Insider Selling: Roku (NASDAQ:ROKU) Insider Sells $899,346.42 in Stock

Roku, Inc. (NASDAQ:ROKU) insider Charles Collier sold 7,067 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $127.26, for a total transaction of $899,346.42. Following the completion of the sale, the insider directly owned 15,200 shares in the company, valued at approximately $1,934,352. The trade was a 31.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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.

Charles Collier also recently made the following trade(s):

• On Monday, May 4th, Charles Collier sold 20,538 shares of Roku stock. The shares were sold at an average price of $124.23, for a total transaction of $2,551,435.74.
• On Friday, April 17th, Charles Collier sold 205,807 shares of Roku stock. The shares were sold at an average price of $115.00, for a total transaction of $23,667,805.00.
• On Thursday, April 16th, Charles Collier sold 3,431 shares of Roku stock. The shares were sold at an average price of $110.17, for a total transaction of $377,993.27.
• On Wednesday, April 8th, Charles Collier sold 205,821 shares of Roku stock. The shares were sold at an average price of $105.00, for a total transaction of $21,611,205.00.
• On Thursday, March 5th, Charles Collier sold 1,715 shares of Roku stock. The shares were sold at an average price of $100.00, for a total transaction of $171,500.00.

Roku Stock Down 2.7%

NASDAQ ROKU opened at $122.26 on Friday. The stock has a market cap of $18.02 billion, a P/E ratio of 91.93 and a beta of 2.06. The company’s 50-day simple moving average is $115.32 and its 200 day simple moving average is $105.15. Roku, Inc. has a twelve month low of $73.91 and a twelve month high of $133.46.

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

Institutional Trading of Roku

Several large investors have recently added to or reduced their stakes in ROKU. AQR Capital Management LLC grew its stake in Roku by 275.5% during the third quarter. AQR Capital Management LLC now owns 2,586,125 shares of the company’s stock worth $258,897,000 after buying an additional 1,897,407 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Roku by 229.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,038,347 shares of the company’s stock worth $192,868,000 after purchasing an additional 1,419,772 shares in the last quarter. Fred Alger Management LLC lifted its position 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 purchasing an additional 1,401,664 shares in the last quarter. Holocene Advisors LP lifted its position in shares of Roku by 352.3% during the third quarter. Holocene Advisors LP now owns 1,650,448 shares of the company’s stock worth $165,259,000 after purchasing an additional 1,285,585 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Roku during the fourth quarter worth approximately $92,808,000. 86.30% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ROKU shares. Susquehanna upped their target price on shares of Roku from $130.00 to $160.00 and gave the company a “positive” rating in a research note on Friday, May 1st. KeyCorp upped their price objective on shares of Roku from $140.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Zacks Research cut shares of Roku from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 14th. Oppenheimer upped their price objective on shares of Roku from $105.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, February 13th. Finally, Needham & Company LLC upped their price objective on shares of Roku from $110.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. Twenty-two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $145.29.

Trending Headlines about Roku

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

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.