Roku (NASDAQ:ROKU) Trading Down 0.4% After Insider Selling

Roku, Inc. (NASDAQ:ROKU)’s share price traded down 0.4% during mid-day trading on Tuesday after an insider sold shares in the company. The stock traded as low as $75.68 and last traded at $76.39. 558,801 shares were traded during mid-day trading, a decline of 80% from the average session volume of 2,853,085 shares. The stock had previously closed at $76.66.

Specifically, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $79.77, for a total transaction of $1,994,250.00. Following the transaction, the chief executive officer now owns 26,538 shares of the company’s stock, valued at approximately $2,116,936.26. This trade represents a 48.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ROKU. Piper Sandler raised their price target on shares of Roku from $60.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price target on shares of Roku in a research note on Tuesday, January 7th. Wedbush reissued an “outperform” rating and issued a $100.00 price objective on shares of Roku in a research note on Wednesday, January 8th. Rosenblatt Securities lifted their price target on shares of Roku from $61.00 to $86.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, Baird R W raised shares of Roku from a “hold” rating to a “strong-buy” rating in a report on Monday, November 18th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $82.62.

Roku Trading Down 0.7 %

The company has a 50 day moving average of $76.45 and a 200 day moving average of $70.39. The firm has a market cap of $11.06 billion, a price-to-earnings ratio of -63.46 and a beta of 2.05.

Roku (NASDAQ:ROKU) last posted its earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.29. Roku had a negative net margin of 4.42% and a negative return on equity of 7.22%. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the prior year, the firm earned ($2.33) EPS. The firm’s quarterly revenue was up 16.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Roku, Inc. will post -1.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Raelipskie Partnership bought a new position in Roku in the 3rd quarter valued at $32,000. EverSource Wealth Advisors LLC lifted its position in Roku by 123.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company’s stock worth $40,000 after buying an additional 375 shares in the last quarter. Future Financial Wealth Managment LLC bought a new stake in Roku during the 3rd quarter worth about $43,000. GS Investments Inc. raised its stake in shares of Roku by 33.4% in the third quarter. GS Investments Inc. now owns 587 shares of the company’s stock worth $44,000 after acquiring an additional 147 shares during the last quarter. Finally, Cedar Wealth Management LLC acquired a new position in shares of Roku during the second quarter worth approximately $48,000. 86.30% of the stock is owned by institutional investors and hedge funds.

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.