Roku (NASDAQ:ROKU) Trading Down 1.5% on Insider Selling

Roku, Inc. (NASDAQ:ROKU) fell 1.5% on Friday after an insider sold shares in the company. The company traded as low as $76.09 and last traded at $76.26. 655,810 shares changed hands during trading, a decline of 86% from the average session volume of 4,568,213 shares. The stock had previously closed at $77.45.

Specifically, CFO Dan Jedda sold 1,000 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $75.33, for a total value of $75,330.00. Following the completion of the transaction, the chief financial officer now owns 54,267 shares in the company, valued at $4,087,933.11. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Analysts Set New Price Targets

ROKU has been the topic of a number of recent research reports. Rosenblatt Securities reduced their target price on shares of Roku from $89.00 to $61.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Benchmark reaffirmed a “buy” rating and set a $105.00 target price on shares of Roku in a research note on Thursday, September 12th. JPMorgan Chase & Co. boosted their price target on Roku from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price objective on shares of Roku in a research report on Friday, September 13th. Finally, Wells Fargo & Company upgraded Roku from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $50.00 to $72.00 in a research note on Thursday, September 5th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Roku has a consensus rating of “Hold” and a consensus price target of $78.75.

Roku Trading Down 1.5 %

The firm has a market capitalization of $11.03 billion, a P/E ratio of -19.11 and a beta of 2.06. The stock has a 50 day simple moving average of $63.03 and a 200-day simple moving average of $61.07.

Roku (NASDAQ:ROKU) last announced its earnings results on Thursday, August 1st. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.21. Roku had a negative net margin of 13.16% and a negative return on equity of 21.03%. The company had revenue of $968.18 million during the quarter, compared to analyst estimates of $937.78 million. During the same period in the previous year, the business posted ($0.76) earnings per share. The firm’s quarterly revenue was up 14.3% compared to the same quarter last year. As a group, sell-side analysts expect that Roku, Inc. will post -1.45 earnings per share for the current fiscal year.

Institutional Trading of Roku

A number of hedge funds and other institutional investors have recently bought and sold shares of ROKU. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Roku in the second quarter worth $1,378,000. Granite Bay Wealth Management LLC bought a new stake in Roku during the second quarter valued at about $1,142,000. Quarry LP lifted its position in shares of Roku by 127.9% in the second quarter. Quarry LP now owns 1,682 shares of the company’s stock valued at $101,000 after acquiring an additional 944 shares in the last quarter. Algert Global LLC boosted its stake in shares of Roku by 144.4% in the second quarter. Algert Global LLC now owns 55,177 shares of the company’s stock worth $3,307,000 after acquiring an additional 32,603 shares during the period. Finally, Empirical Capital Management LLC grew its position in shares of Roku by 10.0% during the second quarter. Empirical Capital Management LLC now owns 177,000 shares of the company’s stock worth $10,608,000 after purchasing an additional 16,031 shares in the last quarter. Hedge funds and other 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.