Insider Selling: Roku (NASDAQ:ROKU) Insider Sells $1,467,936.00 in Stock

Roku, Inc. (NASDAQ:ROKU) insider Mustafa Ozgen sold 10,194 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $144.00, for a total value of $1,467,936.00. Following the transaction, the insider directly owned 19,185 shares of the company’s stock, valued at $2,762,640. This represents a 34.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Roku Stock Performance

NASDAQ ROKU opened at $143.66 on Monday. Roku, Inc. has a twelve month low of $73.91 and a twelve month high of $148.88. The stock has a market capitalization of $21.18 billion, a PE ratio of 108.02 and a beta of 2.06. The stock has a 50-day simple moving average of $118.73 and a 200 day simple moving average of $106.32.

Roku (NASDAQ:ROKU) last posted 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. 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 analysts’ expectations of $1.20 billion. During the same quarter in the previous year, the firm earned ($0.19) EPS. The firm’s revenue was up 22.4% compared to the same quarter last year. As a group, equities research analysts forecast that Roku, Inc. will post 2.41 EPS for the current fiscal year.

Hedge Funds Weigh In On Roku

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Roku by 2.5% in the 3rd quarter. Vanguard Group Inc. now owns 12,998,674 shares of the company’s stock worth $1,301,557,000 after buying an additional 322,858 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Roku by 10.6% in the 4th quarter. AQR Capital Management LLC now owns 2,860,149 shares of the company’s stock worth $310,298,000 after buying an additional 274,024 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Roku by 7.3% in the 4th quarter. Geode Capital Management LLC now owns 2,464,130 shares of the company’s stock worth $267,389,000 after buying an additional 168,214 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Roku by 229.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,038,347 shares of the company’s stock worth $192,868,000 after buying an additional 1,419,772 shares in the last quarter. Finally, Holocene Advisors LP raised its holdings in shares of Roku by 352.3% in the 3rd quarter. Holocene Advisors LP now owns 1,650,448 shares of the company’s stock worth $165,259,000 after buying an additional 1,285,585 shares in the last quarter. 86.30% of the stock is owned by institutional investors and hedge funds.

Key Roku News

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

A number of equities research analysts recently weighed in on ROKU shares. Morgan Stanley lifted their target price on Roku from $150.00 to $170.00 and gave the stock an “overweight” rating in a research report on Thursday, June 4th. Pivotal Research reissued a “buy” rating and set a $160.00 target price (up from $140.00) on shares of Roku in a research report on Friday, May 1st. Weiss Ratings reissued a “hold (c-)” rating on shares of Roku in a research report on Friday, May 15th. KeyCorp lifted their target price on Roku from $140.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Finally, Piper Sandler reissued an “overweight” rating on shares of Roku in a research report on Friday, June 5th. Twenty-two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Roku has an average rating of “Moderate Buy” and an average target price of $146.96.

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.