Roku (NASDAQ:ROKU) CFO Dan Jedda Sells 7,000 Shares

Key Points

• Roku CFO Dan Jedda sold 7,000 shares at an average price of $156.81, generating approximately $1.10 million; the transaction was conducted under a pre-arranged Rule 10b5-1 plan.
• Roku shares fell 1.0% to $155.12, while the company reported quarterly revenue of $1.35 billion and adjusted earnings of $1.08 per share, exceeding analyst expectations.
• Analysts maintain a consensus “Hold” rating, with an average price target of $156.17; institutional investors own approximately 86.3% of Roku’s outstanding shares.

Roku, Inc. (NASDAQ:ROKU - Get Free Report) CFO Dan Jedda sold 7,000 shares of the company's stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $156.81, for a total transaction of $1,097,670.00. Following the transaction, the chief financial officer owned 74,811 shares in the company, valued at $11,731,112.91. The trade was a 8.56% 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.

Dan Jedda also recently made the following trade(s):

• On Monday, August 17th, Dan Jedda sold 7,000 shares of Roku stock. The shares were sold at an average price of $157.11, for a total transaction of $1,099,770.00.

Roku Trading Down 1.0%

Shares of NASDAQ:ROKU traded down $1.50 during trading on Wednesday, hitting $155.12. 2,187,629 shares of the stock were exchanged, compared to its average volume of 3,490,726. The company has a fifty day moving average price of $150.64 and a two-hundred day moving average price of $128.22. The company has a market cap of $23.02 billion, a PE ratio of 66.29 and a beta of 2.05. Roku, Inc. has a 12-month low of $78.53 and a 12-month high of $159.89.

Roku (NASDAQ:ROKU - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.47. Roku had a return on equity of 13.73% and a net margin of 6.82%.The firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same period last year, the business posted $0.07 EPS. Roku's quarterly revenue was up 21.9% on a year-over-year basis. Equities research analysts anticipate that Roku, Inc. will post 2.85 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ROKU. HBK Investments L P acquired a new position in shares of Roku in the 2nd quarter valued at $163,604,000. Sequoia Financial Advisors LLC increased its holdings in shares of Roku by 22.4% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 6,018 shares of the company's stock worth $831,000 after buying an additional 1,102 shares during the last quarter. Maven Securities LTD purchased a new position in shares of Roku in the 2nd quarter worth $5,111,000. IFP Advisors Inc boosted its holdings in Roku by 12.5% in the second quarter. IFP Advisors Inc now owns 1,965 shares of the company's stock valued at $271,000 after acquiring an additional 218 shares during the last quarter. Finally, Governors Lane LP acquired a new position in Roku in the second quarter valued at $5,622,000. 86.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on ROKU shares. Morgan Stanley raised their price objective on shares of Roku from $150.00 to $170.00 and gave the stock an "overweight" rating in a research note on Thursday, June 4th. Citigroup boosted their price target on Roku from $120.00 to $157.00 and gave the stock a "neutral" rating in a report on Friday, July 17th. Piper Sandler downgraded Roku from an "overweight" rating to a "neutral" rating and upped their price objective for the company from $148.00 to $160.00 in a research report on Tuesday, June 16th. Rosenblatt Securities reaffirmed a "buy" rating and set a $160.00 price objective on shares of Roku in a research note on Monday, August 10th. Finally, Weiss Ratings raised shares of Roku from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and nineteen have assigned a Hold rating to the company's stock. According to MarketBeat, Roku has a consensus rating of "Hold" and an average target price of $156.17.

Roku Company Profile

Roku, Inc NASDAQ: ROKU operates a television streaming platform that connects consumers with digital entertainment. Its Roku operating system powers streaming players, Roku-branded televisions and smart-TV products made by licensing partners. The platform provides access to streaming services, live television, movies, music and other applications.

The company also operates The Roku Channel, its own ad-supported streaming service offering licensed and original content, including movies, television programs, live channels and premium subscription options.

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