Roku (NASDAQ:ROKU) SVP Christopher Handman Sells 2,999 Shares of Stock

Key Points

• Roku SVP Christopher Handman sold 2,999 shares at an average price of $155.64, generating approximately $466,764. The transaction was conducted under a pre-arranged Rule 10b5-1 plan to cover tax withholding on vested equity awards, leaving him with 8,997 shares.
• Roku reported quarterly EPS of $1.08, beating estimates of $0.61, while revenue reached $1.35 billion and rose 21.9% year over year. Shares recently traded near $158, close to the company’s 52-week high of $159.89.
• Wall Street analysts maintain a consensus “Hold” rating, with an average price target of $156.17; 19 analysts rate the stock Hold, compared with seven Buys and one Strong Buy.

Roku, Inc. (NASDAQ:ROKU - Get Free Report) SVP Christopher Handman sold 2,999 shares of the firm's 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 $466,764.36. Following the transaction, the senior vice president owned 8,997 shares in the company, valued at approximately $1,400,293.08. The trade was a 25.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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.

Roku Stock Performance

Shares of NASDAQ ROKU traded up $0.61 during mid-day trading on Thursday, hitting $158.31. The stock had a trading volume of 2,026,749 shares, compared to its average volume of 2,195,726. The firm has a market cap of $23.50 billion, a P/E ratio of 67.65 and a beta of 2.05. The business has a 50 day moving average price of $148.16 and a two-hundred day moving average price of $124.48. Roku, Inc. has a 1 year low of $78.53 and a 1 year high of $159.89.

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ROKU. Citigroup increased their price target on shares of Roku from $120.00 to $157.00 and gave the stock a "neutral" rating in a research note on Friday, July 17th. UBS Group raised their target price on shares of Roku from $126.00 to $172.00 and gave the company a "neutral" rating in a research note on Friday, August 7th. Robert W. Baird reissued a "neutral" rating and issued a $160.00 price target on shares of Roku in a research report on Monday, June 15th. Piper Sandler downgraded Roku from an "overweight" rating to a "neutral" rating and upped their price target for the stock from $148.00 to $160.00 in a research note on Tuesday, June 16th. Finally, KeyCorp downgraded Roku from an "overweight" rating to a "sector weight" rating in a report on Monday, June 15th. One 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 stock. According to MarketBeat.com, Roku presently has a consensus rating of "Hold" and a consensus price target of $156.17.

Institutional Investors Weigh In On Roku

Institutional investors have recently modified their holdings of the business. Bayban raised its position in Roku by 1,300.0% in the 1st quarter. Bayban now owns 280 shares of the company's stock worth $26,000 after buying an additional 260 shares during the last quarter. Safe Harbor Fiduciary LLC purchased a new stake in shares of Roku during the 4th quarter valued at about $31,000. Elevation Wealth Partners LLC grew its stake in shares of Roku by 208.7% in the second quarter. Elevation Wealth Partners LLC now owns 318 shares of the company's stock worth $44,000 after acquiring an additional 215 shares during the period. Osbon Capital Management LLC purchased a new position in shares of Roku during the fourth quarter valued at approximately $45,000. Finally, Rakuten Securities Inc. raised its holdings in shares of Roku by 55.6% during the second quarter. Rakuten Securities Inc. now owns 442 shares of the company's stock valued at $39,000 after purchasing an additional 158 shares during the last quarter. 86.30% of the stock is owned by hedge funds and other institutional investors.

Roku Company Profile

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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