Roku, Inc. (NASDAQ:ROKU) CAO Matthew C. Banks Sells 3,360 Shares

Key Points

• Roku's CAO, Matthew C. Banks, sold 3,360 shares at an average price of $85.05, totaling $285,768, resulting in a 39.28% decrease in his ownership.
• The company reported a 14.7% year-over-year revenue increase to $1.11 billion and positive earnings per share (EPS) of $0.07, beating expectations significantly.
• Roku is currently rated as a "Moderate Buy" by analysts, with an average target price of $98.96, indicating optimism about its future performance.

Roku, Inc. (NASDAQ:ROKU - Get Free Report) CAO Matthew C. Banks sold 3,360 shares of Roku stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $85.05, for a total transaction of $285,768.00. Following the completion of the sale, the chief accounting officer directly owned 5,195 shares of the company's stock, valued at $441,834.75. The trade was a 39.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Roku Stock Performance

Shares of ROKU stock traded down $2.19 during trading hours on Tuesday, hitting $83.64. 5,273,870 shares of the company were exchanged, compared to its average volume of 3,985,599. The firm has a market cap of $12.21 billion, a P/E ratio of -199.14, a P/E/G ratio of 16.16 and a beta of 2.05. Roku, Inc. has a fifty-two week low of $51.30 and a fifty-two week high of $104.96. The company has a 50 day simple moving average of $84.34 and a two-hundred day simple moving average of $77.10.

Roku (NASDAQ:ROKU - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.23. Roku had a negative net margin of 1.40% and a negative return on equity of 2.44%. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the firm posted ($0.18) EPS. Roku's revenue was up 14.7% compared to the same quarter last year. As a group, sell-side analysts expect that Roku, Inc. will post -0.3 EPS for the current fiscal year.

Institutional Investors Weigh In On Roku

A number of hedge funds have recently made changes to their positions in the business. Verity Asset Management Inc. raised its stake in Roku by 7.4% in the 2nd quarter. Verity Asset Management Inc. now owns 18,685 shares of the company's stock valued at $1,642,000 after acquiring an additional 1,283 shares during the period. MUFG Securities EMEA plc bought a new stake in Roku in the 2nd quarter valued at about $4,307,000. ANTIPODES PARTNERS Ltd raised its stake in Roku by 44.5% in the 2nd quarter. ANTIPODES PARTNERS Ltd now owns 7,169 shares of the company's stock valued at $630,000 after acquiring an additional 2,209 shares during the period. Simon Quick Advisors LLC raised its stake in Roku by 14.2% in the 2nd quarter. Simon Quick Advisors LLC now owns 3,419 shares of the company's stock valued at $300,000 after acquiring an additional 426 shares during the period. Finally, Strs Ohio raised its stake in Roku by 16.0% in the 2nd quarter. Strs Ohio now owns 65,607 shares of the company's stock valued at $5,766,000 after acquiring an additional 9,052 shares during the period. 86.30% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ROKU. Redburn Atlantic raised shares of Roku from a "neutral" rating to a "buy" rating and set a $100.00 price objective for the company in a research note on Monday, April 7th. Citigroup restated a "neutral" rating and set a $84.00 target price (up previously from $68.00) on shares of Roku in a report on Wednesday, June 18th. Pivotal Research lifted their target price on shares of Roku from $100.00 to $120.00 and gave the company a "buy" rating in a report on Friday. Rosenblatt Securities lifted their target price on shares of Roku from $75.00 to $101.00 and gave the company a "neutral" rating in a report on Friday. Finally, Bank of America lifted their target price on shares of Roku from $100.00 to $110.00 and gave the company a "buy" rating in a report on Thursday, July 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $98.96.

Roku Company Profile

Roku, Inc, together with its subsidiaries, operates a TV streaming platform in the United states and internationally. The company operates in two segments, Platform and Devices. Its streaming platform allows users to find and access TV shows, movies, news, sports, and others. The Platform segment offers digital advertising, including direct and programmatic video advertising, media and entertainment promotional spending, and related services; and streaming services distribution, such as subscription and transaction revenue shares, and sale of premium subscriptions and branded app buttons on remote controls.

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