Roku (NASDAQ:ROKU) Stock Price Down 1.2% Following Insider Selling

Roku, Inc. (NASDAQ:ROKU) shares dropped 1.2% on Thursday after an insider sold shares in the company. The company traded as low as $81.87 and last traded at $84.09. Approximately 916,759 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 3,638,659 shares. The stock had previously closed at $85.07.

Specifically, insider Charles Collier sold 7,181 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $78.25, for a total transaction of $561,913.25. Following the transaction, the insider now directly owns 7,380 shares in the company, valued at approximately $577,485. This represents a 49.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Matthew C. Banks sold 1,906 shares of Roku stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $80.36, for a total transaction of $153,166.16. Following the transaction, the chief accounting officer now directly owns 7,256 shares in the company, valued at approximately $583,092.16. This represents a 20.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analysts Set New Price Targets

ROKU has been the subject of a number of research analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $100.00 target price on shares of Roku in a research note on Monday, February 10th. Loop Capital lifted their price objective on shares of Roku from $70.00 to $80.00 and gave the stock a “hold” rating in a research report on Monday, December 9th. UBS Group upped their target price on Roku from $73.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Benchmark lifted their price objective on shares of Roku from $100.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Finally, JMP Securities upped their target price on Roku from $95.00 to $115.00 and gave the company a “market outperform” rating in a research report on Friday, February 14th. One analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $96.71.

Roku Price Performance

The firm has a market cap of $12.28 billion, a P/E ratio of -94.48 and a beta of 2.12. The firm has a fifty day simple moving average of $82.30 and a 200-day simple moving average of $76.72.

Roku (NASDAQ:ROKU) last announced its quarterly earnings results on Thursday, February 13th. The company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.20. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.15 billion. On average, equities analysts predict that Roku, Inc. will post -0.3 earnings per share for the current year.

Hedge Funds Weigh In On Roku

A number of hedge funds have recently added to or reduced their stakes in ROKU. Farther Finance Advisors LLC lifted its holdings in shares of Roku by 23.9% in the fourth quarter. Farther Finance Advisors LLC now owns 627 shares of the company’s stock valued at $47,000 after purchasing an additional 121 shares in the last quarter. United Advisor Group LLC raised its position in Roku by 0.9% in the 4th quarter. United Advisor Group LLC now owns 14,430 shares of the company’s stock valued at $1,073,000 after buying an additional 130 shares during the last quarter. Cerity Partners LLC lifted its stake in Roku by 0.5% during the 4th quarter. Cerity Partners LLC now owns 26,679 shares of the company’s stock valued at $1,984,000 after acquiring an additional 145 shares in the last quarter. GS Investments Inc. boosted its holdings in Roku by 33.4% during the 3rd quarter. GS Investments Inc. now owns 587 shares of the company’s stock worth $44,000 after acquiring an additional 147 shares during the last quarter. Finally, True Vision MN LLC grew its stake in shares of Roku by 3.1% in the 3rd quarter. True Vision MN LLC now owns 5,018 shares of the company’s stock worth $375,000 after acquiring an additional 152 shares in the last quarter. Institutional investors and hedge funds 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.