Roku (NASDAQ:ROKU) Director Neil Hunt Sells 2,000 Shares of Stock

Roku, Inc. (NASDAQ:ROKU) Director Neil Hunt sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $156.30, for a total value of $312,600.00. Following the completion of the transaction, the director directly owned 9,629 shares in the company, valued at approximately $1,505,012.70. The trade was a 17.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Roku Trading Up 0.4%

Roku stock opened at $158.31 on Friday. Roku, Inc. has a 52 week low of $78.53 and a 52 week high of $159.89. The stock has a market cap of $23.50 billion, a P/E ratio of 67.65 and a beta of 2.05. The stock has a 50 day moving average of $148.16 and a 200-day moving average of $124.48.

Roku (NASDAQ:ROKU) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.47. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.30 billion. Roku had a net margin of 6.82% and a return on equity of 13.73%. The business’s revenue was up 21.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.07 earnings per share. As a group, equities analysts predict that Roku, Inc. will post 2.85 earnings per share for the current fiscal year.

Institutional Trading of Roku

Large investors have recently modified their holdings of the company. Bayban increased its stake in shares of Roku by 1,300.0% in the first quarter. Bayban now owns 280 shares of the company’s stock valued at $26,000 after purchasing an additional 260 shares during the period. Safe Harbor Fiduciary LLC bought a new stake in shares of Roku in the 4th quarter worth $31,000. Elevation Wealth Partners LLC raised its position in Roku by 208.7% in the second quarter. Elevation Wealth Partners LLC now owns 318 shares of the company’s stock worth $44,000 after acquiring an additional 215 shares in the last quarter. Osbon Capital Management LLC acquired a new stake in Roku during the fourth quarter valued at approximately $45,000. Finally, Rakuten Securities Inc. lifted its position in shares of Roku by 55.6% during the 2nd quarter. Rakuten Securities Inc. now owns 442 shares of the company’s stock valued at $39,000 after acquiring an additional 158 shares during the last quarter. Institutional investors and hedge funds own 86.30% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on ROKU. Needham & Company LLC reissued a “buy” rating on shares of Roku in a research report on Friday, August 7th. William Blair downgraded Roku from an “outperform” rating to a “market perform” rating in a research note on Monday, June 15th. Guggenheim lowered Roku from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $145.00 to $160.00 in a report on Friday, August 7th. Wedbush cut Roku from an “outperform” rating to a “neutral” rating and set a $155.00 price objective on the stock. in a research note on Tuesday, June 16th. Finally, Citigroup increased their target price on Roku from $120.00 to $157.00 and gave the stock a “neutral” rating in a report on Friday, July 17th. One equities 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 stock currently has an average rating of “Hold” and a consensus price target of $156.17.

Key Headlines Impacting Roku

Here are the key news stories impacting Roku this week:

• Positive Sentiment: Positive earnings revisions: Zacks said Roku has an improving earnings outlook and assigned the company a No. 1, “Strong Buy,” ranking. Upward EPS revisions can support investor confidence in future profitability. Bullish EPS Revisions Back IBKR, SNDK, and ROKU
• Positive Sentiment: Technical momentum improved: Roku recently moved above its 20-day moving average, a signal that short-term buying momentum may be strengthening and that the stock has found support. Roku Just Overtook the 20-Day Moving Average
• Positive Sentiment: OLED expansion draws attention: Roku launched its Pro Series OLED televisions starting at $999. The move could give Roku greater influence over premium TV products and potentially create additional hardware and platform monetization opportunities. Roku’s $999 OLED Could Change How TV Makers Make Money
• Neutral Sentiment: Retail promotion: Best Buy is offering a $200 discount on a 75-inch Roku QLED 4K television. The promotion may increase product visibility and unit sales, although the discount could pressure hardware margins. Best Buy Roku QLED TV Promotion
• Negative Sentiment: Several insiders sold shares: Executives and a director collectively sold roughly 20,800 shares worth about $3.25 million. However, the transactions were made under pre-arranged Rule 10b5-1 plans, and most were specifically intended to cover tax withholding on vested equity awards. This reduces the bearish significance, though the cluster of sales could still weigh modestly on sentiment. Roku Insider Transaction Filing

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.