Insider Selling: Roku (NASDAQ:ROKU) CEO Sells $3,250,000.00 in Stock

Roku, Inc. (NASDAQ:ROKU) CEO Anthony Wood sold 25,000 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $130.00, for a total value of $3,250,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Roku Stock Performance

Shares of NASDAQ:ROKU opened at $143.66 on Monday. The stock has a market capitalization of $21.18 billion, a P/E ratio of 108.02 and a beta of 2.06. Roku, Inc. has a 1-year low of $73.91 and a 1-year high of $148.88. The business has a 50-day moving average price of $118.73 and a two-hundred day moving average price of $106.32.

Roku (NASDAQ:ROKU) last announced its quarterly earnings data on Thursday, April 30th. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.23. The firm had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Roku had a return on equity of 7.64% and a net margin of 4.06%.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 business posted ($0.19) EPS. As a group, equities analysts predict that Roku, Inc. will post 2.41 EPS for the current year.

Roku News Roundup

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

Analyst Ratings Changes

ROKU has been the subject of several recent research reports. Pivotal Research reissued a “buy” rating and set a $160.00 price objective (up from $140.00) on shares of Roku in a report on Friday, May 1st. Guggenheim boosted their price objective on Roku from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, June 9th. Piper Sandler reissued an “overweight” rating on shares of Roku in a report on Friday, June 5th. Needham & Company LLC boosted their price objective on Roku from $110.00 to $140.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Finally, Stifel Nicolaus set a $160.00 price objective on Roku in a report on Monday, March 2nd. 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, the company presently has an average rating of “Moderate Buy” and an average price target of $146.96.

Institutional Trading of Roku

A number of institutional investors and hedge funds have recently modified their holdings of ROKU. Blue Trust Inc. increased its stake in shares of Roku by 680.0% in the 4th quarter. Blue Trust Inc. now owns 234 shares of the company’s stock valued at $25,000 after acquiring an additional 204 shares during the last quarter. Aventura Private Wealth LLC bought a new stake in shares of Roku in the 4th quarter valued at about $26,000. Bayban increased its stake in shares of Roku by 1,300.0% in the 1st quarter. Bayban now owns 280 shares of the company’s stock valued at $26,000 after acquiring an additional 260 shares during the last quarter. WPG Advisers LLC bought a new stake in shares of Roku in the 4th quarter valued at about $31,000. Finally, Safe Harbor Fiduciary LLC bought a new stake in shares of Roku in the 4th quarter valued at about $31,000. 86.30% of the stock is owned by 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.