Charles Collier Sells 7,067 Shares of Roku (NASDAQ:ROKU) Stock

Key Points

• Roku insider Charles Collier sold 7,067 shares on June 2 at an average price of $127.26, worth about $899,346. The sale reduced his ownership by 31.74% and was made under a pre-arranged 10b5-1 plan to cover tax withholding from vested equity awards.
• Roku reported stronger-than-expected quarterly results on April 30, posting EPS of $0.57 versus the $0.34 consensus estimate and revenue of $1.25 billion, up 22.4% year over year. The company also beat analysts’ revenue expectations and turned in improved profitability metrics.
• Analysts remain broadly positive on Roku, with 22 Buy ratings and 4 Hold ratings, giving it a consensus “Moderate Buy” and an average price target of $144.46. Meanwhile, hedge funds continue to accumulate shares, and institutional investors now own 86.3% of the stock.

Roku, Inc. (NASDAQ:ROKU - Get Free Report) insider Charles Collier sold 7,067 shares of the company's stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $127.26, for a total transaction of $899,346.42. Following the transaction, the insider owned 15,200 shares in the company, valued at $1,934,352. The trade was a 31.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed 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.

Charles Collier also recently made the following trade(s):

• On Monday, May 4th, Charles Collier sold 20,538 shares of Roku stock. The stock was sold at an average price of $124.23, for a total transaction of $2,551,435.74.
• On Friday, April 17th, Charles Collier sold 205,807 shares of Roku stock. The stock was sold at an average price of $115.00, for a total transaction of $23,667,805.00.
• On Thursday, April 16th, Charles Collier sold 3,431 shares of Roku stock. The stock was sold at an average price of $110.17, for a total transaction of $377,993.27.
• On Wednesday, April 8th, Charles Collier sold 205,821 shares of Roku stock. The stock was sold at an average price of $105.00, for a total transaction of $21,611,205.00.
• On Thursday, March 5th, Charles Collier sold 1,715 shares of Roku stock. The stock was sold at an average price of $100.00, for a total transaction of $171,500.00.

Roku Stock Performance

ROKU traded down $4.92 on Wednesday, hitting $122.20. 2,357,791 shares of the company were exchanged, compared to its average volume of 3,062,960. The business's fifty day moving average is $113.01 and its 200 day moving average is $104.54. Roku, Inc. has a fifty-two week low of $72.75 and a fifty-two week high of $133.46. The firm has a market capitalization of $18.02 billion, a P/E ratio of 91.88 and a beta of 2.06.

Roku (NASDAQ:ROKU - Get Free Report) last issued its earnings results on Thursday, April 30th. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.23. Roku had a net margin of 4.06% and a return on equity of 7.64%. The company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period in the prior year, the business posted ($0.19) earnings per share. The firm's revenue for the quarter was up 22.4% compared to the same quarter last year. Analysts forecast that Roku, Inc. will post 2.41 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on ROKU shares. Stifel Nicolaus set a $160.00 price target on shares of Roku in a research report on Monday, March 2nd. Pivotal Research reiterated a "buy" rating and issued a $160.00 price target (up from $140.00) on shares of Roku in a research report on Friday, May 1st. Jefferies Financial Group increased their price target on shares of Roku from $135.00 to $140.00 and gave the company a "buy" rating in a research report on Monday, April 13th. KeyCorp increased their price target on shares of Roku from $140.00 to $150.00 and gave the company an "overweight" rating in a research report on Friday, May 1st. Finally, Moffett Nathanson reiterated a "neutral" rating and issued a $100.00 price target on shares of Roku in a research report on Friday, February 13th. Twenty-two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, Roku presently has a consensus rating of "Moderate Buy" and an average price target of $144.46.

Hedge Funds Weigh In On Roku

Institutional investors and hedge funds have recently modified their holdings of the company. AQR Capital Management LLC raised its stake in Roku by 275.5% during the third quarter. AQR Capital Management LLC now owns 2,586,125 shares of the company's stock worth $258,897,000 after purchasing an additional 1,897,407 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in Roku by 229.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,038,347 shares of the company's stock worth $192,868,000 after purchasing an additional 1,419,772 shares during the period. Fred Alger Management LLC raised its stake in Roku by 7,087.7% during the fourth quarter. Fred Alger Management LLC now owns 1,421,440 shares of the company's stock worth $154,212,000 after purchasing an additional 1,401,664 shares during the period. Holocene Advisors LP raised its stake in Roku by 352.3% during the third quarter. Holocene Advisors LP now owns 1,650,448 shares of the company's stock worth $165,259,000 after purchasing an additional 1,285,585 shares during the period. Finally, Norges Bank purchased a new position in Roku during the fourth quarter worth approximately $92,808,000. Hedge funds and other institutional investors 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.

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