Roku (NASDAQ:ROKU) Trading Down 1% Following Insider Selling

Roku, Inc. (NASDAQ:ROKU)’s share price dropped 1% on Monday following insider selling activity. The company traded as low as $53.71 and last traded at $53.98. Approximately 622,086 shares were traded during trading, a decline of 88% from the average daily volume of 5,070,023 shares. The stock had previously closed at $54.51.

Specifically, SVP Stephen H. Kay sold 3,322 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $57.09, for a total transaction of $189,652.98. Following the transaction, the senior vice president now directly owns 82,036 shares in the company, valued at approximately $4,683,435.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Stephen H. Kay sold 3,322 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $57.09, for a total value of $189,652.98. Following the completion of the transaction, the senior vice president now owns 82,036 shares in the company, valued at approximately $4,683,435.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Stephen H. Kay sold 12,124 shares of the firm’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $55.59, for a total value of $673,973.16. Following the completion of the transaction, the senior vice president now owns 91,905 shares of the company’s stock, valued at approximately $5,108,998.95. The disclosure for this sale can be found here. Insiders have sold 23,898 shares of company stock worth $1,347,966 in the last ninety days. 13.98% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Wells Fargo & Company upped their price target on Roku from $45.00 to $52.00 and gave the stock an “underweight” rating in a report on Friday, April 26th. Morgan Stanley reduced their price target on Roku from $65.00 to $60.00 and set an “underweight” rating for the company in a report on Friday, April 5th. Susquehanna reduced their price target on Roku from $110.00 to $80.00 and set a “positive” rating for the company in a report on Monday, April 29th. Piper Sandler reaffirmed a “neutral” rating and issued a $65.00 price target (down previously from $81.00) on shares of Roku in a report on Friday, April 26th. Finally, Seaport Res Ptn raised Roku from a “neutral” rating to a “buy” rating in a report on Monday, April 29th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $82.50.

Roku Price Performance

The firm has a 50-day moving average of $58.48 and a two-hundred day moving average of $72.99.

Roku (NASDAQ:ROKU) last issued its quarterly earnings data on Thursday, April 25th. The company reported ($0.35) earnings per share for the quarter, topping the consensus estimate of ($0.64) by $0.29. The company had revenue of $881.50 million during the quarter, compared to analyst estimates of $843.54 million. Roku had a negative return on equity of 23.81% and a negative net margin of 15.64%. The firm’s revenue for the quarter was up 19.0% compared to the same quarter last year. During the same period in the prior year, the business posted ($1.38) earnings per share. As a group, analysts anticipate that Roku, Inc. will post -1.94 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ROKU. GAMMA Investing LLC acquired a new stake in shares of Roku in the fourth quarter valued at $27,000. Creative Financial Designs Inc. ADV acquired a new stake in shares of Roku in the fourth quarter valued at $29,000. Quarry LP raised its stake in shares of Roku by 160.2% in the fourth quarter. Quarry LP now owns 432 shares of the company’s stock valued at $40,000 after acquiring an additional 266 shares in the last quarter. Federated Hermes Inc. acquired a new stake in Roku in the third quarter valued at $37,000. Finally, Headinvest LLC acquired a new stake in Roku in the third quarter valued at $42,000. 86.30% of the stock is currently owned by institutional investors and hedge funds.

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.