Roku (NASDAQ:ROKU) Trading Down 0.9% After Insider Selling

Roku, Inc. (NASDAQ:ROKU) shares fell 0.9% on Thursday after an insider sold shares in the company. The stock traded as low as $76.50 and last traded at $76.87. 263,291 shares were traded during mid-day trading, a decline of 94% from the average session volume of 4,390,918 shares. The stock had previously closed at $77.56.

Specifically, CFO Dan Jedda sold 1,000 shares of Roku stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $76.25, for a total value of $76,250.00. Following the completion of the sale, the chief financial officer now owns 53,267 shares of the company’s stock, valued at approximately $4,061,608.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $77.20, for a total transaction of $1,930,000.00. Following the completion of the sale, the chief executive officer now directly owns 5,020 shares of the company’s stock, valued at approximately $387,544. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here.

Analysts Set New Price Targets

Several research firms recently issued reports on ROKU. Benchmark reaffirmed a “buy” rating and issued a $105.00 price objective on shares of Roku in a research note on Thursday, September 12th. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 target price on shares of Roku in a report on Friday, September 13th. Wells Fargo & Company upgraded shares of Roku from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $50.00 to $72.00 in a report on Thursday, September 5th. Guggenheim upgraded shares of Roku from a “neutral” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Friday, August 23rd. Finally, Robert W. Baird lifted their target price on shares of Roku from $56.00 to $75.00 and gave the stock a “neutral” rating in a report on Monday, September 30th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $81.24.

Roku Price Performance

The stock’s 50-day simple moving average is $70.03 and its 200 day simple moving average is $62.72.

Roku (NASDAQ:ROKU) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.21. The firm had revenue of $968.18 million for the quarter, compared to analyst estimates of $937.78 million. Roku had a negative net margin of 13.16% and a negative return on equity of 21.03%. The company’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.76) earnings per share. Equities research analysts predict that Roku, Inc. will post -1.44 EPS for the current year.

Hedge Funds Weigh In On Roku

Large investors have recently modified their holdings of the stock. Benjamin Edwards Inc. lifted its position in shares of Roku by 43.5% during the first quarter. Benjamin Edwards Inc. now owns 617 shares of the company’s stock worth $40,000 after purchasing an additional 187 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Roku by 123.4% during the second quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company’s stock worth $40,000 after purchasing an additional 375 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new position in shares of Roku during the third quarter worth approximately $43,000. Geneos Wealth Management Inc. lifted its position in shares of Roku by 835.6% during the first quarter. Geneos Wealth Management Inc. now owns 683 shares of the company’s stock worth $45,000 after purchasing an additional 610 shares in the last quarter. Finally, Cedar Wealth Management LLC acquired a new position in shares of Roku during the second quarter worth approximately $48,000. 86.30% of the stock is currently owned by institutional investors and hedge funds.

About Roku

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.