Christopher Handman Sells 2,999 Shares of Roku (NASDAQ:ROKU) Stock

Roku, Inc. (NASDAQ:ROKU) SVP Christopher Handman sold 2,999 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $127.26, for a total value of $381,652.74. Following the completion of the transaction, the senior vice president owned 5,998 shares in the company, valued at $763,305.48. This represents a 33.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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.

Roku Price Performance

Shares of ROKU opened at $125.59 on Friday. The company has a market capitalization of $18.52 billion, a price-to-earnings ratio of 94.43 and a beta of 2.06. Roku, Inc. has a fifty-two week low of $73.65 and a fifty-two week high of $133.46. The business’s 50-day moving average is $114.77 and its 200-day moving average is $105.03.

Roku (NASDAQ:ROKU) last issued its earnings results on Thursday, April 30th. The company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.23. The company had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.20 billion. Roku had a return on equity of 7.64% and a net margin of 4.06%.The firm’s quarterly revenue was up 22.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.19) EPS. Equities research analysts expect that Roku, Inc. will post 2.41 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Roku

Hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. grew its holdings in Roku by 680.0% during the fourth quarter. Blue Trust Inc. now owns 234 shares of the company’s stock valued at $25,000 after purchasing an additional 204 shares during the last quarter. Aventura Private Wealth LLC acquired a new position in Roku during the fourth quarter valued at approximately $26,000. Bayban grew its holdings in Roku by 1,300.0% during the first quarter. Bayban now owns 280 shares of the company’s stock valued at $26,000 after purchasing an additional 260 shares during the last quarter. WPG Advisers LLC acquired a new position in Roku during the fourth quarter valued at approximately $31,000. Finally, Safe Harbor Fiduciary LLC acquired a new position in Roku during the fourth quarter valued at approximately $31,000. Institutional investors and hedge funds own 86.30% of the company’s stock.

Roku News Roundup

Here are the key news stories impacting Roku this week:

• Positive Sentiment: Roku continues to expand The Roku Channel with new free live TV offerings, including Sports Illustrated and FIFA Plus channels, which should help drive engagement and ad-supported viewing. Article Title
• Positive Sentiment: Roku also launched a $25 bundle pairing the Streaming Stick Plus with Fox One, underscoring management’s push to grow device sales and premium streaming adoption. Article Title
• Positive Sentiment: Multiple bullish articles highlighted Roku’s rising scale, including claims that the company is now in 100 million households worldwide and is better positioned for live sports and ad-supported streaming growth. Article Title
• Positive Sentiment: Coverage praising Roku’s expanding channel lineup and its $300 QLED smart TV suggests the company is strengthening its hardware-and-platform ecosystem. Article Title
• Neutral Sentiment: Roku’s presentation at the Evercore Global TMT Conference kept investors focused on the company’s strategy and outlook, but the transcript itself is not a direct catalyst. Article Title
• Negative Sentiment: Several insiders sold shares, including a director, SVP, CAO and another executive; the transactions were pre-planned and tied to tax withholding, but insider selling can still pressure sentiment. Article Title
• Negative Sentiment: A broader pullback in growth stocks, driven by higher Treasury yields and a softer advertising outlook, also weighed on Roku because its business is closely tied to ad spending. Article Title

Analyst Ratings Changes

ROKU has been the topic of a number of research reports. Zacks Research downgraded Roku from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 14th. Robert W. Baird increased their price objective on Roku from $130.00 to $160.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. Pivotal Research restated a “buy” rating and issued a $160.00 price objective (up from $140.00) on shares of Roku in a report on Friday, May 1st. Piper Sandler increased their price objective on Roku from $140.00 to $148.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Finally, Morgan Stanley increased their price objective on Roku from $150.00 to $170.00 and gave the stock an “overweight” rating in a report on Thursday. Twenty-two analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $145.29.

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.