Roku (NASDAQ:ROKU) Trading Down 1.5% on Insider Selling

Roku, Inc. (NASDAQ:ROKU) was down 1.5% during mid-day trading on Friday after an insider sold shares in the company. The company traded as low as $76.09 and last traded at $76.26. Approximately 655,810 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 4,568,213 shares. The stock had previously closed at $77.45.

Specifically, CFO Dan Jedda sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $75.33, for a total value of $75,330.00. Following the transaction, the chief financial officer now owns 54,267 shares of the company’s stock, valued at approximately $4,087,933.11. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Analysts Set New Price Targets

Several brokerages have recently commented on ROKU. Macquarie lowered their price objective on Roku from $88.00 to $72.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Needham & Company LLC restated a “buy” rating and set a $100.00 price objective on shares of Roku in a research note on Friday, September 13th. Guggenheim raised shares of Roku from a “neutral” rating to a “buy” rating and set a $75.00 price objective on the stock in a report on Friday, August 23rd. Wolfe Research upgraded shares of Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 target price for the company in a report on Thursday, September 12th. Finally, Wedbush restated an “outperform” rating and set a $75.00 price target on shares of Roku in a report on Friday, August 2nd. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $78.75.

Roku Stock Down 1.8 %

The firm has a market capitalization of $11.00 billion, a PE ratio of -19.05 and a beta of 2.06. The stock has a 50-day simple moving average of $63.33 and a 200-day simple moving average of $61.16.

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 during 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%. The firm’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.76) EPS. Equities analysts forecast that Roku, Inc. will post -1.45 earnings per share for the current fiscal year.

Institutional Trading of Roku

Several hedge funds and other institutional investors have recently modified their holdings of ROKU. Mcdonald Partners LLC lifted its holdings in Roku by 0.9% during the 2nd quarter. Mcdonald Partners LLC now owns 19,608 shares of the company’s stock worth $1,175,000 after purchasing an additional 175 shares in the last quarter. Benjamin Edwards Inc. lifted its holdings in shares of Roku by 43.5% in the first quarter. Benjamin Edwards Inc. now owns 617 shares of the company’s stock worth $40,000 after buying an additional 187 shares in the last quarter. Beacon Capital Management LLC boosted its position in shares of Roku by 17.7% in the first quarter. Beacon Capital Management LLC now owns 1,547 shares of the company’s stock valued at $101,000 after acquiring an additional 233 shares during the period. Arizona State Retirement System grew its stake in Roku by 0.7% during the second quarter. Arizona State Retirement System now owns 34,656 shares of the company’s stock valued at $2,077,000 after acquiring an additional 251 shares in the last quarter. Finally, Quarry LP increased its holdings in Roku by 160.2% during the 4th quarter. Quarry LP now owns 432 shares of the company’s stock worth $40,000 after acquiring an additional 266 shares during the period. 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.