Roku (NASDAQ:ROKU) Stock Price Down 0.5% on Insider Selling

Roku, Inc. (NASDAQ:ROKU)’s share price dropped 0.5% during mid-day trading on Tuesday following insider selling activity. The company traded as low as $72.34 and last traded at $73.67. Approximately 452,506 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 4,402,710 shares. The stock had previously closed at $74.03.

Specifically, CAO Matthew C. Banks sold 8,693 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $71.44, for a total transaction of $621,027.92. Following the completion of the transaction, the chief accounting officer now directly owns 7,264 shares of the company’s stock, valued at $518,940.16. The trade was a 54.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Charles Collier sold 10,771 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $71.14, for a total value of $766,248.94. Following the transaction, the insider now owns 3,790 shares of the company’s stock, valued at approximately $269,620.60. This represents a 73.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other Roku news, CFO Dan Jedda sold 1,000 shares of Roku stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $75.00, for a total transaction of $75,000.00. Following the sale, the chief financial officer now owns 65,555 shares of the company’s stock, valued at $4,916,625. The trade was a 1.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Analyst Ratings Changes

Several equities analysts have commented on ROKU shares. Morgan Stanley raised their target price on shares of Roku from $60.00 to $65.00 and gave the company an “underweight” rating in a research note on Tuesday, October 29th. Guggenheim raised Roku from a “neutral” rating to a “buy” rating and set a $75.00 target price for the company in a report on Friday, August 23rd. Bank of America upped their price target on shares of Roku from $75.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Needham & Company LLC restated a “buy” rating and set a $100.00 price objective on shares of Roku in a research report on Thursday, October 31st. Finally, Loop Capital boosted their price target on shares of Roku from $65.00 to $70.00 and gave the company a “hold” rating in a report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Roku currently has an average rating of “Moderate Buy” and an average target price of $84.67.

Roku Stock Up 1.1 %

The business has a fifty day simple moving average of $74.69 and a 200 day simple moving average of $64.94.

Roku (NASDAQ:ROKU) last posted its quarterly earnings data on Wednesday, October 30th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.29. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. Roku had a negative return on equity of 7.22% and a negative net margin of 4.42%. The company’s revenue was up 16.5% on a year-over-year basis. During the same quarter last year, the company earned ($2.33) EPS. Equities research analysts predict that Roku, Inc. will post -1.1 earnings per share for the current year.

Institutional Investors Weigh In On Roku

Several hedge funds and other institutional investors have recently made changes to their positions in ROKU. Raelipskie Partnership acquired a new stake in Roku in the third quarter valued at approximately $32,000. EverSource Wealth Advisors LLC lifted its stake in shares of Roku by 123.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company’s stock valued at $40,000 after acquiring an additional 375 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new stake in shares of Roku during the 3rd quarter valued at $43,000. GS Investments Inc. grew its position 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, Cedar Wealth Management LLC acquired a new position in Roku in the 2nd quarter worth about $48,000. 86.30% of the stock is owned by institutional investors.

About Roku

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.