Insider Selling: Roku (NASDAQ:ROKU) CAO Sells $76,939.52 in Stock

Roku, Inc. (NASDAQ:ROKU) CAO Matthew Banks sold 554 shares of the company’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $138.88, for a total transaction of $76,939.52. Following the completion of the transaction, the chief accounting officer owned 7,171 shares of the company’s stock, valued at $995,908.48. This trade represents a 7.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Roku Price Performance

ROKU traded up $1.92 during trading hours on Thursday, reaching $142.43. 5,464,981 shares of the stock traded hands, compared to its average volume of 3,894,649. Roku, Inc. has a fifty-two week low of $78.53 and a fifty-two week high of $148.88. The company has a market cap of $21.00 billion, a price-to-earnings ratio of 107.09 and a beta of 2.01. The firm’s fifty day simple moving average is $127.18 and its two-hundred day simple moving average is $109.84.

Roku (NASDAQ:ROKU) last issued its quarterly earnings data on Thursday, April 30th. The company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.23. The firm had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.20 billion. Roku had a net margin of 4.06% and a return on equity of 7.64%. The firm’s revenue was up 22.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.19) EPS. On average, research analysts predict that Roku, Inc. will post 2.41 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on ROKU shares. Weiss Ratings reissued a “hold (c-)” rating on shares of Roku in a report on Friday, May 15th. Susquehanna downgraded Roku from a “positive” rating to a “neutral” rating and set a $160.00 price objective on the stock. in a report on Tuesday, June 16th. Seaport Research Partners set a $155.00 target price on Roku in a research report on Tuesday, June 16th. Pivotal Research reiterated a “buy” rating and set a $160.00 target price (up from $140.00) on shares of Roku in a research note on Friday, May 1st. Finally, Piper Sandler downgraded shares of Roku from an “overweight” rating to a “neutral” rating and raised their price target for the stock from $148.00 to $160.00 in a research report on Tuesday, June 16th. Eleven equities research analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $153.71.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Raleigh Capital Management Inc. raised its position in shares of Roku by 6.5% during the 1st quarter. Raleigh Capital Management Inc. now owns 1,522 shares of the company’s stock valued at $144,000 after acquiring an additional 93 shares in the last quarter. Apollon Wealth Management LLC boosted its holdings in Roku by 1.5% in the fourth quarter. Apollon Wealth Management LLC now owns 6,450 shares of the company’s stock worth $700,000 after purchasing an additional 96 shares during the period. Quantum Portfolio Management LLC boosted its holdings in Roku by 2.6% in the first quarter. Quantum Portfolio Management LLC now owns 4,135 shares of the company’s stock worth $391,000 after purchasing an additional 105 shares during the period. HB Wealth Management LLC increased its stake in Roku by 3.7% during the first quarter. HB Wealth Management LLC now owns 3,447 shares of the company’s stock valued at $326,000 after purchasing an additional 122 shares during the last quarter. Finally, Quarry LP increased its stake in Roku by 21.7% during the fourth quarter. Quarry LP now owns 689 shares of the company’s stock valued at $75,000 after purchasing an additional 123 shares during the last quarter. Institutional investors and hedge funds own 86.30% of the company’s stock.

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.