Roku (NASDAQ:ROKU) Insider Mustafa Ozgen Sells 3,410 Shares of Stock

Key Points

• Roku insider Mustafa Ozgen sold 3,410 shares for approximately $530,732 under a pre-arranged Rule 10b5-1 plan to cover tax withholding tied to vested equity awards. His remaining stake fell 11.77% to 25,569 shares.
• Roku shares traded at $158.31, near their 52-week high, while the company reported quarterly revenue of $1.35 billion and earnings of $1.08 per share, exceeding analyst expectations.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and average price target of $156.17. Institutional investors own approximately 86.3% of Roku’s outstanding shares.

Roku, Inc. (NASDAQ:ROKU - Get Free Report) insider Mustafa Ozgen sold 3,410 shares of Roku stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $155.64, for a total value of $530,732.40. Following the completion of the transaction, the insider owned 25,569 shares of the company's stock, valued at approximately $3,979,559.16. This trade represents a 11.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 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.

Mustafa Ozgen also recently made the following trade(s):

• On Friday, June 12th, Mustafa Ozgen sold 10,194 shares of Roku stock. The shares were sold at an average price of $144.00, for a total value of $1,467,936.00.

Roku Stock Up 0.4%

ROKU traded up $0.61 during trading on Thursday, reaching $158.31. The company had a trading volume of 2,026,749 shares, compared to its average volume of 2,195,726. The business has a 50 day simple moving average of $148.16 and a 200-day simple moving average of $124.48. The stock has a market cap of $23.50 billion, a P/E ratio of 67.65 and a beta of 2.05. Roku, Inc. has a 52 week low of $78.53 and a 52 week high of $159.89.

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

Analysts Set New Price Targets

Several brokerages have issued reports on ROKU. Zacks Research raised shares of Roku from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 11th. Weiss Ratings raised Roku from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, August 11th. JPMorgan Chase & Co. initiated coverage on Roku in a report on Monday, August 24th. They issued a "neutral" rating and a $160.00 price target on the stock. William Blair lowered Roku from an "outperform" rating to a "market perform" rating in a research note on Monday, June 15th. Finally, Guggenheim cut Roku from a "buy" rating to a "neutral" rating and boosted their price objective for the company from $145.00 to $160.00 in a report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and nineteen have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $156.17.

Institutional Investors Weigh In On Roku

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ROKU. Corient Private Wealth LP boosted its position in Roku by 58.7% in the 2nd quarter. Corient Private Wealth LP now owns 133,101 shares of the company's stock valued at $18,387,000 after buying an additional 49,233 shares during the period. Absolute Gestao de Investimentos Ltda. purchased a new position in shares of Roku during the second quarter worth approximately $8,427,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Roku during the second quarter worth approximately $4,474,000. California State Teachers Retirement System raised its stake in shares of Roku by 13,741.7% during the second quarter. California State Teachers Retirement System now owns 20,912,738 shares of the company's stock valued at $2,888,886,000 after acquiring an additional 20,761,653 shares in the last quarter. Finally, Readystate Asset Management LP bought a new stake in shares of Roku during the second quarter valued at approximately $22,373,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source