Roku (NASDAQ:ROKU) Shares Down 1.8% After Insider Selling

Roku, Inc. (NASDAQ:ROKU)’s stock price traded down 1.8% during trading on Wednesday after an insider sold shares in the company. The stock traded as low as $93.16 and last traded at $94.09. 756,970 shares were traded during trading, a decline of 79% from the average session volume of 3,685,883 shares. The stock had previously closed at $95.80.

Specifically, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $100.40, for a total value of $2,510,000.00. Following the completion of the transaction, the chief executive officer now owns 26,538 shares of the company’s stock, valued at approximately $2,664,415.20. This represents a 48.51 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Dan Jedda sold 2,000 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $99.95, for a total value of $199,900.00. Following the completion of the transaction, the chief financial officer now directly owns 56,555 shares of the company’s stock, valued at approximately $5,652,672.25. This trade represents a 3.42 % decrease in their position. The disclosure for this sale can be found here. In other news, CFO Dan Jedda sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $100.40, for a total transaction of $502,000.00. Following the completion of the transaction, the chief financial officer now directly owns 58,555 shares of the company’s stock, valued at $5,878,922. The trade was a 7.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on ROKU shares. Baird R W upgraded shares of Roku from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 18th. Wells Fargo & Company upgraded Roku from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $74.00 to $129.00 in a research report on Friday, February 14th. Piper Sandler increased their price target on Roku from $60.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Bank of America increased their price objective on shares of Roku from $90.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Finally, Wedbush reissued an “outperform” rating and issued a $100.00 price objective on shares of Roku in a research note on Monday, February 10th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Roku presently has an average rating of “Moderate Buy” and an average target price of $92.62.

Roku Trading Down 1.7 %

The company has a fifty day moving average of $80.86 and a 200-day moving average of $74.18. The stock has a market cap of $13.68 billion, a PE ratio of -105.72 and a beta of 2.05.

Roku (NASDAQ:ROKU) last issued its quarterly earnings results on Thursday, February 13th. The company reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.20. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Roku had a negative net margin of 3.15% and a negative return on equity of 5.39%. As a group, research analysts anticipate that Roku, Inc. will post -0.8 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Roku

A number of large investors have recently bought and sold shares of ROKU. Fourth Dimension Wealth LLC acquired a new stake in shares of Roku during the fourth quarter valued at $41,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Roku by 7.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 527,191 shares of the company’s stock valued at $39,191,000 after purchasing an additional 37,945 shares in the last quarter. Waverly Advisors LLC boosted its stake in shares of Roku by 8.2% during the 4th quarter. Waverly Advisors LLC now owns 3,765 shares of the company’s stock worth $280,000 after purchasing an additional 285 shares during the last quarter. Woodline Partners LP purchased a new stake in shares of Roku during the fourth quarter worth about $1,970,000. Finally, Twinbeech Capital LP acquired a new position in shares of Roku in the fourth quarter valued at approximately $4,615,000. Institutional investors and hedge funds 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.