Roku (NASDAQ:ROKU) CAO Sells $69,483.96 in Stock

Roku, Inc. (NASDAQ:ROKU) CAO Matthew Banks sold 546 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $127.26, for a total transaction of $69,483.96. Following the completion of the sale, the chief accounting officer owned 7,725 shares of the company’s stock, valued at approximately $983,083.50. This represents a 6.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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.

Roku Trading Down 2.7%

ROKU stock opened at $122.26 on Friday. The stock has a 50-day moving average price of $115.32 and a two-hundred day moving average price of $105.15. The stock has a market cap of $18.02 billion, a PE ratio of 91.93 and a beta of 2.06. Roku, Inc. has a 1 year low of $73.91 and a 1 year high of $133.46.

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

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ROKU. Robert W. Baird increased their target price on Roku from $130.00 to $160.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. Moffett Nathanson reiterated a “neutral” rating and set a $100.00 target price on shares of Roku in a report on Friday, February 13th. Guggenheim increased their target price on Roku from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Morgan Stanley increased their target price on Roku from $150.00 to $170.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Needham & Company LLC increased their target price on Roku from $110.00 to $140.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Twenty-two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $145.29.

More Roku News

Here are the key news stories impacting Roku this week:

• Positive Sentiment: Roku continues to expand its free ad-supported streaming lineup, adding new channels including Sports Illustrated and FIFA Plus, plus four more free channels in June. That supports engagement on The Roku Channel and could improve ad inventory and viewing time. Article Title
• Positive Sentiment: The company also launched a $25 bundle pairing the Streaming Stick Plus with Fox One, which may help drive device sales and keep Roku’s ecosystem competitive. Article Title
• Positive Sentiment: Roku has been benefiting from a bullish narrative around its growing household reach and stronger live-sports positioning, which investors may see as supportive of future ad and platform revenue. Article Title

Hedge Funds Weigh In On Roku

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew 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 valued at $1,301,557,000 after acquiring an additional 322,858 shares in the last quarter. AQR Capital Management LLC grew 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 valued at $310,298,000 after acquiring an additional 274,024 shares in the last quarter. Geode Capital Management LLC grew 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 valued at $267,389,000 after acquiring an additional 168,214 shares in the last quarter. Arrowstreet Capital Limited Partnership grew 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 valued at $192,868,000 after acquiring an additional 1,419,772 shares in the last quarter. Finally, Holocene Advisors LP grew 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 valued at $165,259,000 after acquiring an additional 1,285,585 shares in the last quarter. Institutional investors own 86.30% of the company’s stock.

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.