Roku, Inc. (NASDAQ:ROKU) CAO Matthew C. Banks Sells 8,693 Shares

Roku, Inc. (NASDAQ:ROKU) CAO Matthew C. Banks sold 8,693 shares of Roku 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 transaction, the chief accounting officer now owns 7,264 shares of the company’s stock, valued at $518,940.16. This represents a 54.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Roku Price Performance

ROKU stock traded down $0.42 during midday trading on Tuesday, reaching $73.61. 2,831,057 shares of the stock were exchanged, compared to its average volume of 4,413,427. Roku, Inc. has a 52 week low of $48.33 and a 52 week high of $108.84. The company has a fifty day moving average price of $74.53 and a 200 day moving average price of $64.84. The stock has a market capitalization of $10.69 billion, a PE ratio of -61.34 and a beta of 2.07.

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

Analysts Set New Price Targets

Several research firms have commented on ROKU. Jefferies Financial Group decreased their price objective on shares of Roku from $60.00 to $55.00 and set an “underperform” rating on the stock in a report on Friday, November 1st. Morgan Stanley boosted their price objective on Roku from $60.00 to $65.00 and gave the stock an “underweight” rating in a report on Tuesday, October 29th. JPMorgan Chase & Co. boosted their price target on Roku from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Robert W. Baird upgraded Roku from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $70.00 to $90.00 in a research report on Monday. Finally, Benchmark restated a “buy” rating and issued a $105.00 price target on shares of Roku in a research note on Thursday, September 12th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Roku currently has a consensus rating of “Moderate Buy” and an average price target of $84.67.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ROKU. Holocene Advisors LP purchased a new position in Roku during the third quarter worth about $129,015,000. Westfield Capital Management Co. LP raised its holdings in Roku by 126.1% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,535,576 shares of the company’s stock valued at $114,646,000 after acquiring an additional 856,401 shares during the period. Point72 Asset Management L.P. boosted its stake in Roku by 352.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 651,658 shares of the company’s stock worth $48,653,000 after purchasing an additional 507,643 shares during the period. JAT Capital Mgmt LP grew its stake in Roku by 470.2% during the third quarter. JAT Capital Mgmt LP now owns 540,577 shares of the company’s stock valued at $40,359,000 after acquiring an additional 445,777 shares in the last quarter. Finally, FMR LLC grew its position in shares of Roku by 1.7% during the 3rd quarter. FMR LLC now owns 14,570,372 shares of the company’s stock valued at $1,087,824,000 after purchasing an additional 244,793 shares in the last quarter. Institutional investors and hedge funds own 86.30% of the company’s stock.

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.