Insider Selling: Roku (NASDAQ:ROKU) Director Sells 832 Shares of Stock

Roku, Inc. (NASDAQ:ROKU) Director Mai Fyfield sold 832 shares of the firm’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $119.64, for a total transaction of $99,540.48. Following the transaction, the director directly owned 5,389 shares of the company’s stock, valued at $644,739.96. The trade was a 13.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Roku Stock Up 20.1%

Shares of ROKU stock traded up $24.02 during trading hours on Friday, hitting $143.66. 14,999,929 shares of the company’s stock traded hands, compared to its average volume of 2,010,160. The stock’s 50 day simple moving average is $118.73 and its 200 day simple moving average is $106.23. The stock has a market cap of $21.18 billion, a PE ratio of 108.02 and a beta of 2.06. Roku, Inc. has a 12 month low of $73.91 and a 12 month high of $148.88.

Roku (NASDAQ:ROKU) last released its quarterly earnings results on Thursday, April 30th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.23. The firm had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.20 billion. Roku had a net margin of 4.06% and a return on equity of 7.64%. The company’s revenue for the quarter was up 22.4% on a year-over-year basis. During the same quarter last year, the firm earned ($0.19) earnings per share. As a group, equities research analysts expect that Roku, Inc. will post 2.41 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on ROKU shares. Moffett Nathanson reaffirmed a “neutral” rating and set a $100.00 price target on shares of Roku in a research note on Friday, February 13th. Robert W. Baird increased their price objective on shares of Roku from $130.00 to $160.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Morgan Stanley increased their price objective on shares of Roku from $150.00 to $170.00 and gave the stock an “overweight” rating in a research report on Thursday, June 4th. Susquehanna increased their price objective on shares of Roku from $130.00 to $160.00 and gave the stock a “positive” rating in a research report on Friday, May 1st. Finally, Guggenheim increased their price objective on shares of Roku from $140.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday. Twenty-two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $146.96.

Institutional Investors Weigh In On Roku

A number of large investors have recently bought and sold shares of the stock. Parallel Advisors LLC grew its holdings in Roku by 27.8% in the first quarter. Parallel Advisors LLC now owns 2,426 shares of the company’s stock worth $230,000 after purchasing an additional 528 shares during the period. Glenmede Trust Co. NA grew its holdings in Roku by 225.1% in the first quarter. Glenmede Trust Co. NA now owns 245,468 shares of the company’s stock worth $23,226,000 after purchasing an additional 169,960 shares during the period. Royal Fund Management LLC acquired a new position in shares of Roku during the first quarter valued at about $365,000. Bank of America Corp DE grew its holdings in shares of Roku by 5.5% during the first quarter. Bank of America Corp DE now owns 1,082,755 shares of the company’s stock valued at $102,450,000 after buying an additional 56,893 shares during the last quarter. Finally, Janus Henderson Group PLC grew its holdings in shares of Roku by 1,320.4% during the first quarter. Janus Henderson Group PLC now owns 834,619 shares of the company’s stock valued at $78,967,000 after buying an additional 775,861 shares during the last quarter. 86.30% of the stock is currently owned by institutional investors and hedge funds.

Roku News Summary

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

Roku Company Profile

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.