Roku, Inc. (NASDAQ:ROKU – Get Free Report) CAO Matthew Banks sold 552 shares of the firm’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $157.44, for a total transaction of $86,906.88. Following the completion of the transaction, the chief accounting officer directly owned 7,016 shares in the company, valued at approximately $1,104,599.04. The trade was a 7.29% decrease in their position. The sale 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.
Roku Stock Performance
ROKU stock opened at $160.36 on Wednesday. The company has a market capitalization of $23.80 billion, a P/E ratio of 47.44 and a beta of 2.12. Roku, Inc. has a 52-week low of $78.53 and a 52-week high of $161.26. The business has a 50-day simple moving average of $155.15 and a two-hundred day simple moving average of $128.06.
Roku (NASDAQ:ROKU – Get Free Report) last issued its quarterly earnings data on Monday, November 2nd. The company reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.65. The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.41 billion. Roku had a return on equity of 19.19% and a net margin of 9.34%. The company’s revenue for the quarter was up 24.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.16 EPS. As a group, sell-side analysts forecast that Roku, Inc. will post 2.97 earnings per share for the current fiscal year.
Institutional Trading of Roku
Institutional investors and hedge funds have recently modified their holdings of the business. Signature Equity Partners LLC boosted its position in Roku by 1,225.0% in the third quarter. Signature Equity Partners LLC now owns 212 shares of the company’s stock worth $32,000 after purchasing an additional 196 shares during the last quarter. CX Institutional grew its stake in Roku by 44.1% in the 3rd quarter. CX Institutional now owns 281 shares of the company’s stock valued at $43,000 after purchasing an additional 86 shares during the period. Elevation Wealth Partners LLC grew its stake in 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 purchasing an additional 215 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new position in Roku in the 3rd quarter valued at $46,000. Finally, Coppell Advisory Solutions LLC bought a new position in Roku in the 2nd quarter valued at $47,000. 86.30% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities research analysts recently issued reports on the company. Rosenblatt Securities downgraded Roku from a “buy” rating to a “neutral” rating and set a $160.00 price target for the company. in a report on Tuesday. Wedbush reiterated a “neutral” rating and issued a $155.00 target price on shares of Roku in a report on Thursday, September 24th. JPMorgan Chase & Co. initiated coverage on shares of Roku in a research report on Monday, August 24th. They set a “neutral” rating and a $160.00 price target on the stock. Seaport Research Partners lowered shares of Roku from a “buy” rating to a “neutral” rating in a research report on Friday, August 7th. Finally, Wells Fargo & Company cut shares of Roku from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $167.00 to $165.00 in a report on Friday, August 14th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and nineteen have issued a Hold rating to the company. According to MarketBeat.com, Roku has an average rating of “Hold” and an average target price of $156.17.
Check Out Our Latest Stock Report on ROKU
Key Roku News
Here are the key news stories impacting Roku this week:
- Positive Sentiment: Roku reported third-quarter revenue of $1.50 billion, up 24.1% year over year and above analyst expectations of $1.41 billion. EPS of $1.20 also exceeded the $0.55 consensus, while net income reached $183 million. Advertising revenue rose 23%, helping drive the profit improvement. Roku earnings report
- Positive Sentiment: Fox reportedly received all foreign regulatory approvals for its proposed acquisition of Roku, helping narrow the deal spread. The transaction still faces remaining steps before closing. Fox-Roku regulatory update
- Neutral Sentiment: Executives’ share sales may attract attention, but both the director and chief accounting officer sold shares under pre-arranged Rule 10b5-1 plans, which limits the signal these transactions provide about their view of the stock. Director sale filing Chief accounting officer sale filing
- Negative Sentiment: Rosenblatt Securities downgraded Roku from “buy” to “neutral,” setting a $160 price target—close to the recent trading level and suggesting limited near-term upside in the firm’s view. Analyst downgrade
- Negative Sentiment: Roku said it expects heavier costs in the fourth quarter, which could temper the impact of the strong results. Earnings cost commentary
About Roku
Roku, Inc (NASDAQ: ROKU) operates a television streaming platform that connects consumers with digital entertainment. The company develops and licenses Roku OS, an operating system for smart televisions and streaming devices, and offers Roku-branded streaming players, Roku TVs, audio products and related accessories.
Roku also operates a platform business that distributes streaming content through its interface and supports content discovery, subscriptions and digital advertising. Its services include The Roku Channel, which provides a selection of ad-supported and premium entertainment, as well as tools that enable content providers and advertisers to reach streaming audiences.
Founded in 2002 by Anthony Wood, Roku initially became known for its streaming players and later expanded through partnerships with television manufacturers.
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