Roku (NASDAQ:ROKU) Trading Down 0.2% After Insider Selling

Shares of Roku, Inc. (NASDAQ:ROKU) traded down 0.2% during mid-day trading on Wednesday following insider selling activity. The stock traded as low as $82.21 and last traded at $83.24. 318,332 shares traded hands during trading, a decline of 93% from the average session volume of 4,368,117 shares. The stock had previously closed at $83.39.

Specifically, CFO Dan Jedda sold 1,000 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $82.73, for a total value of $82,730.00. Following the sale, the chief financial officer now directly owns 64,555 shares in the company, valued at $5,340,635.15. This trade represents a 1.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $82.64, for a total transaction of $2,066,000.00. Following the transaction, the chief executive officer now owns 26,538 shares of the company’s stock, valued at approximately $2,193,100.32. This represents a 48.51 % decrease in their position. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Guggenheim raised shares of Roku from a “neutral” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Friday, August 23rd. Citigroup boosted their target price on Roku from $60.00 to $77.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Wedbush reaffirmed an “outperform” rating and set a $100.00 price target (up previously from $85.00) on shares of Roku in a research report on Friday, December 6th. Wells Fargo & Company lifted their price objective on Roku from $72.00 to $74.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Finally, Needham & Company LLC reissued a “buy” rating and set a $100.00 target price on shares of Roku in a research note on Wednesday, December 4th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $83.81.

Roku Stock Performance

The firm has a market cap of $11.40 billion, a price-to-earnings ratio of -65.41 and a beta of 2.06. The firm has a fifty day simple moving average of $75.24 and a 200-day simple moving average of $67.40.

Roku (NASDAQ:ROKU) last posted its earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.29. Roku had a negative net margin of 4.42% and a negative return on equity of 7.22%. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter last year, the company posted ($2.33) EPS. Roku’s quarterly revenue was up 16.5% compared to the same quarter last year. Analysts expect that Roku, Inc. will post -1.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Roku

Institutional investors and hedge funds have recently made changes to their positions in the company. Raelipskie Partnership bought a new stake in Roku in the 3rd quarter valued at $32,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Roku by 123.4% during the second quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company’s stock worth $40,000 after buying an additional 375 shares in the last quarter. Future Financial Wealth Managment LLC bought a new stake in shares of Roku in the third quarter valued at about $43,000. GS Investments Inc. grew its stake in shares of Roku by 33.4% in the third quarter. GS Investments Inc. now owns 587 shares of the company’s stock valued at $44,000 after acquiring an additional 147 shares in the last quarter. Finally, Cedar Wealth Management LLC bought a new position in Roku during the second quarter worth about $48,000. 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.