Roku (NASDAQ:ROKU) Insider Gilbert Fuchsberg Sells 4,824 Shares of Stock

Roku, Inc. (NASDAQ:ROKU) insider Gilbert Fuchsberg sold 4,824 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $155.64, for a total transaction of $750,807.36. Following the completion of the transaction, the insider directly owned 40,168 shares of the company’s stock, valued at approximately $6,251,747.52. This represents a 10.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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.

Gilbert Fuchsberg also recently made the following trade(s):

• On Thursday, August 6th, Gilbert Fuchsberg sold 10,719 shares of Roku stock. The stock was sold at an average price of $150.00, for a total transaction of $1,607,850.00.

Roku Stock Performance

ROKU stock opened at $158.31 on Friday. The stock has a market capitalization of $23.50 billion, a P/E ratio of 67.65 and a beta of 2.05. Roku, Inc. has a one year low of $78.53 and a one year high of $159.89. The company has a 50 day moving average price of $148.16 and a two-hundred day moving average price of $124.48.

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

Analyst Ratings Changes

Several analysts have commented on the company. Citigroup lifted their price target on Roku from $120.00 to $157.00 and gave the company a “neutral” rating in a report on Friday, July 17th. JPMorgan Chase & Co. began coverage on shares of Roku in a report on Monday, August 24th. They set a “neutral” rating and a $160.00 price objective on the stock. Guggenheim cut shares of Roku from a “buy” rating to a “neutral” rating and raised their target price for the stock from $145.00 to $160.00 in a research report on Friday, August 7th. Oppenheimer downgraded shares of Roku from an “outperform” rating to a “market perform” rating in a report on Monday, June 15th. Finally, Needham & Company LLC reaffirmed a “buy” rating on shares of Roku in a research report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and nineteen have assigned a Hold rating to the company. According to data from MarketBeat, Roku presently has an average rating of “Hold” and an average price target of $156.17.

Institutional Investors Weigh In On Roku

Institutional investors and hedge funds have recently modified their holdings of the stock. Jefferies Financial Group Inc. purchased a new position in Roku in the 4th quarter valued at about $1,345,000. Moran Wealth Management LLC purchased a new stake in shares of Roku during the first quarter worth about $2,990,000. Bank of New York Mellon Corp acquired a new position in shares of Roku in the second quarter worth about $105,216,000. Contravisory Investment Management Inc. acquired a new position in shares of Roku in the second quarter worth about $1,184,000. Finally, California Public Employees Retirement System lifted its stake in shares of Roku by 14.8% in the first quarter. California Public Employees Retirement System now owns 260,774 shares of the company’s stock worth $24,674,000 after acquiring an additional 33,593 shares in the last quarter. Hedge funds and other institutional investors own 86.30% of the company’s stock.

Key Stories 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.