Roku (NASDAQ:ROKU) Trading Down 2.4% on Insider Selling

Roku, Inc. (NASDAQ:ROKU)’s share price traded down 2.4% on Thursday after an insider sold shares in the company. The company traded as low as $103.93 and last traded at $104.97. 3,106,797 shares changed hands during mid-day trading, a decline of 2% from the average session volume of 3,180,741 shares. The stock had previously closed at $107.55.

Specifically, CFO Dan Jedda sold 3,000 shares of the business’s stock in a transaction on Thursday, January 15th. The shares were sold at an average price of $107.56, for a total transaction of $322,680.00. Following the completion of the transaction, the chief financial officer owned 87,267 shares in the company, valued at approximately $9,386,438.52. The trade was a 3.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Anthony J. Wood sold 75,000 shares of the stock in a transaction 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 SEC filing for this sale provides additional information.

Analysts Set New Price Targets

Several research firms have recently issued reports on ROKU. Morgan Stanley set a $135.00 price objective on Roku and gave the stock an “overweight” rating in a research report on Tuesday, December 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of Roku in a research report on Wednesday, October 8th. Wells Fargo & Company restated an “overweight” rating on shares of Roku in a research note on Monday, January 5th. JMP Securities reiterated a “market outperform” rating and issued a $145.00 price target on shares of Roku in a research note on Thursday, October 2nd. Finally, Evercore ISI reissued a “positive” rating on shares of Roku in a report on Friday, October 31st. Twenty-three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $119.32.

Roku Price Performance

The firm’s 50 day moving average price is $104.34 and its two-hundred day moving average price is $97.93. The firm has a market cap of $15.32 billion, a price-to-earnings ratio of -518.27 and a beta of 1.95.

Roku (NASDAQ:ROKU) last issued its quarterly earnings results on Thursday, October 30th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter in the previous year, the firm posted ($0.06) EPS. The firm’s revenue for the quarter was up 14.0% on a year-over-year basis. On average, analysts anticipate that Roku, Inc. will post -0.3 earnings per share for the current year.

Institutional Investors Weigh In On Roku

Hedge funds have recently modified their holdings of the stock. Empowered Funds LLC increased its stake in Roku by 18.6% in the 1st quarter. Empowered Funds LLC now owns 3,291 shares of the company’s stock valued at $232,000 after buying an additional 515 shares during the period. Focus Partners Wealth purchased a new stake in shares of Roku in the first quarter valued at about $229,000. Voya Investment Management LLC boosted its holdings in shares of Roku by 5.4% in the first quarter. Voya Investment Management LLC now owns 40,288 shares of the company’s stock valued at $2,838,000 after acquiring an additional 2,062 shares in the last quarter. Aaron Wealth Advisors LLC acquired a new position in shares of Roku during the second quarter worth about $259,000. Finally, Pallas Capital Advisors LLC increased its stake in shares of Roku by 69.1% during the second quarter. Pallas Capital Advisors LLC now owns 5,781 shares of the company’s stock worth $508,000 after acquiring an additional 2,363 shares during the period. 86.30% of the stock is owned by institutional investors and hedge funds.

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.