the second quarter valued at $22,373,000. Finally, Wedmont Private Capital bought a new stake in Roku in the 2nd quarter valued at $262,000. 86.30% of the stock is 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.