Roku, Inc. (NASDAQ:ROKU – Get Free Report) insider Mustafa Ozgen sold 3,410 shares of Roku stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $155.64, for a total value of $530,732.40. Following the completion of the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is available at this link. 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 value of $1,467,936.00.
Roku Stock Up 0.4%
ROKU traded up $0.61 during trading on Thursday, reaching $158.31. The company had a trading volume of 2,026,749 shares, compared to its average volume of 2,195,726. The business has a 50 day simple moving average of $148.16 and a 200-day simple moving average of $124.48. The stock has a market cap of $23.50 billion, a P/E ratio of 67.65 and a beta of 2.05. Roku, Inc. has a 52 week low of $78.53 and a 52 week high of $159.89.
Analysts Set New Price Targets
Several brokerages have issued reports on ROKU. Zacks Research raised shares of Roku from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 11th. Weiss Ratings raised Roku from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. JPMorgan Chase & Co. initiated coverage on Roku in a report on Monday, August 24th. They issued a “neutral” rating and a $160.00 price target on the stock. William Blair lowered Roku from an “outperform” rating to a “market perform” rating in a research note on Monday, June 15th. Finally, Guggenheim cut Roku from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $145.00 to $160.00 in a report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and nineteen have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $156.17.
View Our Latest Report on Roku
Institutional Investors Weigh In On Roku
A number of institutional investors and hedge funds have recently added to or reduced their stakes in ROKU. Corient Private Wealth LP boosted its position in Roku by 58.7% in the 2nd quarter. Corient Private Wealth LP now owns 133,101 shares of the company’s stock valued at $18,387,000 after buying an additional 49,233 shares during the period. Absolute Gestao de Investimentos Ltda. purchased a new position in shares of Roku during the second quarter worth approximately $8,427,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Roku during the second quarter worth approximately $4,474,000. California State Teachers Retirement System raised its stake 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 acquiring an additional 20,761,653 shares in the last quarter. Finally, Readystate Asset Management LP bought a new stake in shares of Roku during the second quarter valued at approximately $22,373,000. Institutional investors own 86.30% of the company’s stock.
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.
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