Roku (NASDAQ:ROKU) Trading Down 1.5% After Insider Selling

Roku, Inc. (NASDAQ:ROKU)’s share price traded down 1.5% during mid-day trading on Tuesday following insider selling activity. The company traded as low as $81.63 and last traded at $82.23. 620,950 shares traded hands during trading, a decline of 86% from the average session volume of 4,378,192 shares. The stock had previously closed at $83.44.

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

Wall Street Analyst Weigh In

ROKU has been the topic of a number of recent research reports. JPMorgan Chase & Co. increased their target price on Roku from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. UBS Group began coverage on Roku in a research report on Friday, November 22nd. They issued a “neutral” rating and a $73.00 price objective on the stock. Rosenblatt Securities boosted their price target on Roku from $61.00 to $86.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Wells Fargo & Company boosted their target price on Roku from $72.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Finally, Jefferies Financial Group reduced their price target on shares of Roku from $60.00 to $55.00 and set an “underperform” rating for the company in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $83.81.

Roku Stock Down 0.1 %

The company has a market capitalization of $11.39 billion, a P/E ratio of -65.36 and a beta of 2.06. The business has a 50 day simple moving average of $75.26 and a 200-day simple moving average of $67.48.

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. FMR LLC boosted its position in Roku by 1.7% during the 3rd quarter. FMR LLC now owns 14,570,372 shares of the company’s stock worth $1,087,824,000 after acquiring an additional 244,793 shares during the period. ARK Investment Management LLC increased its stake in Roku by 1.3% in 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 during the period. Holocene Advisors LP purchased a new stake in Roku in the 3rd quarter worth approximately $129,015,000. Westfield Capital Management Co. LP boosted its stake in shares of Roku by 126.1% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,535,576 shares of the company’s stock valued at $114,646,000 after buying an additional 856,401 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Roku by 3.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 955,969 shares of the company’s stock worth $71,373,000 after purchasing an additional 30,038 shares in the last quarter. Institutional investors own 86.30% of the company’s stock.

Roku Company Profile

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.