Roku (NASDAQ:ROKU) Trading Up 2.7% – Still a Buy?

Shares of Roku, Inc. (NASDAQ:ROKU) were up 2.7% on Tuesday . The stock traded as high as $91.84 and last traded at $90.91. Approximately 3,282,467 shares traded hands during mid-day trading, an increase of 3% from the average daily volume of 3,192,584 shares. The stock had previously closed at $88.52.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Roku in a research report on Thursday, January 22nd. Bank of America raised their price objective on shares of Roku from $115.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, January 12th. Guggenheim boosted their price objective on shares of Roku from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, December 4th. Arete Research set a $132.00 price target on shares of Roku and gave the company a “buy” rating in a research report on Monday, January 5th. Finally, UBS Group upped their price target on Roku from $95.00 to $103.00 and gave the stock a “neutral” rating in a report on Monday, November 3rd. Twenty-three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $118.72.

Roku Stock Up 2.7%

The business’s fifty day moving average price is $104.63 and its 200 day moving average price is $99.07. The firm has a market capitalization of $13.43 billion, a PE ratio of -454.53 and a beta of 1.99.

Insider Activity at Roku

In related news, Director Neil D. Hunt sold 2,000 shares of the stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $108.98, for a total transaction of $217,960.00. Following the completion of the sale, the director owned 7,782 shares of the company’s stock, valued at approximately $848,082.36. This represents a 20.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Charles Collier sold 14,361 shares of Roku stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $94.99, for a total transaction of $1,364,151.39. Following the transaction, the insider directly owned 200 shares in the company, valued at approximately $18,998. This trade represents a 98.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 184,790 shares of company stock valued at $19,685,259 over the last 90 days. 13.98% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Roku

A number of hedge funds have recently made changes to their positions in the business. Blue Trust Inc. boosted its position in Roku by 680.0% during the 4th quarter. Blue Trust Inc. now owns 234 shares of the company’s stock worth $25,000 after purchasing an additional 204 shares during the period. Aventura Private Wealth LLC acquired a new position in shares of Roku during the fourth quarter worth about $26,000. WPG Advisers LLC purchased a new stake in shares of Roku in the fourth quarter worth about $31,000. Westfuller Advisors LLC acquired a new stake in shares of Roku in the third quarter valued at about $30,000. Finally, Root Financial Partners LLC acquired a new stake in shares of Roku in the third quarter valued at about $33,000. 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.