Dan Jedda Sells 7,000 Shares of Roku (NASDAQ:ROKU) Stock

Roku, Inc. (NASDAQ:ROKU) CFO Dan Jedda sold 7,000 shares of Roku stock in a transaction on Friday, May 15th. The stock was sold at an average price of $122.56, for a total transaction of $857,920.00. Following the sale, the chief financial officer owned 71,115 shares in the company, valued at $8,715,854.40. This represents a 8.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 Wednesday, April 15th, Dan Jedda sold 7,000 shares of Roku stock. The stock was sold at an average price of $107.00, for a total transaction of $749,000.00.
• On Monday, March 16th, Dan Jedda sold 15,000 shares of Roku stock. The stock was sold at an average price of $94.23, for a total transaction of $1,413,450.00.
• On Tuesday, February 17th, Dan Jedda sold 3,000 shares of Roku stock. The stock was sold at an average price of $88.88, for a total transaction of $266,640.00.

Roku Stock Performance

ROKU opened at $120.58 on Wednesday. The firm’s 50-day simple moving average is $107.42 and its 200-day simple moving average is $103.10. Roku, Inc. has a twelve month low of $67.67 and a twelve month high of $131.39. The firm has a market cap of $17.78 billion, a price-to-earnings ratio of 90.66 and a beta of 2.04.

Roku (NASDAQ:ROKU) last posted its earnings results on Thursday, April 30th. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.23. Roku had a net margin of 4.06% and a return on equity of 7.64%. The business had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the prior year, the firm earned ($0.19) EPS. The firm’s quarterly revenue was up 22.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Roku, Inc. will post 2.41 EPS for the current fiscal year.

Key Roku News

Here are the key news stories impacting Roku this week:

• Positive Sentiment: Roku launched a new “Creators” hub and is adding creator-driven FAST channels, signaling a push to expand content discovery and attract more viewing time on its platform. Roku Doubling Down on Creators With Dedicated Destination and New FAST Channels (Exclusive)
• Positive Sentiment: Roku also secured exclusive streaming rights for the Enhanced Games, adding another live sports property to its platform and potentially strengthening its ad-supported viewing mix. Roku’s Exclusive Enhanced Games Deal Adds Fresh Angle To Valuation Story
• Positive Sentiment: Investor sentiment is improving as one article highlights a bullish options trade that seeks a quick 30% gain, reflecting expectations for continued upside momentum in ROKU shares. This Bullish Roku Trade Seeks A Quick 30% Profit
• Neutral Sentiment: Roku CEO/CFO insider selling was disclosed, but the sale was made under a pre-arranged Rule 10b5-1 plan, which makes it less informative as a near-term trading signal. Roku (NASDAQ:ROKU) CFO Sells $857,920.00 in Stock

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Royal Fund Management LLC acquired a new position in Roku during the 1st quarter valued at about $365,000. Bank of America Corp DE lifted its position in Roku by 5.5% during the 1st quarter. Bank of America Corp DE now owns 1,082,755 shares of the company’s stock valued at $102,450,000 after purchasing an additional 56,893 shares during the period. Janus Henderson Group PLC lifted its position in Roku by 1,320.4% during the 1st quarter. Janus Henderson Group PLC now owns 834,619 shares of the company’s stock valued at $78,967,000 after purchasing an additional 775,861 shares during the period. Bull Harbor Capital LLC acquired a new position in Roku during the 1st quarter valued at about $344,000. Finally, Smith Group Asset Management LLC lifted its position in Roku by 24.3% during the 1st quarter. Smith Group Asset Management LLC now owns 16,022 shares of the company’s stock valued at $1,516,000 after purchasing an additional 3,131 shares during the period. 86.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ROKU has been the topic of several analyst reports. Piper Sandler upped their target price on shares of Roku from $140.00 to $148.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. UBS Group reaffirmed an “outperform” rating and issued a $145.00 target price on shares of Roku in a report on Friday, May 1st. Oppenheimer upped their target price on shares of Roku from $105.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, February 13th. KeyCorp upped their price target on shares of Roku from $140.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Finally, Morgan Stanley reiterated an “overweight” rating and set a $150.00 price target on shares of Roku in a research report on Friday, May 1st. Twenty-one investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $143.42.

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.