Insider Selling: Roku Inc (ROKU) SVP Sells 36,000 Shares of Stock

Roku Inc (NASDAQ:ROKU) SVP Stephen H. Kay sold 36,000 shares of the firm’s stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $41.59, for a total transaction of $1,497,240.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Shares of Roku stock opened at $39.78 on Thursday. The stock has a market cap of $4.45 billion, a P/E ratio of -17.76 and a beta of 3.24. Roku Inc has a 12-month low of $29.00 and a 12-month high of $77.57.

Roku (NASDAQ:ROKU) last announced its earnings results on Wednesday, November 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.03. The business had revenue of $173.40 million during the quarter, compared to analysts’ expectations of $170.73 million. Roku had a negative net margin of 1.33% and a negative return on equity of 4.46%. The firm’s revenue for the quarter was up 38.9% on a year-over-year basis. During the same quarter last year, the company posted ($0.10) EPS. Analysts expect that Roku Inc will post -0.13 earnings per share for the current fiscal year.

A number of research firms have recently commented on ROKU. Cannonball Research raised their price objective on shares of Roku from $68.00 to $97.00 and gave the stock a “buy” rating in a report on Monday, October 1st. Our analysis of the composition of advertising revenue growth gives us incremental comfort with our revenue forecast for FY18-20. It also supports our Buy thesis based on the belief that ROKU works only if the advertising revenue story works. We think that inventory sell through which has been a relatively small revenue driver so far can become more significant in the mid-term. Royal Bank of Canada reaffirmed a “hold” rating and set a $48.00 price objective on shares of Roku in a report on Thursday, August 9th. Citigroup raised their price objective on shares of Roku from $40.00 to $50.00 and gave the stock a “neutral” rating in a report on Thursday, August 9th. Oppenheimer raised their price objective on shares of Roku from $50.00 to $59.00 and gave the stock an “outperform” rating in a report on Thursday, August 9th. Finally, BidaskClub downgraded shares of Roku from a “buy” rating to a “hold” rating in a report on Friday, October 19th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $65.61.

Several institutional investors have recently made changes to their positions in ROKU. Tower Research Capital LLC TRC acquired a new stake in shares of Roku during the 3rd quarter worth about $128,000. Stratos Wealth Partners LTD. acquired a new stake in Roku in the 3rd quarter valued at about $130,000. Patten Group Inc. increased its position in Roku by 671.5% in the 3rd quarter. Patten Group Inc. now owns 2,006 shares of the company’s stock valued at $146,000 after acquiring an additional 1,746 shares in the last quarter. SevenBridge Financial Group LLC acquired a new stake in Roku in the 2nd quarter valued at about $158,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Roku in the 3rd quarter valued at about $168,000. Institutional investors and hedge funds own 46.35% of the company’s stock.

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Roku Company Profile

Roku, Inc operates a TV streaming platform. The company operates in two segments, Player and Platform. Its platform allows users to search, discover, and access approximately 500,000 movies and TV episodes, as well as live sports, music, news, and others. As of December 31, 2017, the company had 19.3 million active accounts.

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