Roku (NASDAQ:ROKU) Director Mai Fyfield Sells 832 Shares

Key Points

• Director Mai Fyfield sold 832 Roku shares on June 11 at an average price of $119.64, totaling about $99,540. The filing says the sale was to cover tax withholding tied to vested equity awards.
• Roku’s stock surged to $143.66, up $24.02 on the day, after trading on very heavy volume. The move brought the stock close to its 52-week high of $148.88.
• Analyst sentiment remains bullish, with several firms recently raising price targets and MarketBeat noting a consensus rating of “Moderate Buy” with an average target of $146.96. Roku also reported stronger-than-expected quarterly results, including EPS of $0.57 on revenue of $1.25 billion.

Roku, Inc. (NASDAQ:ROKU - Get Free Report) Director Mai Fyfield sold 832 shares of the company's stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $119.64, for a total transaction of $99,540.48. Following the completion of the transaction, the director owned 5,389 shares in the company, valued at approximately $644,739.96. This trade represents a 13.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Roku Stock Performance

ROKU traded up $24.02 on Friday, reaching $143.66. The company had a trading volume of 14,999,929 shares, compared to its average volume of 2,010,160. The stock has a market cap of $21.18 billion, a P/E ratio of 108.02 and a beta of 2.06. Roku, Inc. has a fifty-two week low of $73.91 and a fifty-two week high of $148.88. The company's fifty day moving average is $118.73 and its 200 day moving average is $106.23.

Roku (NASDAQ:ROKU - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.34 by $0.23. The firm had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.20 billion. Roku had a net margin of 4.06% and a return on equity of 7.64%. The business's revenue for the quarter was up 22.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.19) EPS. On average, sell-side analysts expect that Roku, Inc. will post 2.41 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. UBS Group set a $170.00 price target on shares of Roku in a research report on Thursday, May 28th. Morgan Stanley increased their price target on shares of Roku from $150.00 to $170.00 and gave the stock an "overweight" rating in a research report on Thursday, June 4th. Benchmark increased their price target on shares of Roku from $130.00 to $160.00 and gave the stock a "buy" rating in a research report on Friday, May 1st. Moffett Nathanson reiterated a "neutral" rating and set a $100.00 price target on shares of Roku in a research report on Friday, February 13th. Finally, Guggenheim increased their price target on shares of Roku from $140.00 to $145.00 and gave the stock a "buy" rating in a research report on Tuesday. Twenty-two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, Roku presently has a consensus rating of "Moderate Buy" and an average price target of $146.96.

Hedge Funds Weigh In On Roku

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in Roku by 2.5% in the 3rd quarter. Vanguard Group Inc. now owns 12,998,674 shares of the company's stock valued at $1,301,557,000 after purchasing an additional 322,858 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Roku by 10.6% during the fourth quarter. AQR Capital Management LLC now owns 2,860,149 shares of the company's stock valued at $310,298,000 after acquiring an additional 274,024 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Roku by 7.3% during the fourth quarter. Geode Capital Management LLC now owns 2,464,130 shares of the company's stock valued at $267,389,000 after acquiring an additional 168,214 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Roku by 229.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,038,347 shares of the company's stock valued at $192,868,000 after acquiring an additional 1,419,772 shares during the last quarter. Finally, Holocene Advisors LP raised its stake in shares of Roku by 352.3% during the third quarter. Holocene Advisors LP now owns 1,650,448 shares of the company's stock valued at $165,259,000 after acquiring an additional 1,285,585 shares during the last quarter. Institutional investors own 86.30% of the company's stock.

Roku News Roundup

Here are the key news stories impacting Roku this week:

• Positive Sentiment: Roku is reportedly in sale talks, including a possible media tie-up, which could signal a strategic transaction or premium valuation if a deal materializes. Roku said to be in sale talks, including likely media tie-up, Bloomberg News reports
• Positive Sentiment: Evercore ISI raised its price target to $185 from $160 and kept a bullish rating, reinforcing optimism around Roku’s monetization efforts in its home screen and advertising-tech initiatives. Roku shares jump as fresh bullish analyst notes extend recent price-target hikes
• Positive Sentiment: Additional recent price-target hikes from firms like Morgan Stanley have added to the bullish analyst narrative, suggesting Wall Street sees more upside in Roku’s ad and platform strategy. Roku shares jump as fresh bullish analyst notes extend recent price-target hikes
• Neutral Sentiment: Several media stories highlighted Roku’s expanding free channels and consumer product discounts, but these appear more promotional than material fundamental catalysts. Roku Quietly Added Four New Free Channels For The Month Of June
• Negative Sentiment: CEO Anthony Wood sold 18,000 shares in a pre-arranged trading plan, which may add some caution, although the sale was not necessarily a bearish signal. Roku NASDAQ: ROKU CEO Anthony Wood Sells 18,000 Shares

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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