Roku (NASDAQ:ROKU) Shares Down 1.7% Following Insider Selling

Roku, Inc. (NASDAQ:ROKU)’s share price fell 1.7% during mid-day trading on Monday after an insider sold shares in the company. The company traded as low as $76.51 and last traded at $77.00. 545,517 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 4,414,283 shares. The stock had previously closed at $78.37.

Specifically, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction dated Thursday, October 10th. The stock was 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 in the company, valued at approximately $387,544. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ROKU. Bank of America raised their price objective on Roku from $75.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Moffett Nathanson upgraded Roku from a “sell” rating to a “neutral” rating and set a $80.00 price objective for the company in a research report on Tuesday, October 1st. Benchmark reaffirmed a “buy” rating and set a $105.00 price target on shares of Roku in a research note on Thursday, September 12th. Wells Fargo & Company raised Roku from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $50.00 to $72.00 in a research note on Thursday, September 5th. Finally, Wolfe Research raised Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 price target for the company in a research note on Thursday, September 12th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $81.24.

Roku Trading Up 3.4 %

The company has a market cap of $11.42 billion, a price-to-earnings ratio of -22.75 and a beta of 2.08. The company has a fifty day moving average price of $68.59 and a two-hundred day moving average price of $62.42.

Roku (NASDAQ:ROKU) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.21. The company had revenue of $968.18 million for the quarter, compared to analyst estimates of $937.78 million. Roku had a negative return on equity of 21.03% and a negative net margin of 13.16%. Roku’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.76) EPS. Sell-side analysts anticipate that Roku, Inc. will post -1.44 EPS for the current fiscal year.

Institutional Trading of Roku

Several institutional investors have recently bought and sold shares of the stock. ARK Investment Management LLC boosted its stake in Roku by 1.3% in the 2nd quarter. ARK Investment Management LLC now owns 12,716,432 shares of the company’s stock valued at $762,096,000 after buying an additional 159,785 shares in the last quarter. Vanguard Group Inc. raised its position in Roku by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 11,946,605 shares of the company’s stock valued at $778,560,000 after purchasing an additional 92,658 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in Roku by 24.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,349,067 shares of the company’s stock valued at $478,939,000 after purchasing an additional 1,457,925 shares during the last quarter. Nikko Asset Management Americas Inc. raised its position in Roku by 25.8% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 7,091,891 shares of the company’s stock valued at $462,108,000 after purchasing an additional 1,455,408 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Roku by 5.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 500,794 shares of the company’s stock valued at $30,013,000 after purchasing an additional 24,926 shares during the last quarter. Institutional investors and hedge funds 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.