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

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

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

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on ROKU shares. Morgan Stanley lifted their target price on Roku from $60.00 to $65.00 and gave the company an “underweight” rating in a research note on Tuesday, October 29th. Robert W. Baird upgraded shares of Roku from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $70.00 to $90.00 in a research note on Monday, November 18th. Bank of America lifted their target price on shares of Roku from $75.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Jefferies Financial Group dropped their price target on shares of Roku from $60.00 to $55.00 and set an “underperform” rating on the stock in a research note on Friday, November 1st. Finally, Macquarie reiterated an “outperform” rating and set a $90.00 price objective on shares of Roku in a report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $83.81.

Roku Trading Down 0.1 %

The firm has a market capitalization of $11.39 billion, a P/E ratio of -65.36 and a beta of 2.06. The company’s fifty day moving average is $75.28 and its 200-day moving average is $67.55.

Roku (NASDAQ:ROKU) last issued its quarterly 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. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.02 billion. Roku had a negative return on equity of 7.22% and a negative net margin of 4.42%. The firm’s revenue was up 16.5% compared to the same quarter last year. During the same period last year, the business posted ($2.33) earnings per share. On average, equities research analysts anticipate that Roku, Inc. will post -1.1 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ROKU. Raelipskie Partnership acquired a new stake in shares of Roku in the third quarter worth $32,000. EverSource Wealth Advisors LLC grew its position in Roku by 123.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company’s stock worth $40,000 after purchasing an additional 375 shares during the last quarter. Future Financial Wealth Managment LLC bought a new position in shares of Roku during the 3rd quarter worth about $43,000. GS Investments Inc. raised its position 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 buying an additional 147 shares during the last quarter. Finally, Cedar Wealth Management LLC bought a new stake in shares of Roku in the second quarter valued at about $48,000. 86.30% of the stock is owned by institutional investors.

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.