Insider Selling: Roku (NASDAQ:ROKU) Insider Sells 10,194 Shares of Stock

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

Roku Stock Up 20.1%

ROKU stock traded up $24.02 during trading on Friday, hitting $143.66. The company had a trading volume of 14,999,929 shares, compared to its average volume of 2,010,160. The firm has a market capitalization of $21.18 billion, a P/E ratio of 108.02 and a beta of 2.06. Roku, Inc. has a 52-week low of $73.91 and a 52-week high of $148.88. The company has a 50 day simple moving average of $118.73 and a 200-day simple moving average of $106.23.

Roku (NASDAQ:ROKU) last posted its quarterly earnings results on Thursday, April 30th. The company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.34 by $0.23. The company had revenue of $1.25 billion for 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 firm’s revenue was up 22.4% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.19) EPS. Sell-side analysts forecast that Roku, Inc. will post 2.41 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ROKU. Empowered Funds LLC boosted its holdings in shares of Roku by 18.6% in the 1st quarter. Empowered Funds LLC now owns 3,291 shares of the company’s stock valued at $232,000 after buying an additional 515 shares in the last quarter. Focus Partners Wealth bought a new stake in shares of Roku in the 1st quarter valued at about $229,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Roku by 145.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,394 shares of the company’s stock valued at $123,000 after buying an additional 826 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of Roku by 231.0% in the 2nd quarter. First Trust Advisors LP now owns 70,786 shares of the company’s stock valued at $6,221,000 after buying an additional 49,399 shares in the last quarter. Finally, Brown Advisory Inc. bought a new stake in shares of Roku in the 2nd quarter valued at about $326,000. Hedge funds and other institutional investors own 86.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on ROKU shares. Wedbush raised their price target on shares of Roku from $140.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday, May 1st. Morgan Stanley raised their price target on shares of Roku from $150.00 to $170.00 and gave the stock an “overweight” rating in a research note on Thursday, June 4th. Piper Sandler reissued an “overweight” rating on shares of Roku in a research report on Friday, June 5th. Evercore reissued an “outperform” rating and set a $185.00 target price on shares of Roku in a research report on Friday. Finally, Oppenheimer raised their target price on shares of Roku from $105.00 to $120.00 and gave the company an “outperform” rating in a research report on Friday, February 13th. Twenty-two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $146.96.

Trending Headlines about Roku

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.