Roku (NASDAQ:ROKU) Stock: Insider Matthew Banks Sells 552 Shares

Roku, Inc. (NASDAQ:ROKU) CAO Matthew Banks sold 552 shares of the company’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $157.44, for a total value of $86,906.88. Following the completion of the sale, the chief accounting officer owned 7,016 shares in the company, valued at approximately $1,104,599.04. This represents a 7.29% decrease in their position. The sale was disclosed in a legal filing 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.

Roku Trading Up 1.5%

Shares of NASDAQ:ROKU opened at $162.77 on Thursday. Roku, Inc. has a twelve month low of $78.53 and a twelve month high of $163.08. The company has a market cap of $24.16 billion, a PE ratio of 48.16 and a beta of 2.12. The company’s 50 day moving average is $155.21 and its 200 day moving average is $128.34.

Roku (NASDAQ:ROKU) last announced its quarterly earnings data on Monday, November 2nd. The company reported $1.20 EPS for the quarter, beating the consensus estimate of $0.55 by $0.65. The business had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Roku had a net margin of 9.34% and a return on equity of 18.65%. The business’s quarterly revenue was up 24.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.16 EPS. Equities research analysts predict that Roku, Inc. will post 2.97 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Signature Equity Partners LLC lifted its stake in Roku by 1,225.0% in the 3rd quarter. Signature Equity Partners LLC now owns 212 shares of the company’s stock valued at $32,000 after buying an additional 196 shares in the last quarter. CX Institutional boosted its holdings in Roku by 44.1% in the 3rd quarter. CX Institutional now owns 281 shares of the company’s stock worth $43,000 after buying an additional 86 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Roku in the 3rd quarter worth about $46,000. Elevation Wealth Partners LLC increased its stake in Roku by 208.7% during the 2nd quarter. Elevation Wealth Partners LLC now owns 318 shares of the company’s stock worth $44,000 after buying an additional 215 shares in the last quarter. Finally, WPG Advisers LLC increased its stake in Roku by 96.8% during the 1st quarter. WPG Advisers LLC now owns 561 shares of the company’s stock worth $53,000 after buying an additional 276 shares in the last quarter. Hedge funds and other institutional investors own 86.30% of the company’s stock.

Roku News Roundup

Here are the key news stories impacting Roku this week:

• Positive Sentiment: Roku recently reported quarterly revenue of $1.50 billion, up 24.1% year over year and above estimates; EPS of $1.20 also topped the $0.55 consensus. The strong results provide a fundamental tailwind for the stock. Roku earnings story
• Positive Sentiment: Roku moved above its 20-day moving average after finding support, a technical signal the cited analysis views as indicating short-term bullish momentum. The article’s “golden cross” wording refers to this moving-average breakout, rather than establishing a longer-term trend by itself. Technical analysis
• Neutral Sentiment: Trading in Roku call options was unusually high, with volume about 179% above its typical level. This indicates increased options activity but does not establish whether investors’ overall outlook is bullish or bearish.
• Neutral Sentiment: A director and the chief accounting officer sold shares under pre-arranged Rule 10b5-1 plans. The transactions may draw attention, but the plans make them less clear as a signal of current insider sentiment. Director sale filing
• Negative Sentiment: Rosenblatt Securities cut its rating on Roku from “buy” to “hold” and set a $160 price target, signaling less optimism about near-term upside. Rosenblatt rating information
• Negative Sentiment: Roku is retiring its popular Aquatic Life screensaver, prompting negative reactions from some users. The customer response could weigh on sentiment, although the likely financial impact is unclear. Screensaver coverage

Analyst Ratings Changes

Several equities research analysts have commented on ROKU shares. JPMorgan Chase & Co. began coverage on shares of Roku in a report on Monday, August 24th. They issued a “neutral” rating and a $160.00 price target on the stock. Citigroup boosted their price objective on Roku from $120.00 to $157.00 and gave the company a “neutral” rating in a report on Friday, July 17th. Weiss Ratings raised Roku from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday. Wedbush reiterated a “neutral” rating and set a $155.00 price target on shares of Roku in a research report on Thursday, September 24th. Finally, BMO Capital Markets raised Roku from a “market perform” rating to an “outperform” rating in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eighteen have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $156.17.

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.