Roku, Inc. (NASDAQ: ROKU) Insider Sells 12,124 Shares: Analysis and Impact
A recent transaction involving Roku, Inc. (NASDAQ: ROKU) has caught the attention of investors and analysts. SVP Stephen H. Kay sold 12,124 shares of the company’s stock on June 13th at an average price of $55.59, totaling $673,973.16. Following the sale, Kay now owns 91,905 shares valued at approximately $5,108,998.95. This transaction was disclosed in a document filed with the Securities & Exchange Commission. As a result of this insider selling, Roku’s stock experienced a 1.0% decrease.
Roku’s stock traded at $53.97 on Monday with a trading volume of 3,063,184 shares. The company has a market capitalization of $7.78 billion, a price-to-earnings ratio of -13.53, and a beta of 1.92. The stock has a 1-year low of $53.20 and a high of $108.84. Roku reported earnings per share of ($0.35) for the last quarter, beating analysts’ estimates by $0.29. The company’s revenue for the quarter was $881.50 million, up 19.0% from the same period last year.
Several equity research analysts have provided their insights on Roku’s stock. Seaport Res Ptn upgraded Roku to a “buy” rating, while Jefferies Financial Group initiated coverage with an “underperform” rating. The consensus among analysts is a “Hold” rating with a target price of $82.50.
Institutional investors and hedge funds have also shown interest in Roku’s stock, with GAMMA Investing LLC, Creative Financial Designs Inc. ADV, and Quarry LP among those acquiring stakes in the company. Overall, institutional investors hold 86.30% of Roku’s stock.
Roku, Inc. operates a TV streaming platform in the US and internationally, offering users access to a variety of content. The company’s platform segment includes digital advertising and streaming services distribution. Despite recent insider selling, analysts remain cautiously optimistic about Roku’s future performance.
In conclusion, while insider selling may have initially impacted Roku’s stock price, analysts and institutional investors continue to show interest in the company. Roku’s unique position in the streaming market and its innovative platform make it a key player to watch in the coming months. Investors should consider all available information before making any decisions regarding Roku’s stock.
