Insider Selling: Roku, Inc. (NASDAQ:ROKU) CEO Sells 25,000 Shares of Stock

Roku, Inc. (NASDAQ:ROKU - Get Free Report) CEO Anthony J. Wood sold 25,000 shares of the company's stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $89.64, for a total transaction of $2,241,000.00. Following the completion of the sale, the chief executive officer directly owned 11,953 shares in the company, valued at approximately $1,071,466.92. The trade was a 67.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Roku Stock Performance

ROKU stock traded down $1.26 during trading on Friday, reaching $88.99. 2,250,377 shares of the company were exchanged, compared to its average volume of 3,837,276. The company has a market cap of $12.99 billion, a P/E ratio of -121.90 and a beta of 2.12. Roku, Inc. has a 52-week low of $48.33 and a 52-week high of $104.96. The stock's 50 day moving average price is $76.79 and its 200 day moving average price is $75.66.

Roku (NASDAQ:ROKU - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.08. Roku had a negative net margin of 2.49% and a negative return on equity of 4.29%. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the prior year, the business posted ($0.35) earnings per share. Roku's revenue for the quarter was up 15.8% compared to the same quarter last year. As a group, equities research analysts forecast that Roku, Inc. will post -0.3 EPS for the current year.

Wall Street Analysts Forecast Growth

ROKU has been the topic of several recent research reports. Pivotal Research lowered their price target on shares of Roku from $125.00 to $100.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Redburn Atlantic raised shares of Roku from a "neutral" rating to a "buy" rating and set a $100.00 target price on the stock in a research note on Monday, April 7th. Rosenblatt Securities lowered their target price on shares of Roku from $100.00 to $75.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. Piper Sandler increased their target price on shares of Roku from $65.00 to $84.00 and gave the stock a "neutral" rating in a research note on Thursday. Finally, Compass Point assumed coverage on shares of Roku in a research note on Sunday, March 23rd. They set a "buy" rating on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Roku currently has a consensus rating of "Moderate Buy" and an average price target of $92.67.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC grew its holdings in Roku by 31.7% during the 4th quarter. FMR LLC now owns 19,183,942 shares of the company's stock valued at $1,426,134,000 after purchasing an additional 4,613,570 shares in the last quarter. Marshall Wace LLP grew its holdings in Roku by 663.9% during the 4th quarter. Marshall Wace LLP now owns 2,335,813 shares of the company's stock worth $173,644,000 after acquiring an additional 2,030,036 shares in the last quarter. Acadian Asset Management LLC grew its holdings in Roku by 456.7% during the 1st quarter. Acadian Asset Management LLC now owns 1,905,779 shares of the company's stock worth $134,222,000 after acquiring an additional 1,563,449 shares in the last quarter. Cadian Capital Management LP acquired a new position in Roku during the 4th quarter worth $87,632,000. Finally, Jacobs Levy Equity Management Inc. grew its holdings in Roku by 505.3% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,296,774 shares of the company's stock worth $96,402,000 after acquiring an additional 1,082,548 shares in the last quarter. 86.30% of the stock is currently 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.