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

Shares of Roku, Inc. (NASDAQ:ROKU) dropped 0.3% during mid-day trading on Tuesday following insider selling activity. The stock traded as low as $53.52 and last traded at $53.83. Approximately 604,665 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 5,052,246 shares. The stock had previously closed at $53.97.

Specifically, Director Mai Fyfield sold 650 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $57.88, for a total transaction of $37,622.00. Following the completion of the sale, the director now directly owns 3,259 shares of the company’s stock, valued at approximately $188,630.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Roku news, Director Mai Fyfield sold 650 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $57.88, for a total transaction of $37,622.00. Following the transaction, the director now directly owns 3,259 shares in the company, valued at approximately $188,630.92. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Stephen H. Kay sold 3,322 shares of Roku 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 $4,683,435.24. The disclosure for this sale can be found here. Insiders sold 23,898 shares of company stock worth $1,347,966 over the last three months. 13.98% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

ROKU has been the subject of a number of recent analyst reports. Rosenblatt Securities restated a “neutral” rating and issued a $89.00 price objective on shares of Roku in a research note on Friday, April 26th. Wells Fargo & Company boosted their target price on shares of Roku from $45.00 to $52.00 and gave the company an “underweight” rating in a research note on Friday, April 26th. Citigroup decreased their price target on shares of Roku from $75.00 to $70.00 and set a “neutral” rating for the company in a research note on Tuesday, April 30th. Morgan Stanley dropped their price objective on Roku from $65.00 to $60.00 and set an “underweight” rating on the stock in a research note on Friday, April 5th. Finally, Benchmark decreased their target price on Roku from $115.00 to $105.00 and set a “buy” rating for the company in a research report on Friday, April 26th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $82.50.

Roku Price Performance

The firm’s fifty day moving average price is $58.31 and its two-hundred day moving average price is $72.85. The stock has a market cap of $7.57 billion, a P/E ratio of -13.17 and a beta of 1.92.

Roku (NASDAQ:ROKU) last released its quarterly earnings results on Thursday, April 25th. The company reported ($0.35) earnings per share for the quarter, beating the consensus estimate of ($0.64) by $0.29. The firm had revenue of $881.50 million for the quarter, compared to analysts’ expectations of $843.54 million. Roku had a negative return on equity of 23.81% and a negative net margin of 15.64%. The company’s revenue was up 19.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.38) EPS. On average, research analysts expect that Roku, Inc. will post -1.94 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Roku

Institutional investors have recently made changes to their positions in the stock. Deutsche Bank AG boosted its holdings in shares of Roku by 27.6% in the 3rd quarter. Deutsche Bank AG now owns 154,729 shares of the company’s stock worth $10,922,000 after purchasing an additional 33,500 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Roku by 6.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 14,567 shares of the company’s stock worth $1,028,000 after acquiring an additional 943 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in shares of Roku by 25.1% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 14,693 shares of the company’s stock worth $1,016,000 after acquiring an additional 2,952 shares during the last quarter. Korea Investment CORP boosted its stake in shares of Roku by 15.2% in the 3rd quarter. Korea Investment CORP now owns 20,183 shares of the company’s stock valued at $1,425,000 after purchasing an additional 2,657 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Roku by 7.1% during the 3rd quarter. Invesco Ltd. now owns 231,029 shares of the company’s stock valued at $16,308,000 after purchasing an additional 15,379 shares during 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.