Roku (NASDAQ:ROKU) Shares Gap Down on Insider Selling

Roku, Inc. (NASDAQ:ROKU) gapped down before the market opened on Thursday following insider selling activity. The stock had previously closed at $84.78, but opened at $81.76. Roku shares last traded at $85.36, with a volume of 1,148,318 shares.

Specifically, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $87.93, for a total value of $2,198,250.00. Following the transaction, the chief executive officer now directly owns 26,538 shares in the company, valued at $2,333,486.34. This trade represents a 48.51 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Wall Street Analyst Weigh In

ROKU has been the topic of a number of recent research reports. Moffett Nathanson downgraded Roku from a “neutral” rating to a “sell” rating and set a $55.00 target price on the stock. in a report on Friday, January 10th. Wells Fargo & Company increased their price objective on shares of Roku from $72.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Citizens Jmp raised Roku to a “strong-buy” rating in a report on Tuesday, January 21st. Robert W. Baird upgraded shares of Roku from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $70.00 to $90.00 in a research note on Monday, November 18th. Finally, UBS Group assumed coverage on shares of Roku in a report on Friday, November 22nd. They issued a “neutral” rating and a $73.00 target price for the company. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Roku presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.18.

Roku Trading Up 0.3 %

The firm has a market capitalization of $12.35 billion, a P/E ratio of -70.86 and a beta of 2.05. The firm has a 50 day moving average price of $80.17 and a 200-day moving average price of $73.28.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. FMR LLC lifted its holdings in shares of Roku by 31.7% in the 4th quarter. FMR LLC now owns 19,183,942 shares of the company’s stock worth $1,426,134,000 after acquiring an additional 4,613,570 shares during the last quarter. Vanguard Group Inc. raised its position in Roku by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 12,249,091 shares of the company’s stock worth $910,597,000 after purchasing an additional 185,676 shares during the period. Geode Capital Management LLC lifted its stake in Roku by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 2,147,259 shares of the company’s stock worth $159,353,000 after purchasing an additional 56,820 shares during the last quarter. Holocene Advisors LP purchased a new position in shares of Roku during the third quarter valued at approximately $129,015,000. Finally, Westfield Capital Management Co. LP grew its stake in shares of Roku by 126.1% during the third quarter. Westfield Capital Management Co. LP now owns 1,535,576 shares of the company’s stock valued at $114,646,000 after buying an additional 856,401 shares during the last quarter. 86.30% of the stock is owned by hedge funds and other institutional investors.

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.