Gilbert Fuchsberg Sells 4,824 Shares of Roku (NASDAQ:ROKU) Stock

Roku, Inc. (NASDAQ:ROKU) insider Gilbert Fuchsberg sold 4,824 shares of Roku stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $155.64, for a total transaction of $750,807.36. Following the completion of the transaction, the insider directly owned 40,168 shares of the company’s stock, valued at $6,251,747.52. The trade was a 10.72% decrease in their position. The transaction was disclosed in a filing with the SEC, 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.

Gilbert Fuchsberg also recently made the following trade(s):

• On Thursday, August 6th, Gilbert Fuchsberg sold 10,719 shares of Roku stock. The stock was sold at an average price of $150.00, for a total transaction of $1,607,850.00.

Roku Stock Down 1.7%

NASDAQ:ROKU opened at $155.59 on Friday. Roku, Inc. has a 52 week low of $78.53 and a 52 week high of $159.89. The stock’s 50-day moving average price is $148.57 and its 200-day moving average price is $124.70. The stock has a market capitalization of $23.09 billion, a PE ratio of 66.49 and a beta of 2.05.

Roku (NASDAQ:ROKU) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $1.08 earnings per share (EPS) 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 company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter in the prior year, the business posted $0.07 earnings per share. Roku’s revenue for the quarter was up 21.9% on a year-over-year basis. Sell-side analysts expect that Roku, Inc. will post 2.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Roku

Several hedge funds and other institutional investors have recently modified their holdings of the business. Bayban lifted its stake in Roku by 1,300.0% in the 1st quarter. Bayban now owns 280 shares of the company’s stock worth $26,000 after purchasing an additional 260 shares in the last quarter. Safe Harbor Fiduciary LLC purchased a new stake in shares of Roku in the fourth quarter valued at approximately $31,000. Rakuten Securities Inc. increased its holdings in shares of Roku by 55.6% in the second quarter. Rakuten Securities Inc. now owns 442 shares of the company’s stock valued at $39,000 after purchasing an additional 158 shares during the last quarter. Elevation Wealth Partners LLC increased its holdings in shares of Roku by 208.7% in the second quarter. Elevation Wealth Partners LLC now owns 318 shares of the company’s stock valued at $44,000 after purchasing an additional 215 shares during the last quarter. Finally, Osbon Capital Management LLC purchased a new position in Roku during the fourth quarter worth approximately $45,000. 86.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on ROKU shares. JPMorgan Chase & Co. started coverage on shares of Roku in a research note on Monday, August 24th. They issued a “neutral” rating and a $160.00 price target on the stock. Piper Sandler downgraded shares of Roku from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $148.00 to $160.00 in a report on Tuesday, June 16th. Wedbush lowered shares of Roku from an “outperform” rating to a “neutral” rating and set a $155.00 target price on the stock. in a research report on Tuesday, June 16th. Wolfe Research cut shares of Roku from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, June 16th. Finally, Needham & Company LLC restated a “buy” rating on shares of Roku in a research report on Friday, August 7th. One equities research 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 company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $156.17.

Key Headlines Impacting Roku

Here are the key news stories impacting Roku this week:

• Positive Sentiment: Improving earnings outlook: Zacks assigned Roku a No. 1 “Strong Buy” ranking, citing upward EPS revisions. The rating follows Roku’s latest quarterly results, which exceeded consensus estimates for both earnings and revenue, with revenue rising 21.9% year over year. Bullish EPS Revisions Back IBKR, SNDK, and ROKU
• Positive Sentiment: Short-term technical momentum: ROKU recently moved above its 20-day moving average, suggesting improving near-term trading momentum and investor support. Roku Just Overtook the 20-Day Moving Average
• Positive Sentiment: Premium hardware expansion: Roku’s Pro Series OLED televisions, starting at $999, could improve its position in higher-end TV hardware and provide additional opportunities to monetize its platform. Roku’s $999 OLED Could Change How TV Makers Make Money
• Neutral Sentiment: Platform activity: Pluto TV launched a major update on Roku TVs and players, while the Roku Streaming Stick Plus returned to its prior Amazon price. These developments may support engagement and device demand, but their direct impact on near-term revenue is unclear. Pluto TV Rolls Out an Update on Roku Devices
• Neutral Sentiment: Consumer support coverage: Articles describing simple Roku troubleshooting steps and retail discounts for Roku TVs may help customer experience and product sales, but are unlikely to materially affect valuation. Common Roku Problems
• Negative Sentiment: Concentrated insider selling: Executives and directors sold a combined 20,846 shares worth roughly $3.25 million. The transactions were made under pre-arranged Rule 10b5-1 plans, and most covered tax withholding on vested equity awards, reducing the bearish significance. Still, the volume of selling may weigh on sentiment, particularly with ROKU near its annual high. Roku Insider Selling

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.