Roku (NASDAQ:ROKU) Trading Down 6.7% Following Insider Selling

Roku, Inc. (NASDAQ:ROKU - Get Free Report)'s share price was down 6.7% on Wednesday after an insider sold shares in the company. The stock traded as low as $67.12 and last traded at $68.69. Approximately 2,745,573 shares traded hands during trading, a decline of 38% from the average daily volume of 4,406,017 shares. The stock had previously closed at $73.61.

Specifically, CAO Matthew C. Banks sold 8,693 shares of the company's stock in a transaction on Monday, November 18th. The shares were sold at an average price of $71.44, for a total value 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 approximately $518,940.16. This represents a 54.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Charles Collier sold 10,771 shares of the firm'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 transaction of $766,248.94. Following the transaction, the insider now directly owns 3,790 shares of the company's stock, valued at $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 the business's stock in a transaction that occurred 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 transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ROKU. Wedbush upped their price target on shares of Roku from $75.00 to $85.00 and gave the stock an "outperform" rating in a report on Friday, October 25th. Jefferies Financial Group decreased their target price on Roku from $60.00 to $55.00 and set an "underperform" rating for the company in a research report on Friday, November 1st. Moffett Nathanson upgraded Roku from a "sell" rating to a "neutral" rating and set a $80.00 target price on the stock in a report on Tuesday, October 1st. Robert W. Baird upgraded Roku from a "neutral" rating to an "outperform" rating and upped their price objective for the company from $70.00 to $90.00 in a research note on Monday. Finally, Bank of America increased their price target on Roku from $75.00 to $90.00 and gave the stock a "buy" rating in a research note on Monday, September 30th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Roku has a consensus rating of "Moderate Buy" and an average price target of $84.67.

Roku Trading Down 6.7 %

The firm's 50-day moving average price is $74.69 and its 200-day moving average price is $64.94. The stock has a market capitalization of $9.98 billion, a PE ratio of -56.64 and a beta of 2.07.

Roku (NASDAQ:ROKU - Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share for the quarter, topping analysts' consensus estimates of ($0.35) by $0.29. The business 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 business's revenue was up 16.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($2.33) earnings per share. On average, equities research analysts predict that Roku, Inc. will post -1.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Roku

A number of large investors have recently made changes to their positions in ROKU. Sender Co & Partners Inc. purchased a new stake in Roku during the third quarter worth $827,000. M&T Bank Corp increased its position in shares of Roku by 19.1% during the third quarter. M&T Bank Corp now owns 7,024 shares of the company's stock worth $525,000 after purchasing an additional 1,126 shares in the last quarter. Raelipskie Partnership acquired a new stake in shares of Roku in the third quarter valued at about $32,000. Nomura Asset Management Co. Ltd. raised its holdings in Roku by 14.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 36,420 shares of the company's stock valued at $2,719,000 after acquiring an additional 4,500 shares during the last quarter. Finally, MML Investors Services LLC lifted its position in Roku by 9.8% during the third quarter. MML Investors Services LLC now owns 10,592 shares of the company's stock worth $791,000 after buying an additional 948 shares in 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.