Roku (NASDAQ:ROKU) Insider Mustafa Ozgen Sells 10,194 Shares

Roku, Inc. (NASDAQ:ROKU) insider Mustafa Ozgen sold 10,194 shares of Roku stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $144.00, for a total value of $1,467,936.00. Following the completion of the sale, the insider owned 19,185 shares of the company’s stock, valued at $2,762,640. The trade was a 34.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Roku Stock Up 20.1%

Roku stock opened at $143.66 on Friday. The business has a 50-day simple moving average of $118.73 and a two-hundred day simple moving average of $106.23. The company has a market cap of $21.18 billion, a P/E ratio of 108.02 and a beta of 2.06. Roku, Inc. has a 52-week low of $73.91 and a 52-week high of $148.88.

Roku (NASDAQ:ROKU) last released its quarterly earnings results on Thursday, April 30th. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.23. The business had revenue of $1.25 billion during 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 business’s quarterly revenue was up 22.4% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.19) EPS. Research analysts anticipate that Roku, Inc. will post 2.41 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Raleigh Capital Management Inc. increased its holdings in shares of Roku by 6.5% in the 1st quarter. Raleigh Capital Management Inc. now owns 1,522 shares of the company’s stock worth $144,000 after buying an additional 93 shares during the last quarter. Apollon Wealth Management LLC increased its holdings in shares of Roku by 1.5% in the 4th quarter. Apollon Wealth Management LLC now owns 6,450 shares of the company’s stock worth $700,000 after buying an additional 96 shares during the last quarter. Thoroughbred Financial Services LLC increased its holdings in shares of Roku by 1.0% in the 3rd quarter. Thoroughbred Financial Services LLC now owns 9,945 shares of the company’s stock worth $995,000 after buying an additional 100 shares during the last quarter. Quantum Portfolio Management LLC increased its holdings in shares of Roku by 2.6% in the 1st quarter. Quantum Portfolio Management LLC now owns 4,135 shares of the company’s stock worth $391,000 after buying an additional 105 shares during the last quarter. Finally, HB Wealth Management LLC increased its holdings in shares of Roku by 3.7% in the 1st quarter. HB Wealth Management LLC now owns 3,447 shares of the company’s stock worth $326,000 after buying an additional 122 shares during the last quarter. 86.30% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about Roku

Here are the key news stories impacting Roku this week:

• Positive Sentiment: Roku is reportedly in sale talks, including a possible media tie-up, which could signal a strategic transaction or premium valuation if a deal materializes. Roku said to be in sale talks, including likely media tie-up, Bloomberg News reports
• Positive Sentiment: Evercore ISI raised its price target to $185 from $160 and kept a bullish rating, reinforcing optimism around Roku’s monetization efforts in its home screen and advertising-tech initiatives. Roku shares jump as fresh bullish analyst notes extend recent price-target hikes
• Positive Sentiment: Additional recent price-target hikes from firms like Morgan Stanley have added to the bullish analyst narrative, suggesting Wall Street sees more upside in Roku’s ad and platform strategy. Roku shares jump as fresh bullish analyst notes extend recent price-target hikes
• Neutral Sentiment: Several media stories highlighted Roku’s expanding free channels and consumer product discounts, but these appear more promotional than material fundamental catalysts. Roku Quietly Added Four New Free Channels For The Month Of June
• Negative Sentiment: CEO Anthony Wood sold 18,000 shares in a pre-arranged trading plan, which may add some caution, although the sale was not necessarily a bearish signal. Roku (NASDAQ:ROKU) CEO Anthony Wood Sells 18,000 Shares

Wall Street Analyst Weigh In

ROKU has been the topic of a number of analyst reports. Rosenblatt Securities lifted their price objective on Roku from $118.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Pivotal Research reaffirmed a “buy” rating and set a $160.00 price objective (up from $140.00) on shares of Roku in a research report on Friday, May 1st. Zacks Research cut Roku from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 14th. Wells Fargo & Company lifted their price objective on Roku from $137.00 to $167.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Finally, Wedbush boosted their price target on Roku from $140.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday, May 1st. Twenty-two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Roku currently has an average rating of “Moderate Buy” and an average price target of $146.96.

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.