Roku (NASDAQ:ROKU) Director Sells $302,180.00 in Stock

Roku, Inc. (NASDAQ:ROKU) Director Neil Hunt sold 2,000 shares of Roku stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $151.09, for a total value of $302,180.00. Following the transaction, the director directly owned 9,629 shares in the company, valued at approximately $1,454,845.61. This trade represents a 17.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Roku Price Performance

NASDAQ ROKU opened at $152.73 on Thursday. The firm has a market capitalization of $22.67 billion, a price-to-earnings ratio of 65.27 and a beta of 2.05. The company has a 50 day simple moving average of $153.97 and a 200-day simple moving average of $134.55. Roku, Inc. has a 52-week low of $78.53 and a 52-week high of $159.89.

Roku (NASDAQ:ROKU) last announced its quarterly earnings data on Thursday, August 6th. The company reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.47. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.30 billion. Roku had a net margin of 6.82% and a return on equity of 13.73%. The firm’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 earnings per share. On average, analysts predict that Roku, Inc. will post 2.92 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ROKU. Wells Fargo & Company reissued an “equal weight” rating and set a $165.00 price objective (down from $167.00) on shares of Roku in a research report on Friday, August 14th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $160.00 target price on shares of Roku in a research report on Monday, August 10th. UBS Group raised their price target on Roku from $126.00 to $172.00 and gave the stock a “neutral” rating in a research note on Friday, August 7th. Robert W. Baird reiterated a “neutral” rating and set a $160.00 price target on shares of Roku in a report on Monday, June 15th. Finally, Needham & Company LLC reissued a “buy” rating on shares of Roku in a research note on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and nineteen have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $156.17.

Key Roku News

Here are the key news stories impacting Roku this week:

• Positive Sentiment: Expanded content lineup: Roku added three free live channels to its platform, which could support user engagement, viewing hours and the company’s advertising business. Roku just added 3 free live channels to its lineup
• Positive Sentiment: New original programming: Actress Lucy Hale will headline Scarlett Holmes, a Roku limited series. Additional exclusive content may help The Roku Channel attract viewers and advertisers. Lucy Hale to headline Scarlett Holmes at Roku
• Positive Sentiment: Constructive analyst and investor attention: Zacks highlighted Roku among growth stocks for the fourth quarter, citing streaming growth, while another Zacks report noted increased investor interest. These reports could reinforce bullish sentiment, although they do not represent new company guidance. Buy five growth stocks for Q4
• Positive Sentiment: Advertising and strategic-growth thesis: Commentary argues that Roku’s advertising business and the reported Fox acquisition could improve its position in the connected-TV market. This is an investment thesis rather than a new confirmed operating result. Fox acquisition boosts Roku growth prospects
• Neutral Sentiment: Prime Day promotions: Roku OLED televisions are discounted by as much as $400, with a 65-inch model offered at $799.99. Lower prices may stimulate device adoption, but promotions could pressure hardware margins. Roku OLED TV Prime Day deals
• Negative Sentiment: Insider selling: Executive Charles Collier sold 20,538 shares worth approximately $3.1 million, while Chief Accounting Officer Matthew Banks sold 554 shares worth about $84,000. Both transactions were made under pre-arranged Rule 10b5-1 plans, reducing their value as signals of deteriorating business prospects, but the sales may weigh modestly on sentiment. Roku insider selling

Hedge Funds Weigh In On Roku

Several hedge funds have recently bought and sold shares of the business. Arrowstreet Capital Limited Partnership boosted its stake in Roku by 229.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,038,347 shares of the company’s stock valued at $192,868,000 after purchasing an additional 1,419,772 shares during the period. Fred Alger Management LLC lifted its holdings in shares of Roku by 7,087.7% during the fourth quarter. Fred Alger Management LLC now owns 1,421,440 shares of the company’s stock worth $154,212,000 after buying an additional 1,401,664 shares during the last quarter. HBK Investments L P acquired a new position in shares of Roku during the second quarter worth approximately $163,604,000. Janus Henderson Group PLC boosted its position in shares of Roku by 1,320.4% in the first quarter. Janus Henderson Group PLC now owns 834,619 shares of the company’s stock valued at $78,967,000 after acquiring an additional 775,861 shares during the period. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Roku in the second quarter worth $105,216,000. 86.30% of the stock is owned by institutional investors and hedge funds.

Roku Company Profile

Roku, Inc develops and operates a television streaming platform that connects consumers with digital entertainment. Its platform enables users to access streaming services, live television, movies, music and other content through Roku devices and Roku-powered televisions.

The company offers Roku streaming players, Roku-branded televisions and the Roku operating system, which it licenses to television manufacturers. Roku also operates The Roku Channel, an ad-supported streaming service offering movies, television programs, news, live channels and other content.