Roku (NASDAQ:ROKU) Trading Down 0.3% After Insider Selling

Roku, Inc. (NASDAQ:ROKU)’s share price fell 0.3% during trading on Thursday after an insider sold shares in the company. The stock traded as low as $75.39 and last traded at $76.28. 537,523 shares changed hands during trading, a decline of 81% from the average session volume of 2,776,946 shares. The stock had previously closed at $76.53.

Specifically, CFO Dan Jedda sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $77.18, for a total transaction of $77,180.00. Following the sale, the chief financial officer now owns 63,555 shares in the company, valued at $4,905,174.90. This represents a 1.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Anthony J. Wood sold 25,000 shares of the company’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $79.77, for a total value of $1,994,250.00. Following the completion of the transaction, the chief executive officer now directly owns 26,538 shares in the company, valued at approximately $2,116,936.26. This represents a 48.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analysts Set New Price Targets

ROKU has been the topic of several analyst reports. Wells Fargo & Company increased their target price on Roku from $72.00 to $74.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Bank of America increased their target price on Roku from $75.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, September 30th. UBS Group initiated coverage on Roku in a research report on Friday, November 22nd. They set a “neutral” rating and a $73.00 price objective for the company. Piper Sandler raised their target price on Roku from $60.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Finally, Baird R W raised Roku from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 18th. Three analysts have rated the stock with a sell rating, eight have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $82.62.

Roku Stock Performance

The firm has a market capitalization of $11.02 billion, a PE ratio of -63.24 and a beta of 2.05. The company has a fifty day simple moving average of $76.74 and a two-hundred day simple moving average of $70.66.

Roku (NASDAQ:ROKU) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $1.02 billion. During the same period in the prior year, the company earned ($2.33) earnings per share. The company’s revenue was up 16.5% on a year-over-year basis. On average, equities analysts anticipate that Roku, Inc. will post -1.09 earnings per share for the current fiscal year.

Institutional Trading of Roku

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Holocene Advisors LP acquired a new position in shares of Roku in the 3rd quarter valued at $129,015,000. Kessler Investment Group LLC raised its holdings in shares of Roku by 21.8% in the 3rd quarter. Kessler Investment Group LLC now owns 75,968 shares of the company’s stock valued at $5,672,000 after buying an additional 13,590 shares during the period. National Bank of Canada FI raised its holdings in shares of Roku by 11,626.3% in the 3rd quarter. National Bank of Canada FI now owns 150,800 shares of the company’s stock valued at $11,259,000 after buying an additional 149,514 shares during the period. EULAV Asset Management raised its holdings in shares of Roku by 59.1% in the 3rd quarter. EULAV Asset Management now owns 183,000 shares of the company’s stock valued at $13,663,000 after buying an additional 68,000 shares during the period. Finally, Granite Bay Wealth Management LLC purchased a new stake in shares of Roku in the 2nd quarter valued at $1,142,000. 86.30% of the stock is currently owned by hedge funds and other 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.