Insider Selling: Roku (NASDAQ:ROKU) CFO Sells $1,099,770.00 in Stock

Key Points

• Roku CFO Dan Jedda sold 7,000 shares at an average price of $157.11, generating $1.10 million; the transaction occurred under a pre-arranged Rule 10b5-1 trading plan and reduced his holdings by 9.59%.
• Roku shares rose 0.4% to $158.31, near their 52-week high, while the company reported stronger-than-expected quarterly results: $1.08 EPS and $1.35 billion in revenue, up 21.9% year over year.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $156.17; institutional investors own 86.3% of Roku’s outstanding shares.

Roku, Inc. (NASDAQ:ROKU - Get Free Report) CFO Dan Jedda sold 7,000 shares of the business's stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $157.11, for a total value of $1,099,770.00. Following the transaction, the chief financial officer owned 65,963 shares in the company, valued at approximately $10,363,446.93. This represents a 9.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, June 15th, Dan Jedda sold 7,000 shares of Roku stock. The shares were sold at an average price of $143.87, for a total value of $1,007,090.00.

Roku Trading Up 0.4%

NASDAQ ROKU traded up $0.63 on Monday, hitting $158.31. The company's stock had a trading volume of 2,745,166 shares, compared to its average volume of 2,630,244. The firm has a market cap of $23.50 billion, a P/E ratio of 67.65 and a beta of 2.01. Roku, Inc. has a 52-week low of $78.53 and a 52-week high of $158.51. The company's 50-day simple moving average is $141.89 and its 200 day simple moving average is $118.45.

Roku (NASDAQ:ROKU - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $1.08 earnings per share (EPS) 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 for the quarter, compared to analysts' expectations of $1.30 billion. During the same period in the previous year, the firm earned $0.07 earnings per share. The business's revenue was up 21.9% compared to the same quarter last year. On average, research analysts forecast that Roku, Inc. will post 2.82 EPS for the current fiscal year.

Hedge Funds Weigh In On Roku

Institutional investors have recently made changes to their positions in the business. Raleigh Capital Management Inc. raised its stake in Roku by 6.5% during the 1st quarter. Raleigh Capital Management Inc. now owns 1,522 shares of the company's stock valued at $144,000 after acquiring an additional 93 shares during the last quarter. Quantum Portfolio Management LLC grew its stake in shares of Roku by 2.6% in the 1st quarter. Quantum Portfolio Management LLC now owns 4,135 shares of the company's stock valued at $391,000 after purchasing an additional 105 shares during the last quarter. HB Wealth Management LLC grew its stake in shares of Roku by 3.7% in the 1st quarter. HB Wealth Management LLC now owns 3,447 shares of the company's stock valued at $326,000 after purchasing an additional 122 shares during the last quarter. Quarry LP increased its holdings in shares of Roku by 21.7% in the fourth quarter. Quarry LP now owns 689 shares of the company's stock valued at $75,000 after purchasing an additional 123 shares during the period. Finally, Swiss Life Asset Management Ltd increased its holdings in shares of Roku by 2.2% in the fourth quarter. Swiss Life Asset Management Ltd now owns 5,969 shares of the company's stock valued at $648,000 after purchasing an additional 127 shares during the period. Institutional investors own 86.30% of the company's stock.

Wall Street Analysts Forecast Growth

ROKU has been the topic of several research analyst reports. Citigroup boosted their price target on shares of Roku from $120.00 to $157.00 and gave the company a "neutral" rating in a research report on Friday, July 17th. KeyCorp cut Roku from an "overweight" rating to a "sector weight" rating in a research report on Monday, June 15th. Susquehanna downgraded Roku from a "positive" rating to a "neutral" rating and set a $160.00 target price on the stock. in a report on Tuesday, June 16th. Zacks Research raised Roku from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 11th. Finally, Evercore cut Roku from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 15th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and nineteen have issued a Hold rating to the company's stock. According to data from MarketBeat, Roku presently has a consensus rating of "Hold" and an average target price 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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