Roku (NASDAQ:ROKU) Shares Gap Down on Insider Selling

Roku, Inc. (NASDAQ:ROKU) shares gapped down before the market opened on Thursday after an insider sold shares in the company. The stock had previously closed at $84.78, but opened at $81.76. Roku shares last traded at $85.36, with a volume of 1,148,318 shares trading hands.

Specifically, CEO Anthony J. Wood sold 25,000 shares of the company’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $87.93, for a total value of $2,198,250.00. Following the transaction, the chief executive officer now directly owns 26,538 shares in the company, valued at $2,333,486.34. This represents a 48.51 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Wall Street Analyst Weigh In

ROKU has been the subject of a number of research reports. Piper Sandler boosted their price target on shares of Roku from $60.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Loop Capital raised their price objective on Roku from $70.00 to $80.00 and gave the company a “hold” rating in a report on Monday, December 9th. Jefferies Financial Group cut their target price on Roku from $60.00 to $55.00 and set an “underperform” rating for the company in a research note on Friday, November 1st. Baird R W raised shares of Roku from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 18th. Finally, Macquarie reiterated an “outperform” rating and issued a $90.00 target price on shares of Roku in a research report on Thursday, October 31st. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Roku presently has an average rating of “Moderate Buy” and an average price target of $83.18.

Roku Stock Performance

The stock has a market cap of $12.35 billion, a P/E ratio of -70.86 and a beta of 2.05. The firm has a 50-day moving average price of $80.17 and a 200-day moving average price of $73.28.

Hedge Funds Weigh In On Roku

A number of institutional investors have recently added to or reduced their stakes in ROKU. Entropy Technologies LP grew its position in shares of Roku by 264.4% in the 4th quarter. Entropy Technologies LP now owns 25,525 shares of the company’s stock worth $1,898,000 after buying an additional 18,520 shares during the period. Holocene Advisors LP bought a new stake in Roku during the third quarter worth about $129,015,000. Kessler Investment Group LLC grew its holdings in Roku by 21.8% in the third quarter. Kessler Investment Group LLC now owns 75,968 shares of the company’s stock worth $5,672,000 after purchasing an additional 13,590 shares during the period. National Bank of Canada FI increased its stake in shares of Roku by 11,626.3% during the third quarter. National Bank of Canada FI now owns 150,800 shares of the company’s stock valued at $11,259,000 after purchasing an additional 149,514 shares in the last quarter. Finally, EULAV Asset Management increased its position in Roku by 59.1% during the 3rd quarter. EULAV Asset Management now owns 183,000 shares of the company’s stock valued at $13,663,000 after buying an additional 68,000 shares in the last quarter. Institutional investors 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.