Roku (NASDAQ:ROKU) Stock Price Down 0.3% After Insider Selling

Roku, Inc. (NASDAQ:ROKU)’s share price dropped 0.3% on Thursday following insider selling activity. The company traded as low as $75.39 and last traded at $76.28. Approximately 537,523 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 2,776,946 shares. The stock had previously closed at $76.53.

Specifically, CFO Dan Jedda sold 1,000 shares of the business’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $77.18, for a total value of $77,180.00. Following the completion of the transaction, the chief financial officer now owns 63,555 shares of the company’s stock, valued at approximately $4,905,174.90. The trade was a 1.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $79.77, for a total transaction of $1,994,250.00. Following the sale, the chief executive officer now directly owns 26,538 shares in the company, valued at $2,116,936.26. This represents a 48.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ROKU. Rosenblatt Securities upped their price objective on shares of Roku from $61.00 to $86.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. increased their price target on Roku from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Baird R W upgraded Roku from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 18th. Morgan Stanley raised their price target on Roku from $60.00 to $65.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 29th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price objective on shares of Roku in a research note on Tuesday, January 7th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $82.62.

Roku Stock Up 1.0 %

The business’s 50 day moving average price is $76.74 and its 200-day moving average price is $70.66. The company has a market cap of $11.02 billion, a PE ratio of -63.24 and a beta of 2.05.

Roku (NASDAQ:ROKU) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.35) by $0.29. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.02 billion. Roku had a negative net margin of 4.42% and a negative return on equity of 7.22%. The firm’s quarterly revenue was up 16.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($2.33) EPS. Equities analysts expect that Roku, Inc. will post -1.09 earnings per share for the current year.

Institutional Investors Weigh In On Roku

A number of hedge funds have recently bought and sold shares of ROKU. Holocene Advisors LP purchased a new position in shares of Roku during the 3rd quarter valued at approximately $129,015,000. Westfield Capital Management Co. LP grew its holdings in Roku by 126.1% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,535,576 shares of the company’s stock worth $114,646,000 after acquiring an additional 856,401 shares in the last quarter. Point72 Asset Management L.P. increased its position in shares of Roku by 352.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 651,658 shares of the company’s stock worth $48,653,000 after purchasing an additional 507,643 shares during the last quarter. JAT Capital Mgmt LP raised its stake in shares of Roku by 470.2% in the 3rd quarter. JAT Capital Mgmt LP now owns 540,577 shares of the company’s stock valued at $40,359,000 after purchasing an additional 445,777 shares in the last quarter. Finally, FMR LLC lifted its position in shares of Roku by 1.7% during the third quarter. FMR LLC now owns 14,570,372 shares of the company’s stock worth $1,087,824,000 after purchasing an additional 244,793 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.