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

Roku, Inc. (NASDAQ:ROKU) CFO Dan Jedda sold 7,000 shares of Roku stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $143.87, for a total value of $1,007,090.00. Following the completion of the transaction, the chief financial officer owned 79,963 shares of the company’s stock, valued at approximately $11,504,276.81. This represents a 8.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed 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 Friday, May 15th, Dan Jedda sold 7,000 shares of Roku stock. The stock was sold at an average price of $122.56, for a total value of $857,920.00.
• 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 value of $749,000.00.

Roku Stock Down 2.1%

ROKU traded down $2.95 on Tuesday, hitting $137.95. The company had a trading volume of 15,203,348 shares, compared to its average volume of 3,461,806. The company has a market cap of $20.34 billion, a PE ratio of 103.72 and a beta of 2.06. Roku, Inc. has a 12-month low of $77.64 and a 12-month high of $148.88. The business’s fifty day simple moving average is $119.60 and its 200 day simple moving average is $106.65.

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

More Roku News

Here are the key news stories impacting Roku this week:

• Positive Sentiment: Fox’s acquisition gives Roku shareholders a guaranteed cash-and-stock payout at $160 per share, which is supporting the stock and setting a valuation floor. Reuters article on Fox buying Roku
• Positive Sentiment: Wall Street has been lifting price targets and maintaining bullish ratings, with some analysts saying Roku still has upside around the deal price and could attract interest from other bidders. Analyst ratings coverage
• Neutral Sentiment: The deal reinforces Roku’s importance in connected-TV operating systems, ad tech, and ad-supported streaming, which may help justify the premium Fox is paying. CNBC article on Fox and Roku
• Neutral Sentiment: Multiple shareholder-law-firm investigations into whether the sale is fair could create some headline noise, but these probes typically do not change the announced transaction terms immediately. Global Newswire article on investigation

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ROKU. Blue Trust Inc. raised its stake in shares of Roku by 680.0% during the fourth quarter. Blue Trust Inc. now owns 234 shares of the company’s stock valued at $25,000 after acquiring an additional 204 shares in the last quarter. Aventura Private Wealth LLC bought a new stake in shares of Roku during the fourth quarter valued at approximately $26,000. Bayban raised its stake in shares of Roku by 1,300.0% during the first quarter. Bayban now owns 280 shares of the company’s stock valued at $26,000 after acquiring an additional 260 shares in the last quarter. WPG Advisers LLC bought a new stake in shares of Roku during the fourth quarter valued at approximately $31,000. Finally, Safe Harbor Fiduciary LLC bought a new stake in shares of Roku during the fourth quarter valued at approximately $31,000. Hedge funds and other institutional investors own 86.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Fox Advisors set a $160.00 price target on Roku in a research report on Tuesday. Morgan Stanley lifted their price target on Roku from $150.00 to $170.00 and gave the stock an “overweight” rating in a research report on Thursday, June 4th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $160.00 price target (up from $150.00) on shares of Roku in a research report on Tuesday. Weiss Ratings reiterated a “hold (c-)” rating on shares of Roku in a research report on Friday, May 15th. Finally, Piper Sandler lowered Roku from an “overweight” rating to a “neutral” rating and boosted their target price for the company from $148.00 to $160.00 in a research report on Tuesday. Thirteen equities research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $151.56.

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.