Roku (NASDAQ:ROKU) Shares Down 0.2% Following Insider Selling

Roku, Inc. (NASDAQ:ROKU)’s share price traded down 0.2% during trading on Wednesday after an insider sold shares in the company. The stock traded as low as $82.21 and last traded at $83.24. 318,332 shares changed hands during mid-day trading, a decline of 93% from the average session volume of 4,368,117 shares. The stock had previously closed at $83.39.

Specifically, CFO Dan Jedda sold 1,000 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $82.73, for a total transaction of $82,730.00. Following the sale, the chief financial officer now owns 64,555 shares of the company’s stock, valued at $5,340,635.15. This represents a 1.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $82.64, for a total value of $2,066,000.00. Following the completion of the transaction, the chief executive officer now directly owns 26,538 shares of the company’s stock, valued at $2,193,100.32. This represents a 48.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ROKU. Piper Sandler raised their price target on Roku from $60.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Wells Fargo & Company raised their target price on shares of Roku from $72.00 to $74.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Wolfe Research upgraded shares of Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 price target on the stock in a research report on Thursday, September 12th. Moffett Nathanson raised shares of Roku from a “sell” rating to a “neutral” rating and set a $80.00 price objective on the stock in a research note on Tuesday, October 1st. Finally, Morgan Stanley upped their target price on Roku from $60.00 to $65.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 29th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $83.81.

Roku Stock Performance

The business has a fifty day simple moving average of $75.24 and a 200-day simple moving average of $67.40. The firm has a market cap of $11.40 billion, a price-to-earnings ratio of -65.41 and a beta of 2.06.

Roku (NASDAQ:ROKU) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the prior year, the firm posted ($2.33) earnings per share. The firm’s revenue was up 16.5% compared to the same quarter last year. On average, equities analysts anticipate that Roku, Inc. will post -1.1 earnings per share for the current year.

Hedge Funds Weigh In On Roku

Several institutional investors and hedge funds have recently added to or reduced their stakes in ROKU. Raelipskie Partnership bought a new stake in shares of Roku in the third quarter worth $32,000. Future Financial Wealth Managment LLC acquired a new position in Roku during the 3rd quarter worth about $43,000. GS Investments Inc. lifted its holdings in Roku by 33.4% during the 3rd quarter. GS Investments Inc. now owns 587 shares of the company’s stock worth $44,000 after buying an additional 147 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of Roku by 123.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company’s stock valued at $40,000 after buying an additional 375 shares during the last quarter. Finally, Cedar Wealth Management LLC acquired a new stake in shares of Roku in the second quarter valued at about $48,000. 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.