Roku (NASDAQ:ROKU) Trading Down 5.4% on Insider Selling

Roku Inc (NASDAQ:ROKU) was down 5.4% during mid-day trading on Thursday following insider selling activity. The company traded as low as $87.00 and last traded at $89.75, approximately 15,203,381 shares were traded during trading. An increase of 14% from the average daily volume of 13,338,326 shares. The stock had previously closed at $94.85.

Specifically, CEO Anthony J. Wood sold 100,000 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $150.22, for a total value of $15,022,000.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $136.25, for a total value of $3,406,250.00. The disclosure for this sale can be found here. Insiders sold a total of 209,322 shares of company stock worth $28,412,660 over the last three months. 22.70% of the stock is owned by insiders.

A number of equities research analysts recently issued reports on the company. Morgan Stanley cut Roku from an “equal weight” rating to an “underweight” rating and set a $110.00 price objective on the stock. in a research note on Monday, December 2nd. ValuEngine upgraded Roku from a “strong sell” rating to a “sell” rating in a research report on Thursday, February 6th. Wedbush reiterated a “hold” rating and set a $86.00 price target on shares of Roku in a research report on Monday. Royal Bank of Canada reiterated a “buy” rating and set a $170.00 price target on shares of Roku in a research report on Wednesday, March 4th. Finally, Loop Capital upgraded Roku from a “sell” rating to a “hold” rating and set a $68.00 price target on the stock in a research report on Thursday, March 19th. Six investment analysts have rated the stock with a sell rating, three have given a hold rating and fifteen have given a buy rating to the stock. Roku has an average rating of “Hold” and a consensus price target of $129.43.

The firm has a market cap of $11.66 billion, a PE ratio of -172.60 and a beta of 1.64. The company has a 50 day simple moving average of $107.28 and a 200-day simple moving average of $128.15. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.58 and a quick ratio of 2.44.

Roku (NASDAQ:ROKU) last issued its earnings results on Thursday, February 13th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.14) by $0.01. The business had revenue of $411.23 million during the quarter, compared to analyst estimates of $392.43 million. Roku had a negative return on equity of 12.09% and a negative net margin of 5.31%. On average, sell-side analysts predict that Roku Inc will post -1.21 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Utah Retirement Systems boosted its stake in Roku by 0.6% in the fourth quarter. Utah Retirement Systems now owns 16,300 shares of the company’s stock worth $2,183,000 after buying an additional 100 shares in the last quarter. Parkwood LLC boosted its stake in shares of Roku by 1.2% during the fourth quarter. Parkwood LLC now owns 8,489 shares of the company’s stock valued at $1,137,000 after purchasing an additional 101 shares during the period. Traynor Capital Management Inc. boosted its stake in shares of Roku by 7.6% during the fourth quarter. Traynor Capital Management Inc. now owns 2,313 shares of the company’s stock valued at $309,000 after purchasing an additional 164 shares during the period. Moneta Group Investment Advisors LLC purchased a new stake in shares of Roku during the fourth quarter valued at approximately $25,000. Finally, Piedmont Investment Advisors Inc. boosted its stake in shares of Roku by 3.1% during the fourth quarter. Piedmont Investment Advisors Inc. now owns 6,458 shares of the company’s stock valued at $865,000 after purchasing an additional 197 shares during the period. 55.69% of the stock is owned by institutional investors and hedge funds.

Roku Company Profile (NASDAQ:ROKU)

Roku, Inc operates a TV streaming platform. The company operates in two segments, Platform and Player. Its platform allows users to discover and access various movies and TV episodes, as well as live sports, music, news, and others. As of December 31, 2018, the company had 27.1 million active accounts.

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