Roku (NASDAQ:ROKU) Trading Down 1.7% After Insider Selling

Roku, Inc. (NASDAQ:ROKU) shares traded down 1.7% during trading on Monday after an insider sold shares in the company. The company traded as low as $76.51 and last traded at $77.00. 545,517 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 4,414,283 shares. The stock had previously closed at $78.37.

Specifically, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 5,020 shares of the company’s stock, valued at approximately $387,544. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Guggenheim raised Roku from a “neutral” rating to a “buy” rating and set a $75.00 price target for the company in a research note on Friday, August 23rd. JPMorgan Chase & Co. raised their price target on Roku from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Robert W. Baird raised their price target on Roku from $56.00 to $75.00 and gave the stock a “neutral” rating in a research note on Monday, September 30th. Rosenblatt Securities decreased their price target on Roku from $89.00 to $61.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Finally, Wolfe Research upgraded Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 price objective on the stock in a report on Thursday, September 12th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $81.24.

Roku Trading Down 2.6 %

The stock has a 50-day simple moving average of $68.10 and a 200 day simple moving average of $62.34. The company has a market cap of $11.05 billion, a price-to-earnings ratio of -22.01 and a beta of 2.08.

Roku (NASDAQ:ROKU) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $968.18 million during the quarter, compared to analysts’ expectations of $937.78 million. During the same quarter in the previous year, the firm posted ($0.76) EPS. The firm’s revenue was up 14.3% compared to the same quarter last year. As a group, research analysts forecast that Roku, Inc. will post -1.44 EPS for the current fiscal year.

Institutional Trading of Roku

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ROKU. Sumitomo Mitsui Trust Holdings Inc. lifted its position in 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 acquiring an additional 1,457,925 shares during the period. Nikko Asset Management Americas Inc. lifted its holdings in shares of Roku by 25.8% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 7,091,891 shares of the company’s stock valued at $462,108,000 after buying an additional 1,455,408 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Roku by 3.3% in the 4th quarter. Vanguard Group Inc. now owns 11,853,947 shares of the company’s stock valued at $1,086,533,000 after buying an additional 380,409 shares during the period. Canada Pension Plan Investment Board lifted its holdings in shares of Roku by 138.1% in the 1st quarter. Canada Pension Plan Investment Board now owns 342,400 shares of the company’s stock valued at $22,314,000 after buying an additional 198,600 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in shares of Roku by 645.3% in the 2nd quarter. AQR Capital Management LLC now owns 221,557 shares of the company’s stock valued at $13,278,000 after buying an additional 191,831 shares during the period. Institutional investors and hedge funds 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.