Roku (NASDAQ:ROKU) Director Neil Hunt Sells 2,000 Shares of Stock

Key Points

• Roku director Neil Hunt sold 2,000 shares at an average price of $156.30, generating $312,600. The Rule 10b5-1 transaction reduced his direct holdings by 17.2% to 9,629 shares.
• Roku shares were trading near a 52-week high at $158.31, with a $23.5 billion market capitalization. The company recently exceeded quarterly earnings and revenue estimates, reporting $1.08 in EPS and $1.35 billion in revenue, up 21.9% year over year.
• Institutional investors own 86.3% of Roku, while analyst sentiment remains mixed: the consensus rating is Hold with a $156.17 price target, despite several firms raising targets or upgrading the stock.

Roku, Inc. (NASDAQ:ROKU - Get Free Report) Director Neil Hunt sold 2,000 shares of the company's stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $156.30, for a total transaction of $312,600.00. Following the sale, the director directly owned 9,629 shares in the company, valued at $1,505,012.70. This trade represents a 17.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Roku Stock Performance

Shares of NASDAQ:ROKU traded up $0.61 during midday trading on Thursday, reaching $158.31. The company's stock had a trading volume of 2,026,749 shares, compared to its average volume of 2,195,726. Roku, Inc. has a fifty-two week low of $78.53 and a fifty-two week high of $159.89. The firm has a 50 day moving average price of $148.16 and a two-hundred day moving average price of $124.48. The firm has a market capitalization of $23.50 billion, a price-to-earnings ratio of 67.65 and a beta of 2.05.

Roku (NASDAQ:ROKU - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $1.08 earnings per share for the quarter, topping analysts' consensus estimates of $0.61 by $0.47. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.30 billion. Roku had a return on equity of 13.73% and a net margin of 6.82%.The firm's revenue for the quarter was up 21.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.07 earnings per share. As a group, research analysts anticipate that Roku, Inc. will post 2.85 earnings per share for the current year.

Institutional Investors Weigh In On Roku

Several institutional investors have recently bought and sold shares of ROKU. California State Teachers Retirement System grew its stake in shares of Roku by 13,741.7% in the 2nd quarter. California State Teachers Retirement System now owns 20,912,738 shares of the company's stock worth $2,888,886,000 after acquiring an additional 20,761,653 shares in the last quarter. AQR Capital Management LLC grew its position in Roku by 275.5% in the 3rd 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 in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Roku by 229.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,038,347 shares of the company's stock valued at $192,868,000 after buying an additional 1,419,772 shares during the last quarter. Fred Alger Management LLC increased its stake in Roku by 7,087.7% in the 4th quarter. Fred Alger Management LLC now owns 1,421,440 shares of the company's stock valued at $154,212,000 after buying an additional 1,401,664 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Roku during the 4th quarter worth approximately $92,808,000. Institutional investors own 86.30% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on ROKU. Susquehanna lowered Roku from a "positive" rating to a "neutral" rating and set a $160.00 target price for the company. in a research report on Tuesday, June 16th. Wolfe Research lowered Roku from an "outperform" rating to a "peer perform" rating in a report on Tuesday, June 16th. Rosenblatt Securities reissued a "buy" rating and issued a $160.00 price objective on shares of Roku in a research note on Monday, August 10th. UBS Group boosted their price objective on Roku from $126.00 to $172.00 and gave the company a "neutral" rating in a report on Friday, August 7th. Finally, Zacks Research raised Roku from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and nineteen have given a Hold rating to the company. Based on data from MarketBeat.com, Roku has an average rating of "Hold" and a consensus price target of $156.17.

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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