Insider Selling: Roku (NASDAQ:ROKU) CEO Sells $2,133,900.00 in Stock

Roku, Inc. (NASDAQ:ROKU) CEO Anthony Wood sold 18,000 shares of the firm’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $118.55, for a total value of $2,133,900.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Roku Stock Up 20.1%

ROKU stock opened at $143.66 on Friday. The business has a fifty day moving average of $118.73 and a two-hundred day moving average of $106.23. The stock has a market cap of $21.18 billion, a price-to-earnings ratio of 108.02 and a beta of 2.06. Roku, Inc. has a 52-week low of $73.91 and a 52-week high of $148.88.

Roku (NASDAQ:ROKU) last released its quarterly earnings results on Thursday, April 30th. The company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.34 by $0.23. Roku had a return on equity of 7.64% and a net margin of 4.06%.The business had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same period last year, the business posted ($0.19) earnings per share. The company’s quarterly revenue was up 22.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Roku, Inc. will post 2.41 EPS for the current year.

Analysts Set New Price Targets

ROKU has been the subject of several research analyst reports. Citizens Jmp restated a “market outperform” rating and set a $170.00 price target on shares of Roku in a research report on Thursday, May 28th. Benchmark raised their price target on Roku from $130.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Piper Sandler restated an “overweight” rating on shares of Roku in a research report on Friday, June 5th. Wells Fargo & Company raised their price target on Roku from $137.00 to $167.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Finally, Jefferies Financial Group raised their price target on Roku from $135.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, April 13th. Twenty-two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $146.96.

Trending Headlines about Roku

Here are the key news stories impacting Roku this week:

• Positive Sentiment: Roku is reportedly in sale talks, including a possible media tie-up, which could signal a strategic transaction or premium valuation if a deal materializes. Roku said to be in sale talks, including likely media tie-up, Bloomberg News reports
• Positive Sentiment: Evercore ISI raised its price target to $185 from $160 and kept a bullish rating, reinforcing optimism around Roku’s monetization efforts in its home screen and advertising-tech initiatives. Roku shares jump as fresh bullish analyst notes extend recent price-target hikes
• Positive Sentiment: Additional recent price-target hikes from firms like Morgan Stanley have added to the bullish analyst narrative, suggesting Wall Street sees more upside in Roku’s ad and platform strategy. Roku shares jump as fresh bullish analyst notes extend recent price-target hikes
• Neutral Sentiment: Several media stories highlighted Roku’s expanding free channels and consumer product discounts, but these appear more promotional than material fundamental catalysts. Roku Quietly Added Four New Free Channels For The Month Of June
• Negative Sentiment: CEO Anthony Wood sold 18,000 shares in a pre-arranged trading plan, which may add some caution, although the sale was not necessarily a bearish signal. Roku (NASDAQ:ROKU) CEO Anthony Wood Sells 18,000 Shares

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Parallel Advisors LLC boosted its holdings in Roku by 27.8% in the first quarter. Parallel Advisors LLC now owns 2,426 shares of the company’s stock valued at $230,000 after purchasing an additional 528 shares during the period. Glenmede Trust Co. NA lifted its holdings in Roku by 225.1% during the 1st quarter. Glenmede Trust Co. NA now owns 245,468 shares of the company’s stock worth $23,226,000 after buying an additional 169,960 shares during the last quarter. Royal Fund Management LLC purchased a new stake in Roku during the 1st quarter worth about $365,000. Bank of America Corp DE lifted its holdings in Roku by 5.5% during the 1st quarter. Bank of America Corp DE now owns 1,082,755 shares of the company’s stock worth $102,450,000 after buying an additional 56,893 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in Roku by 1,320.4% during the 1st quarter. Janus Henderson Group PLC now owns 834,619 shares of the company’s stock worth $78,967,000 after buying an additional 775,861 shares during the last quarter. 86.30% of the stock is currently owned by hedge funds and other institutional investors.

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.