Roku (NASDAQ:ROKU) Shares Down 2% After Insider Selling

Shares of Roku, Inc. (NASDAQ:ROKU) fell 2% on Thursday after an insider sold shares in the company. The company traded as low as $78.22 and last traded at $78.85. 493,078 shares changed hands during trading, a decline of 87% from the average session volume of 3,826,689 shares. The stock had previously closed at $80.48.

Specifically, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $80.27, for a total transaction of $2,006,750.00. Following the sale, the chief executive officer now owns 11,953 shares of the company’s stock, valued at approximately $959,467.31. This trade represents a 67.65% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Mai Fyfield sold 914 shares of the company’s stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $78.50, for a total transaction of $71,749.00. Following the completion of the transaction, the director now owns 4,374 shares of the company’s stock, valued at $343,359. This trade represents a 17.28% decrease in their position. The disclosure for this sale can be found here. In other Roku news, insider Charles Collier sold 7,181 shares of the stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $75.00, for a total transaction of $538,575.00. Following the completion of the transaction, the insider now owns 10,970 shares in the company, valued at approximately $822,750. This represents a 39.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Wall Street Analyst Weigh In

ROKU has been the topic of a number of recent research reports. Wells Fargo & Company dropped their target price on Roku from $129.00 to $93.00 and set an “overweight” rating on the stock in a research report on Monday, April 28th. Benchmark restated a “buy” rating and issued a $130.00 price objective on shares of Roku in a report on Friday, May 2nd. JMP Securities reiterated a “market outperform” rating and set a $95.00 price target on shares of Roku in a report on Monday, June 2nd. Piper Sandler initiated coverage on Roku in a report on Thursday, April 17th. They set a “neutral” rating and a $65.00 price target for the company. Finally, JPMorgan Chase & Co. boosted their price objective on Roku from $75.00 to $85.00 and gave the stock an “overweight” rating in a report on Tuesday, June 3rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.37.

Roku Trading Down 4.6%

The stock’s 50-day moving average price is $67.07 and its two-hundred day moving average price is $74.73. The stock has a market capitalization of $11.20 billion, a P/E ratio of -86.24 and a beta of 2.09.

Roku (NASDAQ:ROKU) last released its quarterly earnings data on Thursday, May 1st. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.08. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. Roku’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same period last year, the firm earned ($0.35) EPS. On average, equities research analysts predict that Roku, Inc. will post -0.3 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. FMR LLC boosted its holdings in Roku by 31.7% in the 4th quarter. FMR LLC now owns 19,183,942 shares of the company’s stock valued at $1,426,134,000 after purchasing an additional 4,613,570 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Roku by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 12,503,595 shares of the company’s stock worth $880,753,000 after acquiring an additional 254,504 shares during the last quarter. Marshall Wace LLP lifted its holdings in shares of Roku by 663.9% during the 4th quarter. Marshall Wace LLP now owns 2,335,813 shares of the company’s stock worth $173,644,000 after acquiring an additional 2,030,036 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Roku by 10.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,269,751 shares of the company’s stock worth $168,734,000 after acquiring an additional 215,841 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Roku by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 2,147,259 shares of the company’s stock worth $159,353,000 after acquiring an additional 56,820 shares during the last quarter. 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.