Roku (NASDAQ:ROKU) Stock Price Down 2.7% on Insider Selling

Roku, Inc. (NASDAQ:ROKU) fell 2.7% during mid-day trading on Wednesday following insider selling activity. The stock traded as low as $105.20 and last traded at $107.55. 3,093,159 shares were traded during mid-day trading, a decline of 1% from the average session volume of 3,121,596 shares. The stock had previously closed at $110.51.

Specifically, CEO Anthony J. Wood sold 75,000 shares of the firm’s stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $109.61, for a total value of $8,220,750.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Analyst Ratings Changes

Several research analysts recently commented on ROKU shares. Rosenblatt Securities boosted their target price on Roku from $101.00 to $106.00 and gave the stock a “neutral” rating in a research note on Friday, October 31st. Wall Street Zen raised shares of Roku from a “hold” rating to a “buy” rating in a research report on Sunday, December 7th. Morgan Stanley set a $135.00 target price on shares of Roku and gave the company an “overweight” rating in a report on Tuesday, December 16th. Arete raised Roku from a “neutral” rating to a “buy” rating and set a $132.00 price target on the stock in a report on Monday, January 5th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Roku from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Friday, December 12th. Twenty-three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $119.32.

Roku Stock Performance

The company has a market capitalization of $15.51 billion, a PE ratio of -524.82 and a beta of 1.95. The stock’s fifty day simple moving average is $104.31 and its 200-day simple moving average is $97.82.

Roku (NASDAQ:ROKU) last issued its quarterly earnings results on Thursday, October 30th. The company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.09. Roku had a negative return on equity of 1.08% and a negative net margin of 0.61%.The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same quarter in the prior year, the company posted ($0.06) EPS. The business’s revenue for the quarter was up 14.0% compared to the same quarter last year. On average, equities analysts anticipate that Roku, Inc. will post -0.3 EPS for the current year.

Hedge Funds Weigh In On Roku

A number of large investors have recently bought and sold shares of ROKU. Aventura Private Wealth LLC acquired a new position in shares of Roku in the 4th quarter valued at about $26,000. Westfuller Advisors LLC acquired a new position in shares of Roku in the 3rd quarter valued at approximately $30,000. Root Financial Partners LLC bought a new position in Roku during the 3rd quarter valued at $33,000. Rakuten Securities Inc. grew its stake in Roku by 55.6% in the second quarter. Rakuten Securities Inc. now owns 442 shares of the company’s stock worth $39,000 after purchasing an additional 158 shares in the last quarter. Finally, JFS Wealth Advisors LLC increased its holdings in shares of Roku by 327.1% in the 2nd quarter. JFS Wealth Advisors LLC now owns 457 shares of the company’s stock valued at $40,000 after acquiring an additional 350 shares during the last quarter. Hedge funds and other institutional investors own 86.30% of the company’s stock.

About Roku

Roku, Inc (NASDAQ: ROKU) is a technology company that develops and operates a proprietary streaming platform designed to deliver entertainment content to consumers via internet-connected devices and smart televisions. Since its inception in 2002 in California, Roku has focused on simplifying access to streaming services for viewers worldwide. The company’s platform enables users to discover, access and manage a wide array of over-the-top content from major streaming services, free ad-supported channels and niche providers.

At the core of Roku’s product lineup are a range of streaming players and sticks, which connect to televisions via HDMI and deliver the Roku OS experience.