Shares of Roku, Inc. (NASDAQ:ROKU – Get Free Report) traded down 1.6% during trading on Wednesday following insider selling activity. The stock traded as low as $152.35 and last traded at $152.90. 5,518,065 shares changed hands during trading, an increase of 56% from the average daily volume of 3,528,714 shares. The stock had previously closed at $155.34.
Specifically, insider Charles Collier sold 20,538 shares of Roku stock in a transaction on Friday, September 4th. The shares were sold at an average price of $156.99, for a total transaction of $3,224,260.62. Following the transaction, the insider owned 22,700 shares in the company, valued at approximately $3,563,673. The trade was a 47.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Matthew Banks sold 546 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $1,264,108.08. This trade represents a 6.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. In other news, insider Mustafa Ozgen sold 3,410 shares of the firm’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $155.64, for a total transaction of $530,732.40. Following the completion of the sale, the insider directly owned 25,569 shares in the company, valued at $3,979,559.16. This trade represents a 11.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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.
Analysts Set New Price Targets
ROKU has been the topic of a number of recent analyst reports. William Blair lowered Roku from an “outperform” rating to a “market perform” rating in a research report on Monday, June 15th. Evercore cut Roku from a “strong-buy” rating to a “hold” rating in a report on Monday, June 15th. Zacks Research upgraded shares of Roku from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 11th. Fox Advisors set a $157.00 price target on Roku in a research report on Friday, July 17th. Finally, UBS Group boosted their target price on shares of Roku from $126.00 to $172.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and nineteen have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $156.17.
Roku Stock Up 0.5%
The stock has a market capitalization of $22.99 billion, a PE ratio of 66.21 and a beta of 2.05. The stock’s 50-day moving average is $149.77 and its 200 day moving average is $126.78.
Roku (NASDAQ:ROKU – Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.47. The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.30 billion. Roku had a return on equity of 13.73% and a net margin of 6.82%.The business’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.07 earnings per share. As a group, equities research analysts forecast that Roku, Inc. will post 2.85 EPS for the current year.
Institutional Investors Weigh In On Roku
Institutional investors and hedge funds have recently modified their holdings of the business. Bayban lifted its holdings 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 during the last quarter. Safe Harbor Fiduciary LLC bought a new stake in shares of Roku during the fourth quarter valued at approximately $31,000. Elevation Wealth Partners LLC raised its stake in shares of Roku by 208.7% in the 2nd quarter. Elevation Wealth Partners LLC now owns 318 shares of the company’s stock valued at $44,000 after buying an additional 215 shares in the last quarter. Osbon Capital Management LLC bought a new position in Roku during the fourth quarter worth about $45,000. Finally, Rakuten Securities Inc. lifted its position in shares of Roku by 55.6% during the 2nd quarter. Rakuten Securities Inc. now owns 442 shares of the company’s stock worth $39,000 after buying an additional 158 shares during the period. Institutional investors and hedge funds own 86.30% of the company’s stock.
Roku Company Profile
Roku, Inc (NASDAQ: ROKU) operates a television streaming platform that connects consumers with digital entertainment. Its Roku operating system powers streaming players, Roku-branded televisions and smart-TV products made by licensing partners. The platform provides access to streaming services, live television, movies, music and other applications.
The company also operates The Roku Channel, its own ad-supported streaming service offering licensed and original content, including movies, television programs, live channels and premium subscription options.
Recommended Stories
- Five stocks we like better than Roku
- Block Makes a Federal Trust Bank Move That Could Reshape Its Fintech Model
- Kroger’s Textbook Entry for Buy-and-Hold Investors
- AST SpaceMobile Looks to Extend Its 30-Day FCC Satellite Testing Window
- Amgen Drops 10% on a Trial It Didn’t Even Run
Receive News & Ratings for Roku Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Roku and related companies with MarketBeat.com's FREE daily email newsletter.
