Roku (NASDAQ:ROKU) Trading Down 0.3% on Insider Selling

Shares of Roku, Inc. (NASDAQ:ROKU) traded down 0.3% during trading on Tuesday following insider selling activity. The stock traded as low as $53.52 and last traded at $53.83. 604,665 shares were traded during mid-day trading, a decline of 88% from the average session volume of 5,052,246 shares. The stock had previously closed at $53.97.

Specifically, SVP Stephen H. Kay sold 3,322 shares of Roku stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $57.09, for a total value of $189,652.98. Following the completion of the transaction, the senior vice president now directly owns 82,036 shares in the company, valued at approximately $4,683,435.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Stephen H. Kay sold 3,322 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $57.09, for a total transaction of $189,652.98. Following the completion of the transaction, the senior vice president now directly owns 82,036 shares in the company, valued at approximately $4,683,435.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Stephen H. Kay sold 12,124 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $55.59, for a total transaction of $673,973.16. Following the transaction, the senior vice president now owns 91,905 shares of the company’s stock, valued at $5,108,998.95. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,898 shares of company stock worth $1,347,966. Corporate insiders own 13.98% of the company’s stock.

Wall Street Analysts Forecast Growth

ROKU has been the subject of a number of research analyst reports. Wedbush dropped their price objective on shares of Roku from $80.00 to $75.00 and set an “outperform” rating for the company in a report on Friday, April 26th. Jefferies Financial Group initiated coverage on shares of Roku in a report on Thursday, May 2nd. They set an “underperform” rating and a $50.00 price objective for the company. Susquehanna dropped their price objective on shares of Roku from $110.00 to $80.00 and set a “positive” rating for the company in a report on Monday, April 29th. Benchmark dropped their price objective on shares of Roku from $115.00 to $105.00 and set a “buy” rating for the company in a report on Friday, April 26th. Finally, Piper Sandler reissued a “neutral” rating and issued a $65.00 price target (down from $81.00) on shares of Roku in a research note on Friday, April 26th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $82.50.

Roku Price Performance

The company has a market cap of $7.76 billion, a P/E ratio of -13.49 and a beta of 1.92. The stock’s 50-day moving average is $58.69 and its two-hundred day moving average is $73.35.

Roku (NASDAQ:ROKU) last announced its quarterly earnings data on Thursday, April 25th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.64) by $0.29. The firm had revenue of $881.50 million during the quarter, compared to analysts’ expectations of $843.54 million. Roku had a negative net margin of 15.64% and a negative return on equity of 23.81%. The company’s revenue for the quarter was up 19.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.38) earnings per share. On average, analysts predict that Roku, Inc. will post -1.94 EPS for the current year.

Hedge Funds Weigh In On Roku

Several institutional investors have recently bought and sold shares of ROKU. FMR LLC grew its stake in Roku by 85.9% during the third quarter. FMR LLC now owns 9,441,349 shares of the company’s stock valued at $666,465,000 after acquiring an additional 4,363,754 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in Roku by 24.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,349,067 shares of the company’s stock valued at $478,939,000 after acquiring an additional 1,457,925 shares in the last quarter. Nikko Asset Management Americas Inc. grew its stake in Roku by 25.8% during the first quarter. Nikko Asset Management Americas Inc. now owns 7,091,891 shares of the company’s stock valued at $462,108,000 after acquiring an additional 1,455,408 shares in the last quarter. Norges Bank purchased a new position in Roku during the fourth quarter valued at $90,386,000. Finally, Wellington Management Group LLP grew its stake in shares of Roku by 34.6% in the 3rd quarter. Wellington Management Group LLP now owns 2,543,081 shares of the company’s stock worth $179,516,000 after buying an additional 653,940 shares in the last quarter. 86.30% of the stock is owned by hedge funds and other 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.