Roku (NASDAQ:ROKU) Trading Down 0.3% Following Insider Selling

Shares of Roku, Inc. (NASDAQ:ROKU) were down 0.3% during mid-day trading on Thursday following insider selling activity. The stock traded as low as $75.39 and last traded at $76.28. Approximately 537,523 shares were traded during 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 Roku stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $77.18, for a total value of $77,180.00. Following 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 26,538 shares in the company, valued at approximately $2,116,936.26. This represents a 48.51 % decrease in their position. The disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Loop Capital upped their price objective on shares of Roku from $70.00 to $80.00 and gave the company a “hold” rating in a report on Monday, December 9th. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Roku in a research note on Tuesday, January 7th. Morgan Stanley increased their target price on shares of Roku from $60.00 to $65.00 and gave the company an “underweight” rating in a research report on Tuesday, October 29th. Jefferies Financial Group reduced their price objective on shares of Roku from $60.00 to $55.00 and set an “underperform” rating for the company in a research report on Friday, November 1st. Finally, Wells Fargo & Company increased their target price on Roku from $72.00 to $74.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $82.62.

Roku Price Performance

The business’s 50-day simple moving average is $76.74 and its two-hundred day simple moving average is $70.66. The stock has a market capitalization of $11.02 billion, a price-to-earnings ratio of -63.24 and a beta of 2.05.

Roku (NASDAQ:ROKU) last released its earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.29. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates 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 revenue for the quarter was up 16.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($2.33) earnings per share. As a group, sell-side analysts expect that Roku, Inc. will post -1.09 EPS for the current year.

Hedge Funds Weigh In On Roku

A number of large investors have recently made changes to their positions in the business. American Century Companies Inc. lifted its position in Roku by 3.5% in the second quarter. American Century Companies Inc. now owns 25,847 shares of the company’s stock worth $1,549,000 after purchasing an additional 877 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in Roku by 6.6% in the second quarter. DekaBank Deutsche Girozentrale now owns 16,430 shares of the company’s stock valued at $982,000 after acquiring an additional 1,022 shares during the last quarter. Federated Hermes Inc. boosted its holdings in Roku by 32.6% in the second quarter. Federated Hermes Inc. now owns 1,695 shares of the company’s stock valued at $102,000 after acquiring an additional 417 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in Roku by 20.7% in the second quarter. Envestnet Asset Management Inc. now owns 110,616 shares of the company’s stock valued at $6,629,000 after acquiring an additional 19,002 shares during the last quarter. Finally, Edgestream Partners L.P. boosted its holdings in Roku by 133.9% during the second quarter. Edgestream Partners L.P. now owns 18,639 shares of the company’s stock worth $1,117,000 after buying an additional 10,670 shares during the last quarter. Institutional investors and hedge funds own 86.30% of the company’s stock.

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.