Roku (NASDAQ:ROKU) Stock Price Down 0.9% on Insider Selling

Roku, Inc. (NASDAQ:ROKU) shares fell 0.9% during mid-day trading 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 changed hands 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 the company’s stock in a transaction dated Tuesday, October 15th. The stock was 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 directly owns 53,267 shares of the company’s stock, valued at $4,061,608.75. This 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. Also, CEO Anthony J. Wood sold 25,000 shares of the company’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $77.20, for a total value 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. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Wolfe Research upgraded Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 price objective for the company in a research report on Thursday, September 12th. Wells Fargo & Company raised Roku from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $50.00 to $72.00 in a research report on Thursday, September 5th. Wedbush reaffirmed an “outperform” rating and set a $75.00 price target on shares of Roku in a research report on Friday, August 2nd. Guggenheim raised Roku from a “neutral” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Friday, August 23rd. Finally, Robert W. Baird increased their price objective on Roku from $56.00 to $75.00 and gave the company a “neutral” rating in a report on Monday, September 30th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $81.24.

Roku Trading Up 4.1 %

The stock has a market cap of $11.59 billion, a P/E ratio of -23.07 and a beta of 2.08. The firm has a 50-day simple moving average of $70.53 and a two-hundred day simple moving average of $62.83.

Roku (NASDAQ:ROKU) last posted 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 business had revenue of $968.18 million during the quarter, compared to the consensus estimate 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 in the previous year, the firm earned ($0.76) earnings per share. Sell-side analysts predict that Roku, Inc. will post -1.44 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. grew its position in Roku by 227.7% in the third quarter. Blue Trust Inc. now owns 8,494 shares of the company’s stock valued at $634,000 after acquiring an additional 5,902 shares during the last quarter. Richard W. Paul & Associates LLC grew its position in Roku by 27.3% in the third quarter. Richard W. Paul & Associates LLC now owns 15,820 shares of the company’s stock valued at $1,181,000 after acquiring an additional 3,395 shares during the last quarter. Cornerstone Wealth Management LLC bought a new stake in shares of Roku during the third quarter worth about $212,000. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its holdings in shares of Roku by 43.3% during the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 13,739 shares of the company’s stock worth $1,026,000 after purchasing an additional 4,151 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its holdings in shares of Roku by 900.0% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,000 shares of the company’s stock worth $75,000 after purchasing an additional 900 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.