Roku, Inc. (NASDAQ:ROKUGet Free Report) fell 1.8% during trading on Monday following insider selling activity. The company traded as low as $77.01 and last traded at $77.75. 565,804 shares changed hands during trading, a decline of 81% from the average session volume of 2,904,740 shares. The stock had previously closed at $79.19.

Specifically, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $79.77, for a total value of $1,994,250.00. Following the completion of the sale, the chief executive officer now owns 26,538 shares of the company’s stock, valued at $2,116,936.26. This trade represents a 48.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Wall Street Analysts Forecast Growth

ROKU has been the subject of several analyst reports. Bank of America upped their target price on shares of Roku from $75.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Jefferies Financial Group decreased their price objective on shares of Roku from $60.00 to $55.00 and set an “underperform” rating for the company in a research report on Friday, November 1st. Wedbush reaffirmed an “outperform” rating and set a $100.00 target price on shares of Roku in a research report on Wednesday, January 8th. UBS Group began coverage on Roku in a report on Friday, November 22nd. They issued a “neutral” rating and a $73.00 price target for the company. Finally, Robert W. Baird upgraded Roku from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $70.00 to $90.00 in a report on Monday, November 18th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Roku presently has an average rating of “Hold” and a consensus target price of $82.62.

Check Out Our Latest Analysis on Roku

Roku Price Performance

The stock’s fifty day simple moving average is $76.55 and its 200-day simple moving average is $70.49. The stock has a market cap of $11.11 billion, a P/E ratio of -63.77 and a beta of 2.05.

Roku (NASDAQ:ROKUGet Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.35) by $0.29. The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the business posted ($2.33) EPS. Analysts forecast that Roku, Inc. will post -1.1 EPS for the current year.

Hedge Funds Weigh In On Roku

Hedge funds and other institutional investors have recently modified their holdings of the company. GS Investments Inc. boosted its holdings in shares of Roku by 33.4% in the third quarter. GS Investments Inc. now owns 587 shares of the company’s stock valued at $44,000 after acquiring an additional 147 shares in the last quarter. PFG Investments LLC raised its holdings in Roku by 3.7% during the third quarter. PFG Investments LLC now owns 4,157 shares of the company’s stock worth $310,000 after purchasing an additional 150 shares in the last quarter. True Vision MN LLC lifted its position in Roku by 3.1% in the third quarter. True Vision MN LLC now owns 5,018 shares of the company’s stock worth $375,000 after purchasing an additional 152 shares during the period. Sequoia Financial Advisors LLC boosted its stake in Roku by 4.5% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 4,721 shares of the company’s stock valued at $352,000 after purchasing an additional 202 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Roku by 11.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,207 shares of the company’s stock valued at $165,000 after purchasing an additional 222 shares during the period. Institutional investors and hedge funds own 86.30% of the company’s stock.

About Roku

(Get Free Report)

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.

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