Roku (NASDAQ:ROKU) Shares Down 1.8% After Insider Selling

Roku, Inc. (NASDAQ:ROKU) traded down 1.8% on Wednesday after an insider sold shares in the company. The company traded as low as $93.16 and last traded at $94.09. 756,970 shares were traded during mid-day trading, a decline of 79% from the average session volume of 3,685,883 shares. The stock had previously closed at $95.80.

Specifically, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $100.40, for a total transaction of $2,510,000.00. Following the sale, the chief executive officer now directly owns 26,538 shares of the company’s stock, valued at approximately $2,664,415.20. This represents a 48.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Dan Jedda sold 2,000 shares of Roku stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $99.95, for a total value of $199,900.00. Following the sale, the chief financial officer now directly owns 56,555 shares in the company, valued at $5,652,672.25. The trade was a 3.42 % decrease in their position. The disclosure for this sale can be found here. In other news, CFO Dan Jedda sold 5,000 shares of Roku stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $100.40, for a total value of $502,000.00. Following the transaction, the chief financial officer now owns 58,555 shares of the company’s stock, valued at $5,878,922. The trade was a 7.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Bank of America lifted their price target on shares of Roku from $90.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Morgan Stanley lifted their target price on Roku from $60.00 to $65.00 and gave the stock an “underweight” rating in a report on Tuesday, October 29th. Moffett Nathanson downgraded Roku from a “neutral” rating to a “sell” rating and set a $55.00 target price for the company. in a report on Friday, January 10th. JPMorgan Chase & Co. increased their price target on Roku from $92.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Finally, Benchmark upped their price objective on shares of Roku from $100.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Roku presently has a consensus rating of “Moderate Buy” and a consensus target price of $92.62.

Roku Trading Down 1.7 %

The stock has a market cap of $13.68 billion, a P/E ratio of -105.72 and a beta of 2.05. The business’s fifty day simple moving average is $80.86 and its 200 day simple moving average is $74.18.

Roku (NASDAQ:ROKU) last issued its quarterly earnings results on Thursday, February 13th. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.44) by $0.20. Roku had a negative return on equity of 5.39% and a negative net margin of 3.15%. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.15 billion. On average, analysts predict that Roku, Inc. will post -0.8 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Roku

Institutional investors and hedge funds have recently made changes to their positions in the company. Farther Finance Advisors LLC boosted its stake in Roku by 23.9% in the 4th quarter. Farther Finance Advisors LLC now owns 627 shares of the company’s stock valued at $47,000 after purchasing an additional 121 shares during the period. Cerity Partners LLC lifted its holdings in shares of Roku by 0.5% during the fourth quarter. Cerity Partners LLC now owns 26,679 shares of the company’s stock worth $1,984,000 after buying an additional 145 shares in the last quarter. GS Investments Inc. boosted its position in shares of Roku by 33.4% in the third quarter. GS Investments Inc. now owns 587 shares of the company’s stock valued at $44,000 after acquiring an additional 147 shares during the period. PFG Investments LLC grew its stake in shares of Roku by 3.7% in the third quarter. PFG Investments LLC now owns 4,157 shares of the company’s stock valued at $310,000 after acquiring an additional 150 shares in the last quarter. Finally, True Vision MN LLC increased its position in Roku by 3.1% during the third quarter. True Vision MN LLC now owns 5,018 shares of the company’s stock worth $375,000 after acquiring an additional 152 shares during the period. 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.