Roku (NASDAQ:ROKU) Insider Sells $1,108,529.62 in Stock

Key Points

• Roku insider Charles Collier sold 7,067 shares for approximately $1.11 million at an average price of $156.86, reducing his position by 23.74%. The sale was conducted under a pre-arranged Rule 10b5-1 plan to cover tax withholding on vested equity awards.
• Roku shares recently traded near $158.31, close to their 52-week high of $159.89, with a market capitalization of approximately $23.5 billion. The company’s latest quarterly results exceeded expectations, reporting $1.08 in EPS and $1.35 billion in revenue, up 21.9% year over year.
• Analyst sentiment remains mixed, with a consensus rating of “Hold” and 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) insider Charles Collier sold 7,067 shares of the stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $156.86, for a total value of $1,108,529.62. Following the completion of the transaction, the insider directly owned 22,700 shares of the company's stock, valued at $3,560,722. This represents a 23.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available 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 Tuesday, August 4th, Charles Collier sold 20,538 shares of Roku stock. The shares were sold at an average price of $145.93, for a total value of $2,997,110.34.
• On Monday, July 6th, Charles Collier sold 20,538 shares of Roku stock. The shares were sold at an average price of $142.51, for a total value of $2,926,870.38.

Roku Stock Performance

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

Roku (NASDAQ:ROKU - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $1.08 EPS for the quarter, beating analysts' consensus estimates of $0.61 by $0.47. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.30 billion. Roku had a net margin of 6.82% and a return on equity of 13.73%. The firm's revenue was up 21.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.07 EPS. On average, analysts forecast that Roku, Inc. will post 2.85 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Morgan Stanley boosted their price target on Roku from $150.00 to $170.00 and gave the company an "overweight" rating in a report on Thursday, June 4th. JPMorgan Chase & Co. assumed coverage on shares of Roku in a report on Monday, August 24th. They set a "neutral" rating and a $160.00 target price on the stock. Wedbush cut shares of Roku from an "outperform" rating to a "neutral" rating and set a $155.00 target price on the stock. in a report on Tuesday, June 16th. Seaport Research Partners downgraded Roku from a "buy" rating to a "neutral" rating in a research note on Friday, August 7th. Finally, KeyCorp cut Roku from an "overweight" rating to a "sector weight" rating in a research note on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nineteen have issued a Hold rating to the company. According to MarketBeat, Roku has an average rating of "Hold" and a consensus target price of $156.17.

Institutional Investors Weigh In On Roku

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ROKU. Bayban increased its holdings in shares of Roku by 1,300.0% in the first quarter. Bayban now owns 280 shares of the company's stock valued at $26,000 after buying an additional 260 shares in the last quarter. Safe Harbor Fiduciary LLC acquired a new stake in shares of Roku during the 4th quarter valued at $31,000. Rakuten Securities Inc. boosted its stake in shares of Roku by 55.6% during the 2nd quarter. Rakuten Securities Inc. now owns 442 shares of the company's stock worth $39,000 after acquiring an additional 158 shares in the last quarter. Elevation Wealth Partners LLC boosted its stake in shares of Roku by 208.7% during the 2nd quarter. Elevation Wealth Partners LLC now owns 318 shares of the company's stock worth $44,000 after acquiring an additional 215 shares in the last quarter. Finally, Osbon Capital Management LLC acquired a new position in shares of Roku in the 4th quarter worth $45,000. 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.

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