Roku (NASDAQ:ROKU) Trading Down 2.1% Following Insider Selling

Roku, Inc. (NASDAQ:ROKU) shares dropped 2.1% during trading on Tuesday following insider selling activity. The company traded as low as $96.84 and last traded at $97.01. Approximately 2,248,689 shares traded hands during mid-day trading, a decline of 38% from the average daily volume of 3,647,681 shares. The stock had previously closed at $99.07.

Specifically, CEO Anthony J. Wood sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $100.40, for a total transaction of $2,510,000.00. Following the completion of the transaction, the chief executive officer now owns 26,538 shares of the company’s stock, valued at approximately $2,664,415.20. This represents a 48.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Dan Jedda sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $99.95, for a total transaction of $199,900.00. Following the transaction, the chief financial officer now directly owns 56,555 shares of the company’s stock, valued at $5,652,672.25. This trade represents a 3.42 % decrease in their position. The disclosure for this sale can be found here. In other Roku news, CFO Dan Jedda sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $100.40, for a total transaction of $502,000.00. Following the completion of the sale, the chief financial officer now directly owns 58,555 shares in the company, valued at $5,878,922. The trade was a 7.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Analyst Ratings Changes

Several research firms have issued reports on ROKU. Citizens Jmp upgraded shares of Roku to a “strong-buy” rating in a research note on Tuesday, January 21st. Benchmark boosted their price objective on shares of Roku from $100.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday. Bank of America boosted their price objective on shares of Roku from $90.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday. Pivotal Research upgraded shares of Roku from a “hold” rating to a “buy” rating and upped their target price for the company from $65.00 to $125.00 in a research note on Friday. Finally, JPMorgan Chase & Co. upped their target price on shares of Roku from $92.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday. Three research analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Roku currently has an average rating of “Moderate Buy” and a consensus target price of $92.62.

Roku Trading Down 3.3 %

The stock has a market capitalization of $13.91 billion, a P/E ratio of -79.83 and a beta of 2.05. The stock’s 50 day simple moving average is $80.86 and its 200 day simple moving average is $74.18.

Roku (NASDAQ:ROKU) last issued its earnings results on Thursday, February 13th. The company reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.20. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Roku had a negative net margin of 4.42% and a negative return on equity of 7.22%. On average, sell-side analysts expect that Roku, Inc. will post -1.09 EPS for the current fiscal year.

Institutional Trading of Roku

Institutional investors and hedge funds have recently modified their holdings of the business. Geneos Wealth Management Inc. raised its holdings in shares of Roku by 369.9% during the fourth quarter. Geneos Wealth Management Inc. now owns 343 shares of the company’s stock worth $25,000 after purchasing an additional 270 shares during the period. Vision Financial Markets LLC acquired a new stake in shares of Roku in the 4th quarter worth about $30,000. Raelipskie Partnership acquired a new stake in shares of Roku in the 3rd quarter worth about $32,000. Game Plan Financial Advisors LLC acquired a new stake in shares of Roku in the 4th quarter worth about $37,000. Finally, Harvest Fund Management Co. Ltd increased its holdings in shares of Roku by 4,091.7% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 503 shares of the company’s stock worth $37,000 after acquiring an additional 491 shares during the period. 86.30% of the stock is owned by institutional investors and hedge funds.

About Roku

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.