Roku (NASDAQ:ROKU) Shares Down 2.4% Following Insider Selling

Roku, Inc. (NASDAQ:ROKU) shares dropped 2.4% during trading on Thursday following insider selling activity. The stock traded as low as $103.93 and last traded at $104.97. Approximately 3,106,797 shares traded hands during trading, a decline of 2% from the average daily volume of 3,180,741 shares. The stock had previously closed at $107.55.

Specifically, 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. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Wells Fargo & Company restated an “overweight” rating on shares of Roku in a report on Monday, January 5th. Piper Sandler upgraded Roku from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $88.00 to $135.00 in a research note on Monday, November 3rd. Citizens Jmp reaffirmed a “market outperform” rating and issued a $145.00 target price on shares of Roku in a research report on Tuesday, December 2nd. Arete Research set a $132.00 price target on Roku and gave the company a “buy” rating in a report on Monday, January 5th. Finally, JMP Securities reissued a “market outperform” rating and issued a $145.00 price target on shares of Roku in a research note on Thursday, October 2nd. Twenty-three 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, Roku presently has a consensus rating of “Moderate Buy” and a consensus target price of $119.32.

Roku Stock Down 2.4%

The firm has a 50-day moving average price of $104.31 and a two-hundred day moving average price of $97.77. The company has a market capitalization of $15.51 billion, a P/E ratio of -524.82 and a beta of 1.95.

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

Institutional Investors Weigh In On Roku

Several hedge funds have recently made changes to their positions in the stock. Aventura Private Wealth LLC bought a new position in Roku during the fourth quarter valued at about $26,000. Westfuller Advisors LLC acquired a new stake in shares of Roku during the 3rd quarter worth approximately $30,000. Root Financial Partners LLC bought a new stake in shares of Roku during the third quarter valued at approximately $33,000. Rakuten Securities Inc. raised its stake in shares of Roku by 55.6% in the second quarter. Rakuten Securities Inc. now owns 442 shares of the company’s stock valued at $39,000 after purchasing an additional 158 shares in the last quarter. Finally, JFS Wealth Advisors LLC raised its stake in shares of Roku by 327.1% in the second quarter. JFS Wealth Advisors LLC now owns 457 shares of the company’s stock valued at $40,000 after purchasing an additional 350 shares in the last quarter. Institutional investors own 86.30% of the company’s stock.

Roku Company Profile

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.