Insider Selling: Roku, Inc. (NASDAQ:ROKU) CEO Sells 25,000 Shares of Stock

Roku, Inc. (NASDAQ:ROKU) CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $82.64, for a total transaction of $2,066,000.00. Following the transaction, the chief executive officer now directly owns 26,538 shares in the company, valued at $2,193,100.32. This represents a 48.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Roku Price Performance

NASDAQ:ROKU opened at $82.99 on Friday. Roku, Inc. has a one year low of $48.33 and a one year high of $108.84. The company has a market cap of $12.05 billion, a PE ratio of -69.16 and a beta of 2.06. The firm’s 50 day simple moving average is $75.00 and its 200 day simple moving average is $66.89.

Roku (NASDAQ:ROKU) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter last year, the firm earned ($2.33) earnings per share. The company’s revenue for the quarter was up 16.5% on a year-over-year basis. Equities research analysts expect that Roku, Inc. will post -1.1 EPS for the current year.

Institutional Inflows and Outflows

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

Analysts Set New Price Targets

ROKU has been the subject of several analyst reports. UBS Group began coverage on Roku in a report on Friday, November 22nd. They issued a “neutral” rating and a $73.00 price objective for the company. Robert W. Baird raised Roku from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $70.00 to $90.00 in a research note on Monday, November 18th. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price objective on shares of Roku in a research note on Wednesday, December 4th. Piper Sandler raised their target price on shares of Roku from $60.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, Citigroup upped their price target on shares of Roku from $60.00 to $77.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $83.81.

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.