Roku (NASDAQ:ROKU) Stock Price Down 3.9% on Insider Selling

Roku, Inc. (NASDAQ:ROKU)’s stock price dropped 3.9% on Wednesday after an insider sold shares in the company. The stock traded as low as $119.49 and last traded at $122.20. Approximately 2,355,785 shares changed hands during mid-day trading, a decline of 23% from the average daily volume of 3,062,911 shares. The stock had previously closed at $127.12.

Specifically, SVP Christopher T. Handman sold 2,999 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $127.26, for a total value of $381,652.74. Following the completion of the sale, the senior vice president directly owned 5,998 shares in the company, valued at approximately $763,305.48. The trade was a 33.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Matthew C. Banks sold 546 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $127.26, for a total value of $69,483.96. Following the completion of the sale, the chief accounting officer owned 7,725 shares of the company’s stock, valued at $983,083.50. The trade was a 6.60% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In other news, Director Neil D. Hunt sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $129.09, for a total transaction of $258,180.00. Following the transaction, the director directly owned 7,782 shares of the company’s stock, valued at approximately $1,004,578.38. The trade was a 20.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wall Street Analyst Weigh In

ROKU has been the topic of several recent analyst reports. UBS Group set a $170.00 price objective on shares of Roku in a research report on Thursday, May 28th. Guggenheim raised their target price on Roku from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Wedbush boosted their price objective on shares of Roku from $140.00 to $155.00 and gave the company an “outperform” rating in a research report on Friday, May 1st. Jefferies Financial Group upped their price target on shares of Roku from $135.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, April 13th. Finally, KeyCorp upped their price target on shares of Roku from $140.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Twenty-two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $145.29.

Roku Stock Down 2.7%

The stock has a 50 day moving average price of $114.77 and a two-hundred day moving average price of $105.03. The firm has a market cap of $18.02 billion, a PE ratio of 91.93 and a beta of 2.06.

Roku (NASDAQ:ROKU) last posted its quarterly earnings results on Thursday, April 30th. The company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.23. Roku had a return on equity of 7.64% and a net margin of 4.06%.The business had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the previous year, the business earned ($0.19) EPS. The company’s quarterly revenue was up 22.4% compared to the same quarter last year. As a group, equities analysts anticipate that Roku, Inc. will post 2.41 earnings per share for the current year.

Hedge Funds Weigh In On Roku

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Blue Trust Inc. raised its stake in Roku by 680.0% during the fourth quarter. Blue Trust Inc. now owns 234 shares of the company’s stock worth $25,000 after purchasing an additional 204 shares during the period. Aventura Private Wealth LLC purchased a new position in shares of Roku in the 4th quarter valued at about $26,000. Bayban grew its stake in Roku by 1,300.0% during the 1st quarter. Bayban now owns 280 shares of the company’s stock worth $26,000 after buying an additional 260 shares during the last quarter. WPG Advisers LLC purchased a new position in Roku during the 4th quarter worth approximately $31,000. Finally, Safe Harbor Fiduciary LLC acquired a new stake in shares of Roku during the fourth quarter worth $31,000. Hedge funds and other institutional investors own 86.30% of the company’s stock.

Roku Company Profile

Roku, Inc (NASDAQ: ROKU) is a technology company that develops and operates a proprietary streaming platform designed to deliver entertainment content to consumers via internet-connected devices and smart televisions. Since its inception in 2002 in California, Roku has focused on simplifying access to streaming services for viewers worldwide. The company’s platform enables users to discover, access and manage a wide array of over-the-top content from major streaming services, free ad-supported channels and niche providers.

At the core of Roku’s product lineup are a range of streaming players and sticks, which connect to televisions via HDMI and deliver the Roku OS experience.