Roku (NASDAQ:ROKU) Shares Down 1.2% on Insider Selling

Roku, Inc. (NASDAQ:ROKU)’s stock price dropped 1.2% on Thursday after an insider sold shares in the company. The company traded as low as $81.87 and last traded at $84.09. Approximately 916,759 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 3,638,659 shares. The stock had previously closed at $85.07.

Specifically, insider Charles Collier sold 7,181 shares of the business’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $78.25, for a total transaction of $561,913.25. Following the sale, the insider now directly owns 7,380 shares of the company’s stock, valued at $577,485. The trade was a 49.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Matthew C. Banks sold 1,906 shares of Roku stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $80.36, for a total value of $153,166.16. Following the completion of the transaction, the chief accounting officer now directly owns 7,256 shares in the company, valued at $583,092.16. This represents a 20.80 % decrease in their position. The disclosure for this sale can be found here.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Benchmark upped their price target on shares of Roku from $100.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Bank of America increased their price objective on Roku from $90.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Wedbush reiterated an “outperform” rating and issued a $100.00 target price on shares of Roku in a report on Monday, February 10th. Loop Capital boosted their price objective on shares of Roku from $70.00 to $80.00 and gave the company a “hold” rating in a research report on Monday, December 9th. Finally, Pivotal Research upgraded shares of Roku from a “hold” rating to a “buy” rating and increased their target price for the stock from $65.00 to $125.00 in a research report on Friday, February 14th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Roku has a consensus rating of “Moderate Buy” and a consensus price target of $96.71.

Roku Trading Down 6.4 %

The firm has a market cap of $11.62 billion, a P/E ratio of -89.44 and a beta of 2.12. The company’s fifty day moving average price is $82.30 and its two-hundred day moving average price is $76.72.

Roku (NASDAQ:ROKU) last issued its quarterly earnings data on Thursday, February 13th. The company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.20. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.15 billion. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. On average, analysts predict that Roku, Inc. will post -0.3 EPS for the current fiscal year.

Hedge Funds Weigh In On Roku

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. increased its position in shares of Roku by 369.9% in the 4th quarter. Geneos Wealth Management Inc. now owns 343 shares of the company’s stock valued at $25,000 after buying an additional 270 shares in the last quarter. Vision Financial Markets LLC bought a new position in Roku in the fourth quarter valued at approximately $30,000. Raelipskie Partnership bought a new stake in shares of Roku during the third quarter worth $32,000. Game Plan Financial Advisors LLC acquired a new stake in shares of Roku during the fourth quarter worth $37,000. Finally, Harvest Fund Management Co. Ltd lifted its position in Roku by 4,091.7% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 503 shares of the company’s stock valued at $37,000 after acquiring an additional 491 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.