Roku (NASDAQ:ROKU) Stock Price Down 2% After Insider Selling

Roku, Inc. (NASDAQ:ROKU - Get Free Report)'s stock price fell 2% during mid-day trading on Thursday following insider selling activity. The company traded as low as $78.22 and last traded at $78.85. 493,078 shares changed hands during trading, a decline of 87% from the average session volume of 3,826,689 shares. The stock had previously closed at $80.48.

Specifically, CEO Anthony J. Wood sold 25,000 shares of the firm's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $80.27, for a total value of $2,006,750.00. Following the sale, the chief executive officer now directly owns 11,953 shares of the company's stock, valued at $959,467.31. This trade represents a 67.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Mai Fyfield sold 914 shares of Roku stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $78.50, for a total value of $71,749.00. Following the sale, the director now directly owns 4,374 shares in the company, valued at approximately $343,359. The trade was a 17.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. In other Roku news, insider Charles Collier sold 7,181 shares of Roku stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $75.00, for a total transaction of $538,575.00. Following the sale, the insider now directly owns 10,970 shares of the company's stock, valued at approximately $822,750. The trade was a 39.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Analyst Ratings Changes

A number of brokerages recently weighed in on ROKU. Evercore ISI decreased their price objective on shares of Roku from $105.00 to $80.00 and set an "in-line" rating for the company in a report on Friday, May 2nd. Citigroup decreased their target price on shares of Roku from $81.00 to $68.00 and set a "neutral" rating for the company in a research note on Tuesday, May 6th. Wedbush decreased their target price on shares of Roku from $125.00 to $100.00 and set an "outperform" rating for the company in a research note on Monday, April 28th. Rosenblatt Securities decreased their target price on shares of Roku from $100.00 to $75.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. Finally, Guggenheim restated a "buy" rating and issued a $100.00 price objective on shares of Roku in a research note on Friday, May 2nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Roku presently has an average rating of "Moderate Buy" and a consensus target price of $88.37.

Roku Stock Down 4.6%

The company's 50 day simple moving average is $67.07 and its 200-day simple moving average is $74.73. The firm has a market cap of $11.20 billion, a P/E ratio of -86.24 and a beta of 2.09.

Roku (NASDAQ:ROKU - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.08. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. Roku's revenue was up 15.8% compared to the same quarter last year. During the same period last year, the company posted ($0.35) earnings per share. Equities research analysts predict that Roku, Inc. will post -0.3 EPS for the current year.

Hedge Funds Weigh In On Roku

Several institutional investors and hedge funds have recently bought and sold shares of the company. Jacobs Levy Equity Management Inc. grew its holdings in shares of Roku by 505.3% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,296,774 shares of the company's stock valued at $96,402,000 after buying an additional 1,082,548 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Roku by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 2,147,259 shares of the company's stock valued at $159,353,000 after purchasing an additional 56,820 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Roku by 3.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 990,867 shares of the company's stock valued at $73,661,000 after purchasing an additional 34,898 shares during the last quarter. Achmea Investment Management B.V. boosted its holdings in Roku by 146.4% in the fourth quarter. Achmea Investment Management B.V. now owns 10,168 shares of the company's stock valued at $756,000 after purchasing an additional 6,042 shares during the last quarter. Finally, J. Goldman & Co LP boosted its holdings in Roku by 973.1% in the fourth quarter. J. Goldman & Co LP now owns 354,326 shares of the company's stock valued at $26,341,000 after purchasing an additional 321,307 shares during the last quarter. 86.30% of the stock is 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.