Roku, Inc. (NASDAQ:ROKU) CAO Sells $45,904.42 in Stock

Roku, Inc. (NASDAQ:ROKU - Get Free Report) CAO Matthew C. Banks sold 629 shares of Roku stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $72.98, for a total transaction of $45,904.42. Following the transaction, the chief accounting officer now owns 8,555 shares of the company's stock, valued at $624,343.90. The trade was a 6.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Roku Stock Performance

NASDAQ ROKU traded up $0.91 during trading hours on Thursday, reaching $74.60. The company's stock had a trading volume of 3,850,383 shares, compared to its average volume of 3,810,746. Roku, Inc. has a fifty-two week low of $48.33 and a fifty-two week high of $104.96. The stock has a market cap of $10.89 billion, a PE ratio of -83.82 and a beta of 2.06. The company's 50-day moving average is $65.37 and its two-hundred day moving average is $74.40.

Roku (NASDAQ:ROKU - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.08. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the firm posted ($0.35) earnings per share. Roku's revenue for the quarter was up 15.8% compared to the same quarter last year. Equities analysts expect that Roku, Inc. will post -0.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Roku

Hedge funds have recently added to or reduced their stakes in the stock. Anderson Financial Strategies LLC purchased a new position in Roku in the 1st quarter worth about $68,000. Strs Ohio bought a new stake in shares of Roku during the first quarter worth $3,984,000. Acadian Asset Management LLC boosted its holdings in Roku by 456.7% in the first quarter. Acadian Asset Management LLC now owns 1,905,779 shares of the company's stock valued at $134,222,000 after acquiring an additional 1,563,449 shares during the last quarter. Focus Partners Wealth bought a new position in Roku during the first quarter worth about $229,000. Finally, Plato Investment Management Ltd raised its position in shares of Roku by 217.4% during the first quarter. Plato Investment Management Ltd now owns 9,663 shares of the company's stock worth $688,000 after purchasing an additional 6,619 shares during the period. 86.30% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company cut their price objective on shares of Roku from $129.00 to $93.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. Wedbush decreased their price objective on shares of Roku from $125.00 to $100.00 and set an "outperform" rating for the company in a research report on Monday, April 28th. Benchmark reissued a "buy" rating and issued a $130.00 price target on shares of Roku in a research note on Friday, May 2nd. Loop Capital reduced their price target on Roku from $90.00 to $80.00 and set a "hold" rating on the stock in a report on Friday, May 2nd. Finally, Piper Sandler started coverage on shares of Roku in a report on Thursday, April 17th. They issued a "neutral" rating and a $65.00 price objective for the company. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $88.37.

About Roku

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.