Roku (NASDAQ:ROKU) Shares Down 0.4% After Insider Selling

Roku, Inc. (NASDAQ:ROKU) dropped 0.4% during trading on Tuesday after an insider sold shares in the company. The stock traded as low as $75.68 and last traded at $76.39. Approximately 558,801 shares changed hands during trading, a decline of 80% from the average daily volume of 2,853,085 shares. The stock had previously closed at $76.66.

Specifically, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $79.77, for a total transaction of $1,994,250.00. Following the sale, the chief executive officer now directly owns 26,538 shares of the company’s stock, valued at $2,116,936.26. The trade was a 48.51 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ROKU shares. Baird R W upgraded Roku from a “hold” rating to a “strong-buy” rating in a report on Monday, November 18th. Wedbush reiterated an “outperform” rating and issued a $100.00 price objective on shares of Roku in a research note on Wednesday, January 8th. Piper Sandler upped their target price on Roku from $60.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Moffett Nathanson downgraded shares of Roku from a “neutral” rating to a “sell” rating and set a $55.00 price target for the company. in a report on Friday, January 10th. Finally, JPMorgan Chase & Co. raised their price objective on Roku from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Three analysts have rated the stock with a sell rating, eight have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $82.62.

Roku Price Performance

The firm has a market capitalization of $10.86 billion, a P/E ratio of -62.33 and a beta of 2.05. The stock has a fifty day simple moving average of $76.55 and a two-hundred day simple moving average of $70.49.

Roku (NASDAQ:ROKU) last posted 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. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. Roku had a negative net margin of 4.42% and a negative return on equity of 7.22%. Roku’s revenue was up 16.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($2.33) EPS. As a group, sell-side analysts expect that Roku, Inc. will post -1.1 EPS for the current fiscal year.

Institutional Investors Weigh In On Roku

A number of institutional investors have recently added to or reduced their stakes in ROKU. Choreo LLC purchased a new stake in shares of Roku during the 2nd quarter worth approximately $324,000. American Century Companies Inc. boosted its position in shares of Roku by 3.5% during the 2nd quarter. American Century Companies Inc. now owns 25,847 shares of the company’s stock valued at $1,549,000 after acquiring an additional 877 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its position in Roku by 6.6% during the second quarter. DekaBank Deutsche Girozentrale now owns 16,430 shares of the company’s stock valued at $982,000 after purchasing an additional 1,022 shares during the last quarter. Federated Hermes Inc. grew its position in Roku by 32.6% in the second quarter. Federated Hermes Inc. now owns 1,695 shares of the company’s stock worth $102,000 after acquiring an additional 417 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Roku by 20.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 110,616 shares of the company’s stock worth $6,629,000 after purchasing an additional 19,002 shares in the last quarter. 86.30% of the stock is owned by institutional investors.

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.