Roku (NASDAQ:ROKU) Shares Down 2.4% Following Insider Selling

Roku, Inc. (NASDAQ:ROKU)’s share price dropped 2.4% on Thursday after an insider sold shares in the company. The company traded as low as $103.93 and last traded at $104.97. Approximately 3,106,797 shares traded hands during trading, a decline of 2% from the average daily volume of 3,180,741 shares. The stock had previously closed at $107.55.

Specifically, CEO Anthony J. Wood sold 75,000 shares of the business’s stock in a transaction on Monday, January 12th. The shares were sold at an average price of $109.61, for a total value of $8,220,750.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. UBS Group lifted their target price 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. Arete upgraded shares of Roku from a “neutral” rating to a “buy” rating and set a $132.00 price target for the company in a research note on Monday, January 5th. Benchmark reaffirmed a “buy” rating on shares of Roku in a report on Monday, October 27th. Raymond James Financial reissued a “market perform” rating on shares of Roku in a report on Friday, October 31st. Finally, Wells Fargo & Company restated an “overweight” rating on shares of Roku in a research report on Monday, January 5th. Twenty-three research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $119.32.

Roku Price Performance

The stock has a 50 day moving average price of $104.31 and a two-hundred day moving average price of $97.77. The company has a market capitalization of $15.51 billion, a price-to-earnings ratio of -524.82 and a beta of 1.95.

Roku (NASDAQ:ROKU) last issued its quarterly earnings data on Thursday, October 30th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.09. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.21 billion. Roku had a negative net margin of 0.61% and a negative return on equity of 1.08%. The company’s revenue was up 14.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.06) EPS. Sell-side analysts forecast that Roku, Inc. will post -0.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. GAMMA Investing LLC grew its holdings in Roku by 9.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,114 shares of the company’s stock worth $112,000 after acquiring an additional 97 shares during the period. Cornerstone Wealth Management LLC boosted its position in shares of Roku by 3.8% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 2,728 shares of the company’s stock worth $273,000 after purchasing an additional 100 shares during the last quarter. Thoroughbred Financial Services LLC grew its stake in shares of Roku by 1.0% during the third quarter. Thoroughbred Financial Services LLC now owns 9,945 shares of the company’s stock worth $995,000 after purchasing an additional 100 shares during the period. Aviance Capital Partners LLC increased its holdings in Roku by 2.6% in the third quarter. Aviance Capital Partners LLC now owns 4,172 shares of the company’s stock valued at $418,000 after purchasing an additional 106 shares during the last quarter. Finally, O Keefe Stevens Advisory Inc. increased its holdings in Roku by 1.8% in the third quarter. O Keefe Stevens Advisory Inc. now owns 6,233 shares of the company’s stock valued at $624,000 after purchasing an additional 113 shares during the last quarter. Institutional investors own 86.30% of the company’s stock.

About Roku

Roku, Inc (NASDAQ: ROKU) is a technology company that develops and operates a proprietary streaming platform designed to deliver entertainment content to consumers via internet-connected devices and smart televisions. Since its inception in 2002 in California, Roku has focused on simplifying access to streaming services for viewers worldwide. The company’s platform enables users to discover, access and manage a wide array of over-the-top content from major streaming services, free ad-supported channels and niche providers.

At the core of Roku’s product lineup are a range of streaming players and sticks, which connect to televisions via HDMI and deliver the Roku OS experience.