Roku (NASDAQ:ROKU) Stock Price Down 5.4% on Insider Selling

Roku, Inc. (NASDAQ:ROKU)’s stock price was down 5.4% during trading on Wednesday following insider selling activity. The company traded as low as $91.77 and last traded at $92.98. Approximately 4,444,716 shares traded hands during mid-day trading, an increase of 19% from the average daily volume of 3,744,511 shares. The stock had previously closed at $98.26.

Specifically, Director Neil D. Hunt sold 2,000 shares of the firm’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $96.18, for a total value of $192,360.00. Following the sale, the director directly owned 7,782 shares in the company, valued at $748,472.76. This trade represents a 20.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Matthew C. Banks sold 731 shares of the company’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $95.64, for a total transaction of $69,912.84. Following the transaction, the chief accounting officer directly owned 6,554 shares of the company’s stock, valued at $626,824.56. This represents a 10.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure.

Analyst Ratings Changes

Several equities analysts recently commented on ROKU shares. Wall Street Zen downgraded Roku from a “buy” rating to a “hold” rating in a research report on Saturday, November 29th. JPMorgan Chase & Co. lifted their price objective on Roku from $105.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, October 31st. Evercore ISI restated a “positive” rating on shares of Roku in a research note on Friday, October 31st. Morgan Stanley reiterated an “underweight” rating on shares of Roku in a research report on Friday, October 31st. Finally, UBS Group boosted their price target on shares of Roku from $95.00 to $103.00 and gave the company a “neutral” rating in a research report on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Roku has an average rating of “Moderate Buy” and a consensus target price of $113.14.

Roku Stock Up 5.9%

The stock has a fifty day moving average of $98.87 and a 200-day moving average of $91.12. The firm has a market capitalization of $14.79 billion, a P/E ratio of -500.42 and a beta of 1.98.

Roku (NASDAQ:ROKU) last issued 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 business had revenue of $1.21 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was up 14.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.06) earnings per share. As a group, analysts forecast that Roku, Inc. will post -0.3 EPS for the current fiscal year.

Institutional Investors Weigh In On Roku

Several institutional investors have recently modified their holdings of ROKU. Banque Transatlantique SA acquired a new position in Roku in the first quarter valued at approximately $28,000. Beaird Harris Wealth Management LLC acquired a new position in Roku during the first quarter valued at approximately $30,000. Westfuller Advisors LLC bought a new stake in Roku in the third quarter valued at approximately $30,000. Root Financial Partners LLC acquired a new stake in Roku in the third quarter worth $33,000. Finally, Rakuten Securities Inc. boosted its position in shares of Roku by 55.6% during the second quarter. Rakuten Securities Inc. now owns 442 shares of the company’s stock worth $39,000 after purchasing an additional 158 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.