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

Roku, Inc. (NASDAQ:ROKU) SVP Christopher Handman sold 2,999 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 value of $466,764.36. Following the sale, the senior vice president directly owned 8,997 shares in the company, valued at approximately $1,400,293.08. This trade represents a 25.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 Trading Up 0.4%

Shares of NASDAQ:ROKU opened at $158.31 on Friday. Roku, Inc. has a 12-month low of $78.53 and a 12-month high of $159.89. The company has a market capitalization of $23.50 billion, a PE ratio of 67.65 and a beta of 2.05. The business has a 50 day moving average of $148.16 and a two-hundred day moving average of $124.48.

Roku (NASDAQ:ROKU) last released its quarterly earnings data on Wednesday, August 5th. The company reported $1.08 EPS for the quarter, topping the consensus estimate of $0.61 by $0.47. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.30 billion. Roku had a return on equity of 13.73% and a net margin of 6.82%.The business’s quarterly revenue was up 21.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.07 EPS. Equities research analysts predict that Roku, Inc. will post 2.85 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Jefferies Financial Group Inc. purchased a new stake in Roku in the 4th quarter worth $1,345,000. Moran Wealth Management LLC purchased a new position in Roku during the first quarter valued at $2,990,000. Bank of New York Mellon Corp purchased a new position in Roku during the second quarter valued at $105,216,000. Contravisory Investment Management Inc. acquired a new stake in shares of Roku in the second quarter valued at about $1,184,000. Finally, California Public Employees Retirement System grew its position in shares of Roku by 14.8% in the first quarter. California Public Employees Retirement System now owns 260,774 shares of the company’s stock valued at $24,674,000 after purchasing an additional 33,593 shares during the period. Hedge funds and other institutional investors own 86.30% of the company’s stock.

Wall Street Analysts Forecast Growth

ROKU has been the topic of a number of recent analyst reports. KeyCorp downgraded shares of Roku from an “overweight” rating to a “sector weight” rating in a report on Monday, June 15th. Susquehanna cut shares of Roku from a “positive” rating to a “neutral” rating and set a $160.00 price objective for the company. in a report on Tuesday, June 16th. Citizens Jmp downgraded shares of Roku from a “market outperform” rating to a “hold” rating in a research report on Tuesday, June 16th. Seaport Research Partners lowered shares of Roku from a “buy” rating to a “neutral” rating in a research note on Friday, August 7th. Finally, Guggenheim cut Roku from a “buy” rating to a “neutral” rating and raised their target price for the company from $145.00 to $160.00 in a research 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 issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $156.17.

Roku News Summary

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.