Insider Selling: Roku (NASDAQ:ROKU) CAO Sells $84,324.34 in Stock

Roku, Inc. (NASDAQ:ROKU) CAO Matthew Banks sold 554 shares of Roku stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $152.21, for a total value of $84,324.34. Following the transaction, the chief accounting officer owned 7,568 shares of the company’s stock, valued at approximately $1,151,925.28. This represents a 6.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Roku Price Performance

NASDAQ:ROKU traded up $1.02 during trading hours on Monday, reaching $153.41. The company had a trading volume of 1,952,937 shares, compared to its average volume of 3,368,155. Roku, Inc. has a 1-year low of $78.53 and a 1-year high of $159.89. The business’s 50 day moving average price is $153.45 and its 200-day moving average price is $133.35. The firm has a market cap of $22.77 billion, a PE ratio of 65.56 and a beta of 2.05.

Roku (NASDAQ:ROKU) last issued its quarterly earnings data on Thursday, August 6th. The company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.47. The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.30 billion. Roku had a net margin of 6.82% and a return on equity of 13.73%. The business’s revenue was up 21.9% on a year-over-year basis. During the same quarter last year, the company earned $0.07 EPS. On average, analysts expect that Roku, Inc. will post 2.92 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on ROKU. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $165.00 price objective (down from $167.00) on shares of Roku in a report on Friday, August 14th. Evercore lowered shares of Roku from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 15th. Citigroup raised their target price on Roku from $120.00 to $157.00 and gave the company a “neutral” rating in a research report on Friday, July 17th. KeyCorp lowered Roku from an “overweight” rating to a “sector weight” rating in a research note on Monday, June 15th. Finally, Oppenheimer downgraded Roku from an “outperform” rating to a “market perform” rating in a research report on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nineteen have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $156.17.

Hedge Funds Weigh In On Roku

A number of large investors have recently added to or reduced their stakes in ROKU. Moran Wealth Management LLC purchased a new stake in shares of Roku during the first quarter worth $2,990,000. Bank of New York Mellon Corp purchased a new stake in Roku during the 2nd quarter valued at about $105,216,000. Contravisory Investment Management Inc. acquired a new stake in Roku in the 2nd quarter valued at about $1,184,000. California Public Employees Retirement System lifted its stake in Roku by 14.8% in the 1st quarter. California Public Employees Retirement System now owns 260,774 shares of the company’s stock worth $24,674,000 after purchasing an additional 33,593 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its stake in Roku by 31.6% in the 1st quarter. Lazard Asset Management LLC now owns 96,204 shares of the company’s stock worth $9,103,000 after purchasing an additional 23,092 shares in the last quarter. 86.30% of the stock is currently owned by institutional investors and hedge funds.

Roku Company Profile

Roku, Inc develops and operates a television streaming platform that connects consumers with digital entertainment. Its platform enables users to access streaming services, live television, movies, music and other content through Roku devices and Roku-powered televisions.

The company offers Roku streaming players, Roku-branded televisions and the Roku operating system, which it licenses to television manufacturers. Roku also operates The Roku Channel, an ad-supported streaming service offering movies, television programs, news, live channels and other content.