Roku (NASDAQ:ROKU) Shares Down 1.2% After Insider Selling

Roku, Inc. (NASDAQ:ROKU) fell 1.2% during trading on Friday after an insider sold shares in the company. The company traded as low as $103.27 and last traded at $103.66. 2,061,289 shares were traded 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 stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $107.56, for a total transaction of $322,680.00. Following the transaction, the chief financial officer directly owned 87,267 shares in the company, valued at approximately $9,386,438.52. This represents a 3.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Anthony J. Wood sold 75,000 shares of Roku stock in a transaction dated 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

Several research analysts have recently weighed in on the stock. Zacks Research lowered shares of Roku from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 30th. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Roku in a research note on Monday, January 5th. Pivotal Research lifted their price target on shares of Roku from $120.00 to $135.00 and gave the company a “buy” rating in a report on Monday, November 3rd. Needham & Company LLC reissued a “buy” rating and set a $110.00 price objective on shares of Roku in a research note on Wednesday, October 1st. Finally, Raymond James Financial reaffirmed a “market perform” rating on shares of Roku in a research report on Friday, October 31st. Twenty-three equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Roku has an average rating of “Moderate Buy” and a consensus target price of $119.32.

Roku Stock Performance

The company’s fifty day moving average is $104.31 and its two-hundred day moving average is $97.82. 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 announced 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. The firm 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%.The firm’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.06) EPS. As a group, analysts forecast that Roku, Inc. will post -0.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Blue Trust Inc. grew its holdings in Roku by 680.0% during the 4th quarter. Blue Trust Inc. now owns 234 shares of the company’s stock valued at $25,000 after purchasing an additional 204 shares in the last quarter. Aventura Private Wealth LLC purchased a new position in Roku in the 4th quarter valued at about $26,000. Westfuller Advisors LLC acquired a new stake in shares of Roku during the third quarter valued at about $30,000. Root Financial Partners LLC purchased a new stake in shares of Roku during the third quarter worth about $33,000. Finally, Rakuten Securities Inc. lifted 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 worth $39,000 after acquiring an additional 158 shares in the last quarter. 86.30% of the stock is owned by institutional investors and hedge funds.

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.