Roku (NASDAQ:ROKU) Shares Down 0.2% Following Insider Selling

Roku, Inc. (NASDAQ:ROKU)’s stock price dropped 0.2% during mid-day trading on Wednesday after an insider sold shares in the company. The stock traded as low as $82.21 and last traded at $83.24. Approximately 318,332 shares changed hands during mid-day trading, a decline of 93% from the average daily volume of 4,368,117 shares. The stock had previously closed at $83.39.

Specifically, CFO Dan Jedda sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $82.73, for a total transaction of $82,730.00. Following the transaction, the chief financial officer now directly owns 64,555 shares of the company’s stock, valued at $5,340,635.15. This represents a 1.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Anthony J. Wood sold 25,000 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $82.64, for a total transaction of $2,066,000.00. Following the transaction, the chief executive officer now owns 26,538 shares in the company, valued at approximately $2,193,100.32. The trade was a 48.51 % decrease in their position. The disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Baird R W upgraded Roku from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 18th. Needham & Company LLC restated a “buy” rating and set a $100.00 price target on shares of Roku in a report on Wednesday, December 4th. Benchmark reiterated a “buy” rating and issued a $105.00 price objective on shares of Roku in a research note on Thursday, September 12th. Wolfe Research raised Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 target price for the company in a report on Thursday, September 12th. Finally, Robert W. Baird upgraded Roku from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $70.00 to $90.00 in a report on Monday, November 18th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $83.81.

Roku Stock Up 0.4 %

The stock has a 50-day moving average of $75.24 and a 200-day moving average of $67.40. The company has a market cap of $12.15 billion, a PE ratio of -69.37 and a beta of 2.06.

Roku (NASDAQ:ROKU) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.29. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. Roku had a negative return on equity of 7.22% and a negative net margin of 4.42%. The company’s revenue for the quarter was up 16.5% on a year-over-year basis. During the same quarter last year, the company posted ($2.33) EPS. Research analysts expect that Roku, Inc. will post -1.1 EPS for the current year.

Institutional Trading of Roku

Several institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC increased its stake in Roku by 1.7% in the third quarter. FMR LLC now owns 14,570,372 shares of the company’s stock valued at $1,087,824,000 after acquiring an additional 244,793 shares during the last quarter. ARK Investment Management LLC raised its holdings in shares of Roku by 1.3% during the 2nd quarter. ARK Investment Management LLC now owns 12,716,432 shares of the company’s stock valued at $762,096,000 after buying an additional 159,785 shares in the last quarter. Holocene Advisors LP bought a new stake in Roku in the 3rd quarter worth approximately $129,015,000. Westfield Capital Management Co. LP grew its position in Roku by 126.1% during the third quarter. Westfield Capital Management Co. LP now owns 1,535,576 shares of the company’s stock valued at $114,646,000 after acquiring an additional 856,401 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Roku by 3.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 955,969 shares of the company’s stock worth $71,373,000 after acquiring an additional 30,038 shares in the last quarter. Hedge funds and other institutional investors own 86.30% of the company’s stock.

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.