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

Roku, Inc. (NASDAQ:ROKU) insider Mustafa Ozgen sold 3,410 shares of the stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $155.64, for a total transaction of $530,732.40. Following the sale, the insider 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 shares were sold at an average price of $144.00, for a total transaction of $1,467,936.00.

Roku Trading Up 0.4%

Shares of ROKU opened at $158.31 on Friday. The stock has a market capitalization of $23.50 billion, a P/E ratio of 67.65 and a beta of 2.05. The firm’s fifty day simple moving average is $148.16 and its two-hundred day simple moving average is $124.48. Roku, Inc. has a 12 month low of $78.53 and a 12 month high of $159.89.

Roku (NASDAQ:ROKU) last issued its quarterly earnings results 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 return on equity of 13.73% and a net margin of 6.82%.The firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same period last year, the business posted $0.07 EPS. The business’s revenue was up 21.9% compared to the same quarter last year. As a group, research analysts predict that Roku, Inc. will post 2.85 EPS for the current fiscal year.

Hedge Funds Weigh In On Roku

Hedge funds have recently added to or reduced their stakes in the stock. Corient Private Wealth LP raised its stake in shares of Roku by 58.7% in the second quarter. Corient Private Wealth LP now owns 133,101 shares of the company’s stock worth $18,387,000 after purchasing an additional 49,233 shares during the last quarter. Absolute Gestao de Investimentos Ltda. bought a new position in shares of Roku in the second quarter valued at approximately $8,427,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Roku during the second quarter valued at approximately $4,474,000. California State Teachers Retirement System boosted its position in shares of 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 buying an additional 20,761,653 shares during the last quarter. Finally, Readystate Asset Management LP bought a new stake in Roku during the second quarter worth $22,373,000. Institutional investors and hedge funds own 86.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ROKU. JPMorgan Chase & Co. started coverage on Roku in a report on Monday, August 24th. They issued a “neutral” rating and a $160.00 target price for the company. Wedbush cut Roku from an “outperform” rating to a “neutral” rating and set a $155.00 price target on the stock. in a report on Tuesday, June 16th. Rosenblatt Securities reaffirmed a “buy” rating and set a $160.00 price objective on shares of Roku in a research report on Monday, August 10th. Robert W. Baird reiterated a “neutral” rating and issued a $160.00 price objective on shares of Roku in a research note on Monday, June 15th. Finally, Fox Advisors set a $157.00 price objective on shares of Roku in a research note on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and nineteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, Roku has an average rating of “Hold” and a consensus price target of $156.17.

Key Roku News

Here are the key news stories impacting Roku this week:

• Positive Sentiment: Positive earnings revisions: Zacks said Roku has an improving earnings outlook and assigned the company a No. 1, “Strong Buy,” ranking. Upward EPS revisions can support investor confidence in future profitability. Bullish EPS Revisions Back IBKR, SNDK, and ROKU
• Positive Sentiment: Technical momentum improved: Roku recently moved above its 20-day moving average, a signal that short-term buying momentum may be strengthening and that the stock has found support. Roku Just Overtook the 20-Day Moving Average
• Positive Sentiment: OLED expansion draws attention: Roku launched its Pro Series OLED televisions starting at $999. The move could give Roku greater influence over premium TV products and potentially create additional hardware and platform monetization opportunities. Roku’s $999 OLED Could Change How TV Makers Make Money
• Neutral Sentiment: Retail promotion: Best Buy is offering a $200 discount on a 75-inch Roku QLED 4K television. The promotion may increase product visibility and unit sales, although the discount could pressure hardware margins. Best Buy Roku QLED TV Promotion
• Negative Sentiment: Several insiders sold shares: Executives and a director collectively sold roughly 20,800 shares worth about $3.25 million. However, the transactions were made under pre-arranged Rule 10b5-1 plans, and most were specifically intended to cover tax withholding on vested equity awards. This reduces the bearish significance, though the cluster of sales could still weigh modestly on sentiment. Roku Insider Transaction Filing

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.