Roku (NASDAQ:ROKU) Trading Down 1.6% After Insider Selling

Roku, Inc. (NASDAQ:ROKU)’s stock price dropped 1.6% during trading on Wednesday after an insider sold shares in the company. The company traded as low as $77.21 and last traded at $77.69. Approximately 699,602 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 4,400,586 shares. The stock had previously closed at $78.93.

Specifically, CFO Dan Jedda sold 1,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $76.25, for a total transaction of $76,250.00. Following the completion of the sale, the chief financial officer now directly owns 53,267 shares of the company’s stock, valued at approximately $4,061,608.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $77.20, for a total transaction of $1,930,000.00. Following the completion of the transaction, the chief executive officer now owns 5,020 shares in the company, valued at $387,544. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Wedbush reaffirmed an “outperform” rating and issued a $75.00 price target on shares of Roku in a research report on Friday, August 2nd. Guggenheim raised Roku from a “neutral” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Friday, August 23rd. Bank of America increased their price objective on Roku from $75.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Wolfe Research raised shares of Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 target price on the stock in a research report on Thursday, September 12th. Finally, JPMorgan Chase & Co. increased their price target on shares of Roku from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Roku presently has an average rating of “Hold” and a consensus price target of $81.24.

Roku Trading Up 4.1 %

The stock has a market capitalization of $11.59 billion, a P/E ratio of -22.90 and a beta of 2.08. The firm’s fifty day moving average is $70.03 and its 200-day moving average is $62.72.

Roku (NASDAQ:ROKU) last announced its earnings results on Thursday, August 1st. The company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.21. Roku had a negative return on equity of 21.03% and a negative net margin of 13.16%. The business had revenue of $968.18 million for the quarter, compared to the consensus estimate of $937.78 million. During the same period in the previous year, the business earned ($0.76) EPS. Roku’s revenue was up 14.3% compared to the same quarter last year. Equities research analysts expect that Roku, Inc. will post -1.44 EPS for the current year.

Institutional Trading of Roku

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in Roku by 3.3% during the 4th quarter. Vanguard Group Inc. now owns 11,853,947 shares of the company’s stock worth $1,086,533,000 after acquiring an additional 380,409 shares during the last quarter. Banque Cantonale Vaudoise grew its stake in shares of Roku by 145.5% during the first quarter. Banque Cantonale Vaudoise now owns 5,758 shares of the company’s stock valued at $375,000 after purchasing an additional 3,413 shares during the last quarter. Gateway Investment Advisers LLC acquired a new stake in shares of Roku in the first quarter valued at approximately $897,000. Counterpoint Mutual Funds LLC bought a new position in Roku in the 1st quarter worth approximately $275,000. Finally, SteelPeak Wealth LLC lifted its holdings in Roku by 77.9% during the 1st quarter. SteelPeak Wealth LLC now owns 9,159 shares of the company’s stock worth $597,000 after buying an additional 4,011 shares in the last quarter. Institutional investors own 86.30% of the company’s stock.

Roku Company Profile

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.