Roku (NASDAQ:ROKU) CAO Matthew Banks Sells 546 Shares

Roku, Inc. (NASDAQ:ROKU) CAO Matthew Banks sold 546 shares of the stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $155.64, for a total transaction of $84,979.44. Following the completion of the sale, the chief accounting officer directly owned 8,122 shares in the company, valued at approximately $1,264,108.08. The trade was a 6.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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.

Roku Stock Up 0.4%

Shares of Roku stock traded up $0.61 during trading on Thursday, hitting $158.31. 2,026,749 shares of the company were exchanged, compared to its average volume of 2,195,726. The firm has a 50 day moving average price of $148.16 and a 200 day moving average price of $124.48. The stock has a market capitalization of $23.50 billion, a price-to-earnings ratio of 67.65 and a beta of 2.05. Roku, Inc. has a fifty-two week low of $78.53 and a fifty-two week high of $159.89.

Roku (NASDAQ:ROKU) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.47. The business had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.30 billion. Roku had a return on equity of 13.73% and a net margin of 6.82%.The business’s revenue was up 21.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.07 earnings per share. Analysts predict that Roku, Inc. will post 2.85 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ROKU shares. UBS Group upped their price objective on shares of Roku from $126.00 to $172.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. Susquehanna cut shares of Roku from a “positive” rating to a “neutral” rating and set a $160.00 target price for the company. in a research note on Tuesday, June 16th. Jefferies Financial Group lowered Roku from a “buy” rating to a “hold” rating and set a $160.00 price target on the stock. in a research note on Monday, June 15th. Needham & Company LLC restated a “buy” rating on shares of Roku in a report on Friday, August 7th. Finally, Guggenheim cut Roku from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $145.00 to $160.00 in a report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nineteen have issued a Hold rating to the stock. According to data from MarketBeat, Roku has a consensus rating of “Hold” and a consensus target price of $156.17.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Raleigh Capital Management Inc. increased its stake in Roku by 6.5% during the first quarter. Raleigh Capital Management Inc. now owns 1,522 shares of the company’s stock worth $144,000 after acquiring an additional 93 shares during the last quarter. Quantum Portfolio Management LLC lifted its stake in shares of Roku by 2.6% in the 1st quarter. Quantum Portfolio Management LLC now owns 4,135 shares of the company’s stock valued at $391,000 after purchasing an additional 105 shares in the last quarter. HB Wealth Management LLC lifted its stake in shares of Roku by 3.7% in the 1st quarter. HB Wealth Management LLC now owns 3,447 shares of the company’s stock valued at $326,000 after purchasing an additional 122 shares in the last quarter. Quarry LP grew its holdings in shares of Roku by 21.7% during the 4th quarter. Quarry LP now owns 689 shares of the company’s stock worth $75,000 after purchasing an additional 123 shares during the period. Finally, Swiss Life Asset Management Ltd grew its holdings in shares of Roku by 2.2% during the 4th quarter. Swiss Life Asset Management Ltd now owns 5,969 shares of the company’s stock worth $648,000 after purchasing an additional 127 shares during the period. Institutional investors and hedge funds own 86.30% of the company’s stock.

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.