Roku (NASDAQ:ROKU) Shares Down 1.5% After Insider Selling

Roku, Inc. (NASDAQ:ROKU - Get Free Report) dropped 1.5% during mid-day trading on Friday after an insider sold shares in the company. The stock traded as low as $88.91 and last traded at $88.91. Approximately 424,144 shares were traded during trading, a decline of 89% from the average daily volume of 3,827,794 shares. The stock had previously closed at $90.25.

Specifically, CFO Dan Jedda sold 1,500 shares of Roku stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $91.00, for a total value of $136,500.00. Following the sale, the chief financial officer owned 79,132 shares of the company's stock, valued at $7,201,012. The trade was a 1.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction dated 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 position. The disclosure for this sale can be found here.

Analyst Ratings Changes

ROKU has been the topic of several analyst reports. 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 report on Monday, April 7th. Needham & Company LLC lifted their target price on shares of Roku from $88.50 to $100.00 and gave the company a "buy" rating in a report on Wednesday. Bank of America boosted their price objective on shares of Roku from $100.00 to $110.00 and gave the stock a "buy" rating in a report on Thursday, July 3rd. Evercore ISI decreased their price objective on shares of Roku from $105.00 to $80.00 and set an "in-line" rating on the stock in a report on Friday, May 2nd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Roku from $75.00 to $85.00 and gave the stock an "overweight" rating in a report on Tuesday, June 3rd. One analyst has rated the stock with a sell rating, seven have given a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $92.67.

Roku Price Performance

The business's 50-day moving average price is $76.79 and its two-hundred day moving average price is $75.66. The firm has a market cap of $12.99 billion, a price-to-earnings ratio of -121.90 and a beta of 2.12.

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, sell-side analysts forecast that Roku, Inc. will post -0.3 earnings per share for the current year.

Hedge Funds Weigh In On Roku

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Farther Finance Advisors LLC increased its position in Roku by 23.9% during the fourth quarter. Farther Finance Advisors LLC now owns 627 shares of the company's stock worth $47,000 after purchasing an additional 121 shares during the last quarter. United Advisor Group LLC increased its position in shares of Roku by 0.9% in the fourth quarter. United Advisor Group LLC now owns 14,430 shares of the company's stock worth $1,073,000 after acquiring an additional 130 shares in the last quarter. Cerity Partners LLC increased its position in shares of Roku by 0.5% in the fourth quarter. Cerity Partners LLC now owns 26,679 shares of the company's stock worth $1,984,000 after acquiring an additional 145 shares in the last quarter. Nissay Asset Management Corp Japan ADV increased its position in shares of Roku by 1.0% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 15,575 shares of the company's stock worth $1,097,000 after acquiring an additional 160 shares in the last quarter. Finally, Stonekeep Investments LLC increased its position in shares of Roku by 4.9% in the second quarter. Stonekeep Investments LLC now owns 4,084 shares of the company's stock worth $359,000 after acquiring an additional 191 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.