Christopher Handman Sells 2,999 Shares of Roku (NASDAQ:ROKU) Stock

Roku, Inc. (NASDAQ:ROKU) SVP Christopher Handman sold 2,999 shares of Roku stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $155.64, for a total value of $466,764.36. Following the completion of the sale, the senior vice president directly owned 8,997 shares of the company’s stock, valued at $1,400,293.08. The trade was a 25.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Roku Trading Up 0.4%

ROKU stock traded up $0.61 during trading on Thursday, reaching $158.31. The stock had a trading volume of 2,026,749 shares, compared to its average volume of 2,195,726. Roku, Inc. has a 52 week low of $78.53 and a 52 week high of $159.89. The stock’s 50 day moving average is $148.16 and its two-hundred day moving average is $124.48. The firm has a market cap of $23.50 billion, a PE ratio of 67.65 and a beta of 2.05.

Roku (NASDAQ:ROKU) last released its quarterly earnings results on Wednesday, August 5th. The company reported $1.08 EPS for the quarter, beating the consensus estimate of $0.61 by $0.47. Roku had a net margin of 6.82% and a return on equity of 13.73%. The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same quarter in the prior year, the firm earned $0.07 EPS. The business’s revenue for the quarter was up 21.9% compared to the same quarter last year. On average, research analysts anticipate that Roku, Inc. will post 2.85 EPS for the current year.

Wall Street Analyst Weigh In

ROKU has been the subject of a number of recent research reports. Seaport Research Partners downgraded shares of Roku from a “buy” rating to a “neutral” rating in a research report on Friday, August 7th. Zacks Research raised Roku from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 11th. Oppenheimer cut Roku from an “outperform” rating to a “market perform” rating in a research report on Monday, June 15th. JPMorgan Chase & Co. assumed coverage on Roku in a research note on Monday, August 24th. They issued a “neutral” rating and a $160.00 price objective on the stock. Finally, Wolfe Research cut Roku from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, June 16th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and nineteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $156.17.

Institutional Trading of Roku

Institutional investors have recently made changes to their positions in the business. Raleigh Capital Management Inc. lifted its holdings in Roku by 6.5% in the 1st quarter. Raleigh Capital Management Inc. now owns 1,522 shares of the company’s stock worth $144,000 after purchasing an additional 93 shares in the last quarter. Quantum Portfolio Management LLC lifted its holdings in shares of Roku by 2.6% in the first quarter. Quantum Portfolio Management LLC now owns 4,135 shares of the company’s stock worth $391,000 after buying an additional 105 shares in the last quarter. HB Wealth Management LLC boosted its position in shares of Roku by 3.7% during the first quarter. HB Wealth Management LLC now owns 3,447 shares of the company’s stock worth $326,000 after acquiring an additional 122 shares during the last quarter. Quarry LP grew its stake in Roku by 21.7% during the fourth quarter. Quarry LP now owns 689 shares of the company’s stock valued at $75,000 after acquiring an additional 123 shares in the last quarter. Finally, Swiss Life Asset Management Ltd raised its position in Roku by 2.2% during the fourth quarter. Swiss Life Asset Management Ltd now owns 5,969 shares of the company’s stock valued at $648,000 after purchasing an additional 127 shares during the period. 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.