Roku (NASDAQ:ROKU) Shares Down 0.5% Following Insider Selling

Roku, Inc. (NASDAQ:ROKU) shares traded down 0.5% on Tuesday following insider selling activity. The company traded as low as $72.34 and last traded at $73.67. 452,506 shares changed hands during trading, a decline of 90% from the average session volume of 4,402,710 shares. The stock had previously closed at $74.03.

Specifically, CAO Matthew C. Banks sold 8,693 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $71.44, for a total value of $621,027.92. Following the completion of the transaction, the chief accounting officer now directly owns 7,264 shares in the company, valued at approximately $518,940.16. This represents a 54.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Charles Collier sold 10,771 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $71.14, for a total value of $766,248.94. Following the transaction, the insider now owns 3,790 shares of the company’s stock, valued at approximately $269,620.60. This represents a 73.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In related news, CFO Dan Jedda sold 1,000 shares of Roku stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $75.00, for a total value of $75,000.00. Following the completion of the transaction, the chief financial officer now owns 65,555 shares in the company, valued at approximately $4,916,625. The trade was a 1.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley raised their price objective on shares of Roku from $60.00 to $65.00 and gave the company an “underweight” rating in a report on Tuesday, October 29th. Citigroup lifted their price objective on shares of Roku from $60.00 to $77.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Moffett Nathanson upgraded shares of Roku from a “sell” rating to a “neutral” rating and set a $80.00 price objective for the company in a research report on Tuesday, October 1st. Guggenheim raised Roku from a “neutral” rating to a “buy” rating and set a $75.00 target price for the company in a research note on Friday, August 23rd. Finally, Needham & Company LLC reissued a “buy” rating and set a $100.00 price objective on shares of Roku in a report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $84.67.

Roku Trading Up 1.1 %

The firm has a fifty day moving average of $74.69 and a 200 day moving average of $64.94.

Roku (NASDAQ:ROKU) last posted its quarterly earnings data on Wednesday, October 30th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.29. Roku had a negative net margin of 4.42% and a negative return on equity of 7.22%. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same period in the prior year, the company posted ($2.33) EPS. The firm’s revenue for the quarter was up 16.5% on a year-over-year basis. As a group, research analysts predict that Roku, Inc. will post -1.1 earnings per share for the current year.

Institutional Trading of Roku

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Raelipskie Partnership acquired a new position in Roku in the third quarter worth about $32,000. Future Financial Wealth Managment LLC acquired a new position in Roku in the third quarter worth $43,000. GS Investments Inc. increased its stake in Roku by 33.4% during the third quarter. GS Investments Inc. now owns 587 shares of the company’s stock valued at $44,000 after purchasing an additional 147 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Roku by 123.4% during the second quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company’s stock worth $40,000 after purchasing an additional 375 shares during the period. Finally, Cedar Wealth Management LLC bought a new position in shares of Roku in the 2nd quarter worth about $48,000. Institutional investors own 86.30% of the company’s stock.

Roku Company Profile

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.