Roku (NASDAQ:ROKU) Trading Down 0.4% Following Insider Selling

Roku, Inc. (NASDAQ:ROKU)’s stock price fell 0.4% during trading on Tuesday after an insider sold shares in the company. The company traded as low as $75.68 and last traded at $76.39. 558,801 shares changed hands during trading, a decline of 80% from the average session volume of 2,853,085 shares. The stock had previously closed at $76.66.

Specifically, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $79.77, for a total value of $1,994,250.00. Following the sale, the chief executive officer now owns 26,538 shares of the company’s stock, valued at $2,116,936.26. The trade was a 48.51 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Analysts Set New Price Targets

A number of research firms have issued reports on ROKU. Jefferies Financial Group reduced their price objective on Roku from $60.00 to $55.00 and set an “underperform” rating on the stock in a research note on Friday, November 1st. Robert W. Baird raised Roku from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $70.00 to $90.00 in a research note on Monday, November 18th. Macquarie reiterated an “outperform” rating and issued a $90.00 target price on shares of Roku in a report on Thursday, October 31st. Wedbush reiterated an “outperform” rating and issued a $100.00 target price on shares of Roku in a report on Wednesday, January 8th. Finally, Bank of America boosted their price objective on Roku from $75.00 to $90.00 and gave the company a “buy” rating in a report on Monday, September 30th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $82.62.

Roku Trading Up 2.3 %

The stock has a market capitalization of $11.11 billion, a P/E ratio of -63.77 and a beta of 2.05. The company has a 50-day moving average price of $76.64 and a 200 day moving average price of $70.53.

Roku (NASDAQ:ROKU) last announced its earnings results 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 for the quarter, compared to analyst estimates of $1.02 billion. During the same period in the prior year, the company posted ($2.33) EPS. The firm’s quarterly revenue was up 16.5% compared to the same quarter last year. As a group, research analysts expect that Roku, Inc. will post -1.1 earnings per share for the current year.

Institutional Trading of Roku

Large investors have recently added to or reduced their stakes in the company. Raelipskie Partnership purchased a new stake in Roku during the 3rd quarter valued at about $32,000. EverSource Wealth Advisors LLC boosted its position in 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 purchased a new position in Roku during the third quarter worth approximately $43,000. GS Investments Inc. raised its holdings in shares of Roku by 33.4% during the third quarter. GS Investments Inc. now owns 587 shares of the company’s stock valued at $44,000 after acquiring an additional 147 shares during the last quarter. Finally, Cedar Wealth Management LLC acquired a new position in shares of Roku during the second quarter valued at approximately $48,000. Hedge funds and other institutional investors own 86.30% of the company’s stock.

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.