Insider Selling: Roku (NASDAQ:ROKU) Director Sells $258,180.00 in Stock

Roku, Inc. (NASDAQ:ROKU) Director Neil Hunt sold 2,000 shares of Roku stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $129.09, for a total transaction of $258,180.00. Following the transaction, the director directly owned 7,782 shares in the company, valued at $1,004,578.38. This trade represents a 20.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Roku Stock Performance

Shares of Roku stock opened at $122.26 on Friday. Roku, Inc. has a 52-week low of $73.91 and a 52-week high of $133.46. The stock has a market capitalization of $18.02 billion, a price-to-earnings ratio of 91.93 and a beta of 2.06. The company’s 50 day moving average price is $115.32 and its 200-day moving average price is $105.15.

Roku (NASDAQ:ROKU) last issued its quarterly earnings data on Thursday, April 30th. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.23. The business had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.20 billion. Roku had a net margin of 4.06% and a return on equity of 7.64%. The company’s quarterly revenue was up 22.4% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.19) EPS. As a group, equities research analysts forecast that Roku, Inc. will post 2.41 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently commented on ROKU shares. KeyCorp boosted their target price on shares of Roku from $140.00 to $150.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Weiss Ratings restated a “hold (c-)” rating on shares of Roku in a report on Friday, May 15th. Needham & Company LLC lifted their price target on Roku from $110.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Citizens Jmp reiterated a “market outperform” rating and issued a $170.00 price target on shares of Roku in a research note on Thursday, May 28th. Finally, Pivotal Research reiterated a “buy” rating and issued a $160.00 price target (up from $140.00) on shares of Roku in a research note on Friday, May 1st. Twenty-two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Roku presently has a consensus rating of “Moderate Buy” and a consensus price target of $145.29.

Roku News Summary

Here are the key news stories impacting Roku this week:

• Positive Sentiment: Roku continues to expand its free ad-supported streaming lineup, adding new channels including Sports Illustrated and FIFA Plus, plus four more free channels in June. That supports engagement on The Roku Channel and could improve ad inventory and viewing time. Article Title
• Positive Sentiment: The company also launched a $25 bundle pairing the Streaming Stick Plus with Fox One, which may help drive device sales and keep Roku’s ecosystem competitive. Article Title
• Positive Sentiment: Roku has been benefiting from a bullish narrative around its growing household reach and stronger live-sports positioning, which investors may see as supportive of future ad and platform revenue. Article Title

Hedge Funds Weigh In On Roku

A number of hedge funds have recently bought and sold shares of the business. AGF Management Ltd. purchased a new stake in shares of Roku during the 3rd quarter valued at about $15,023,000. Jefferies Financial Group Inc. purchased a new stake in shares of Roku during the 4th quarter valued at about $1,345,000. Holocene Advisors LP increased its position in shares of Roku by 352.3% during the 3rd quarter. Holocene Advisors LP now owns 1,650,448 shares of the company’s stock valued at $165,259,000 after purchasing an additional 1,285,585 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new stake in shares of Roku during the 3rd quarter valued at about $2,997,000. Finally, MH & Associates Securities Management Corp ADV bought a new position in shares of Roku during the 4th quarter valued at approximately $2,398,000. Hedge funds and other institutional investors own 86.30% of the company’s stock.

About Roku

Roku, Inc (NASDAQ: ROKU) is a technology company that develops and operates a proprietary streaming platform designed to deliver entertainment content to consumers via internet-connected devices and smart televisions. Since its inception in 2002 in California, Roku has focused on simplifying access to streaming services for viewers worldwide. The company’s platform enables users to discover, access and manage a wide array of over-the-top content from major streaming services, free ad-supported channels and niche providers.

At the core of Roku’s product lineup are a range of streaming players and sticks, which connect to televisions via HDMI and deliver the Roku OS experience.