Roku (NASDAQ:ROKU) Shares Down 1.6% on Insider Selling

Roku, Inc. (NASDAQ:ROKU) shares traded down 1.6% on Wednesday after an insider sold shares in the company. The stock traded as low as $77.21 and last traded at $77.69. 699,602 shares changed hands during trading, a decline of 84% from the average session volume of 4,400,586 shares. The stock had previously closed at $78.93.

Specifically, CFO Dan Jedda sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $76.25, for a total value of $76,250.00. Following the completion of the transaction, the chief financial officer now owns 53,267 shares of the company’s stock, valued at $4,061,608.75. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of the company’s stock in a transaction that occurred on 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 owns 5,020 shares of the company’s stock, valued at $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

A number of analysts have weighed in on ROKU shares. Benchmark reissued a “buy” rating and set a $105.00 price objective on shares of Roku in a report on Thursday, September 12th. Citigroup upped their price objective on shares of Roku from $60.00 to $77.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. JPMorgan Chase & Co. boosted their target price on Roku from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Macquarie upped their target price on Roku from $72.00 to $90.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. Finally, Wells Fargo & Company raised Roku from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $50.00 to $72.00 in a research report on Thursday, September 5th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $81.24.

Roku Trading Up 4.1 %

The stock’s 50 day moving average price is $70.03 and its two-hundred day moving average price is $62.72. The firm has a market capitalization of $11.59 billion, a PE ratio of -22.90 and a beta of 2.08.

Roku (NASDAQ:ROKU) last released its earnings results on Thursday, August 1st. The company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.21. The company had revenue of $968.18 million for the quarter, compared to analyst estimates of $937.78 million. Roku had a negative net margin of 13.16% and a negative return on equity of 21.03%. The firm’s quarterly revenue was up 14.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.76) EPS. Analysts expect that Roku, Inc. will post -1.44 earnings per share for the current year.

Institutional Investors Weigh In On Roku

Several hedge funds have recently modified their holdings of ROKU. Mcdonald Partners LLC increased its stake in Roku by 0.9% during the second quarter. Mcdonald Partners LLC now owns 19,608 shares of the company’s stock worth $1,175,000 after acquiring an additional 175 shares during the last quarter. Benjamin Edwards Inc. increased its position in Roku by 43.5% during the 1st quarter. Benjamin Edwards Inc. now owns 617 shares of the company’s stock worth $40,000 after purchasing an additional 187 shares in the last quarter. Beacon Capital Management LLC raised its holdings in 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 buying an additional 233 shares during the period. Arizona State Retirement System lifted its position 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 buying an additional 251 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its stake in Roku by 6.4% during the second quarter. Sequoia Financial Advisors LLC now owns 4,519 shares of the company’s stock worth $271,000 after buying an additional 270 shares during the period. 86.30% of the stock is owned by institutional investors and hedge funds.

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.