Roku (NASDAQ:ROKU) Hits New 1-Year Low Following Insider Selling

Roku, Inc. (NASDAQ:ROKU)’s share price reached a new 52-week low during mid-day trading on Wednesday after an insider sold shares in the company. The stock traded as low as $222.34 and last traded at $223.43, with a volume of 7765 shares changing hands. The stock had previously closed at $226.06.

Specifically, VP Scott A. Rosenberg sold 7,500 shares of the company’s stock in a transaction that occurred on Monday, November 22nd. The shares were sold at an average price of $233.56, for a total transaction of $1,751,700.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Anthony J. Wood sold 85,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 1st. The shares were sold at an average price of $368.40, for a total transaction of $31,314,000.00. Following the completion of the transaction, the chief executive officer now owns 45,000 shares of the company’s stock, valued at $16,578,000. The disclosure for this sale can be found here. Insiders sold a total of 516,992 shares of company stock valued at $164,283,240 in the last three months. Insiders own 15.32% of the company’s stock.

Several equities analysts have issued reports on the stock. Wells Fargo & Company decreased their price target on shares of Roku from $350.00 to $305.00 and set an “equal weight” rating for the company in a research report on Thursday, November 4th. Susquehanna Bancshares reduced their price objective on shares of Roku from $530.00 to $380.00 and set a “positive” rating on the stock in a research note on Thursday, November 4th. Moffett Nathanson reaffirmed a “sell” rating and issued a $220.00 price objective (down from $330.00) on shares of Roku in a research note on Wednesday, November 17th. Cleveland Research began coverage on shares of Roku in a research note on Thursday, September 30th. They issued a “buy” rating and a $389.00 price objective on the stock. Finally, KeyCorp reduced their price objective on shares of Roku from $490.00 to $460.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 2nd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $411.64.

The stock has a market capitalization of $31.10 billion, a P/E ratio of 114.02, a price-to-earnings-growth ratio of 3.55 and a beta of 1.69. The business’s 50 day simple moving average is $300.93 and its two-hundred day simple moving average is $348.79. The company has a quick ratio of 4.32, a current ratio of 4.43 and a debt-to-equity ratio of 0.03.

Roku (NASDAQ:ROKU) last released its quarterly earnings data on Wednesday, November 3rd. The company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.42. Roku had a net margin of 11.22% and a return on equity of 12.69%. During the same period last year, the business earned $0.09 EPS. Analysts predict that Roku, Inc. will post 1.56 earnings per share for the current year.

Institutional investors have recently added to or reduced their stakes in the business. New York State Common Retirement Fund lifted its stake in shares of Roku by 6.9% in the second quarter. New York State Common Retirement Fund now owns 136,077 shares of the company’s stock valued at $62,493,000 after buying an additional 8,777 shares in the last quarter. CX Institutional purchased a new stake in shares of Roku in the second quarter valued at about $2,036,000. IVC Wealth Advisors LLC purchased a new stake in shares of Roku in the second quarter valued at about $312,000. Sassicaia Capital Advisers LLC raised its holdings in shares of Roku by 449.1% in the second quarter. Sassicaia Capital Advisers LLC now owns 71,650 shares of the company’s stock valued at $32,905,000 after purchasing an additional 58,601 shares during the last quarter. Finally, Cumberland Partners Ltd raised its holdings in shares of Roku by 22.5% in the second quarter. Cumberland Partners Ltd now owns 6,125 shares of the company’s stock valued at $2,813,000 after purchasing an additional 1,125 shares during the last quarter. 62.12% of the stock is currently owned by hedge funds and other institutional investors.

About Roku (NASDAQ:ROKU)

Roku, Inc engages in the provision of a streaming platform for television. It operates through the following business segments: Player and Platform. The Player segment consists of net sales of streaming media players and accessories through retailers and distributors, as well as directly to customers through the company’s website.

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