Roku (NASDAQ:ROKU) Trading Down 1.2% Following Insider Selling

Roku, Inc. (NASDAQ:ROKU) shares traded down 1.2% during mid-day trading on Friday following insider selling activity. The stock traded as low as $103.27 and last traded at $103.66. 2,061,289 shares traded hands during mid-day trading, a decline of 33% from the average session volume of 3,084,353 shares. The stock had previously closed at $104.97.

Specifically, CFO Dan Jedda sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $107.56, for a total transaction of $322,680.00. Following the completion of the sale, the chief financial officer owned 87,267 shares in the company, valued at $9,386,438.52. This trade represents a 3.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Anthony J. Wood sold 75,000 shares of the company’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. Additional details regarding this sale are available in the official SEC disclosure.

Analyst Ratings Changes

A number of analysts have recently weighed in on ROKU shares. Piper Sandler raised shares of Roku from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $88.00 to $135.00 in a research report on Monday, November 3rd. Wall Street Zen raised shares of Roku from a “hold” rating to a “buy” rating in a report on Sunday, December 7th. Benchmark reissued a “buy” rating on shares of Roku in a research report on Monday, October 27th. Evercore ISI restated a “positive” rating on shares of Roku in a research note on Friday, October 31st. Finally, UBS Group lifted their price target on Roku from $95.00 to $103.00 and gave the stock a “neutral” rating in a research note on Monday, November 3rd. Twenty-three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $119.32.

Roku Trading Down 1.2%

The firm has a market cap of $15.32 billion, a P/E ratio of -518.27 and a beta of 1.95. The business’s 50-day moving average is $104.31 and its two-hundred day moving average is $97.82.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ROKU. Blue Trust Inc. grew its stake in Roku by 680.0% during the 4th quarter. Blue Trust Inc. now owns 234 shares of the company’s stock worth $25,000 after buying an additional 204 shares during the last quarter. Aventura Private Wealth LLC acquired a new position in shares of Roku during the fourth quarter valued at $26,000. Westfuller Advisors LLC acquired a new position in shares of Roku during the third quarter valued at $30,000. Root Financial Partners LLC bought a new position in shares of Roku during the third quarter worth about $33,000. Finally, Cornerstone Planning Group LLC increased its holdings in shares of Roku by 20,450.0% in the 3rd quarter. Cornerstone Planning Group LLC now owns 411 shares of the company’s stock worth $41,000 after acquiring an additional 409 shares during the period. Institutional investors and hedge funds 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.