Roku (NASDAQ:ROKU) Trading Down 1.8% Following Insider Selling

Roku, Inc. (NASDAQ:ROKU)’s share price traded down 1.8% on Monday after an insider sold shares in the company. The company traded as low as $77.01 and last traded at $77.75. 565,804 shares traded hands during trading, a decline of 81% from the average session volume of 2,904,740 shares. The stock had previously closed at $79.19.

Specifically, CEO Anthony J. Wood sold 25,000 shares of the company’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $79.77, for a total value of $1,994,250.00. Following the sale, the chief executive officer now owns 26,538 shares in the company, valued at approximately $2,116,936.26. The trade was a 48.51 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Analyst Upgrades and Downgrades

Several analysts recently commented on ROKU shares. Jefferies Financial Group reduced their target price on Roku from $60.00 to $55.00 and set an “underperform” rating on the stock in a report on Friday, November 1st. Macquarie reissued an “outperform” rating and set a $90.00 target price on shares of Roku in a research note on Thursday, October 31st. Bank of America upped their price target on shares of Roku from $75.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Baird R W raised Roku from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 18th. Finally, Rosenblatt Securities upped their target price on Roku from $61.00 to $86.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $82.62.

Roku Stock Up 2.3 %

The company has a 50-day moving average of $76.55 and a 200-day moving average of $70.49. The company has a market cap of $11.11 billion, a PE ratio of -63.77 and a beta of 2.05.

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

Institutional Investors Weigh In On Roku

A number of institutional investors have recently added to or reduced their stakes in the company. FMR LLC lifted its position in shares of 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 buying an additional 244,793 shares in the last quarter. Holocene Advisors LP purchased a new stake in shares of Roku during the third quarter valued at approximately $129,015,000. Westfield Capital Management Co. LP lifted its holdings 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 worth $114,646,000 after acquiring an additional 856,401 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Roku by 3.2% in the third 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 during the last quarter. Finally, Point72 Asset Management L.P. grew its stake in Roku by 352.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 651,658 shares of the company’s stock valued at $48,653,000 after purchasing an additional 507,643 shares during the period. 86.30% of the stock is owned by institutional investors.

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.