Insider Selling: Roku, Inc. (NASDAQ:ROKU) SVP Sells $673,973.16 in Stock

Roku, Inc. (NASDAQ:ROKU) SVP Stephen H. Kay sold 12,124 shares of the business’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $55.59, for a total transaction of $673,973.16. Following the completion of the sale, the senior vice president now directly owns 91,905 shares of the company’s stock, valued at $5,108,998.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Roku Trading Down 2.7 %

Shares of NASDAQ ROKU opened at $52.53 on Thursday. Roku, Inc. has a 1 year low of $52.50 and a 1 year high of $108.84. The company’s 50-day moving average is $58.31 and its 200 day moving average is $72.85.

Roku (NASDAQ:ROKU) last announced its quarterly earnings results on Thursday, April 25th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.64) by $0.29. Roku had a negative net margin of 15.64% and a negative return on equity of 23.81%. The company had revenue of $881.50 million for the quarter, compared to analysts’ expectations of $843.54 million. During the same quarter in the previous year, the company earned ($1.38) earnings per share. Roku’s quarterly revenue was up 19.0% on a year-over-year basis. On average, research analysts anticipate that Roku, Inc. will post -1.94 EPS for the current fiscal year.

Analysts Set New Price Targets

ROKU has been the subject of several recent research reports. Benchmark lowered their price target on shares of Roku from $115.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, April 26th. Rosenblatt Securities reissued a “neutral” rating and issued a $89.00 price target on shares of Roku in a research note on Friday, April 26th. Seaport Res Ptn raised shares of Roku from a “neutral” rating to a “buy” rating in a research note on Monday, April 29th. Morgan Stanley decreased their price objective on shares of Roku from $65.00 to $60.00 and set an “underweight” rating on the stock in a research report on Friday, April 5th. Finally, Citigroup decreased their price objective on shares of Roku from $75.00 to $70.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 30th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Roku presently has a consensus rating of “Hold” and an average price target of $82.50.

Institutional Investors Weigh In On Roku

A number of hedge funds and other institutional investors have recently bought and sold shares of ROKU. GAMMA Investing LLC purchased a new stake in Roku in the fourth quarter worth about $27,000. Creative Financial Designs Inc. ADV purchased a new stake in Roku in the fourth quarter worth about $29,000. Federated Hermes Inc. purchased a new stake in Roku in the third quarter worth about $37,000. Quarry LP grew its holdings in Roku by 160.2% in the fourth quarter. Quarry LP now owns 432 shares of the company’s stock worth $40,000 after purchasing an additional 266 shares during the period. Finally, Benjamin Edwards Inc. grew its holdings in Roku by 43.5% in the first quarter. Benjamin Edwards Inc. now owns 617 shares of the company’s stock worth $40,000 after purchasing an additional 187 shares during the period. Hedge funds and other institutional investors own 86.30% of the company’s stock.

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.