Roku (NASDAQ:ROKU) Insider Sells 3,410 Shares

Roku, Inc. (NASDAQ:ROKU) insider Mustafa Ozgen sold 3,410 shares of Roku stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $155.64, for a total value of $530,732.40. Following the sale, the insider directly owned 25,569 shares of the company’s stock, valued at approximately $3,979,559.16. This trade represents a 11.77% decrease in their ownership of the stock. The sale was disclosed in a filing 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.

Mustafa Ozgen also recently made the following trade(s):

• On Friday, June 12th, Mustafa Ozgen sold 10,194 shares of Roku stock. The stock was sold at an average price of $144.00, for a total value of $1,467,936.00.

Roku Trading Up 0.4%

Shares of Roku stock traded up $0.61 during trading on Thursday, hitting $158.31. 2,026,749 shares of the stock traded hands, compared to its average volume of 2,195,726. The stock’s fifty day simple moving average is $148.16 and its 200 day simple moving average is $124.48. The firm has a market cap of $23.50 billion, a P/E ratio of 67.65 and a beta of 2.05. Roku, Inc. has a 52-week low of $78.53 and a 52-week high of $159.89.

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Robert W. Baird reaffirmed a “neutral” rating and issued a $160.00 price target on shares of Roku in a research report on Monday, June 15th. Rosenblatt Securities reissued a “buy” rating and issued a $160.00 price objective on shares of Roku in a research note on Monday, August 10th. KeyCorp lowered Roku from an “overweight” rating to a “sector weight” rating in a report on Monday, June 15th. Fox Advisors set a $157.00 target price on Roku in a research report on Friday, July 17th. Finally, Citizens Jmp cut Roku from a “market outperform” rating to a “hold” rating in a research report on Tuesday, June 16th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and nineteen have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $156.17.

Institutional Trading of Roku

Institutional investors have recently modified their holdings of the company. Corient Private Wealth LP grew its position in shares of Roku by 58.7% in the 2nd quarter. Corient Private Wealth LP now owns 133,101 shares of the company’s stock worth $18,387,000 after buying an additional 49,233 shares during the last quarter. Absolute Gestao de Investimentos Ltda. bought a new position in shares of Roku during the 2nd quarter worth approximately $8,427,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Roku during the second quarter valued at approximately $4,474,000. California State Teachers Retirement System lifted its position in Roku by 13,741.7% during the second quarter. California State Teachers Retirement System now owns 20,912,738 shares of the company’s stock valued at $2,888,886,000 after acquiring an additional 20,761,653 shares during the last quarter. Finally, Readystate Asset Management LP acquired a new stake in Roku in the second quarter valued at approximately $22,373,000. 86.30% of the stock is currently 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.