Roku (NASDAQ:ROKU) Shares Down 0.3% After Insider Selling

Roku, Inc. (NASDAQ:ROKU) traded down 0.3% on Tuesday following insider selling activity. The stock traded as low as $53.52 and last traded at $53.83. 604,665 shares traded hands during trading, a decline of 88% from the average session volume of 5,052,246 shares. The stock had previously closed at $53.97.

Specifically, insider Charles Collier sold 7,181 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $57.03, for a total transaction of $409,532.43. Following the transaction, the insider now directly owns 15,654 shares of the company’s stock, valued at $892,747.62. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Roku news, SVP Stephen H. Kay sold 3,322 shares of the stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $57.09, for a total value of $189,652.98. Following the transaction, the senior vice president now owns 82,036 shares of the company’s stock, valued at $4,683,435.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Charles Collier sold 7,181 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $57.03, for a total value of $409,532.43. Following the completion of the transaction, the insider now directly owns 15,654 shares in the company, valued at approximately $892,747.62. The disclosure for this sale can be found here. Insiders have sold a total of 23,898 shares of company stock valued at $1,347,966 over the last ninety days. 13.98% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on ROKU. Rosenblatt Securities reissued a “neutral” rating and issued a $89.00 target price on shares of Roku in a report on Friday, April 26th. Seaport Res Ptn raised Roku from a “neutral” rating to a “buy” rating in a report on Monday, April 29th. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Roku in a research note on Friday, May 17th. Benchmark decreased their price objective on Roku from $115.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, April 26th. Finally, Susquehanna decreased their price objective on Roku from $110.00 to $80.00 and set a “positive” rating on the stock in a research note on Monday, April 29th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $82.50.

Roku Stock Performance

The firm has a market capitalization of $7.57 billion, a PE ratio of -13.17 and a beta of 1.92. The company has a fifty day moving average price of $58.48 and a 200-day moving average price of $72.99.

Roku (NASDAQ:ROKU) last released its quarterly earnings results on Thursday, April 25th. The company reported ($0.35) earnings per share for the quarter, beating the consensus estimate of ($0.64) by $0.29. Roku had a negative return on equity of 23.81% and a negative net margin of 15.64%. The company had revenue of $881.50 million for the quarter, compared to analyst estimates of $843.54 million. During the same quarter in the prior year, the firm posted ($1.38) EPS. Roku’s quarterly revenue was up 19.0% compared to the same quarter last year. On average, equities analysts predict that Roku, Inc. will post -1.94 earnings per share for the current year.

Hedge Funds Weigh In On Roku

Several hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Roku by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 11,946,605 shares of the company’s stock valued at $778,560,000 after acquiring an additional 92,658 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Roku by 24.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,349,067 shares of the company’s stock worth $478,939,000 after buying an additional 1,457,925 shares in the last quarter. Nikko Asset Management Americas Inc. grew its position in shares of Roku by 25.8% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 7,091,891 shares of the company’s stock worth $462,108,000 after buying an additional 1,455,408 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Roku by 34.6% during the 3rd quarter. Wellington Management Group LLP now owns 2,543,081 shares of the company’s stock worth $179,516,000 after buying an additional 653,940 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Roku during the 4th quarter worth $90,386,000. Institutional investors 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.