Insider Selling: Roku (NASDAQ:ROKU) Insider Sells $530,732.40 in Stock

Roku, Inc. (NASDAQ:ROKU) insider Mustafa Ozgen sold 3,410 shares of the business’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $155.64, for a total value of $530,732.40. Following the sale, the insider directly owned 25,569 shares of the company’s stock, valued at $3,979,559.16. This represents a 11.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Mustafa Ozgen also recently made the following trade(s):

• On Friday, June 12th, Mustafa Ozgen sold 10,194 shares of Roku stock. The stock was sold at an average price of $144.00, for a total transaction of $1,467,936.00.

Roku Stock Performance

ROKU opened at $155.59 on Friday. Roku, Inc. has a fifty-two week low of $78.53 and a fifty-two week high of $159.89. The firm’s fifty day moving average is $148.57 and its 200 day moving average is $124.70. The stock has a market cap of $23.09 billion, a price-to-earnings ratio of 66.49 and a beta of 2.05.

Roku (NASDAQ:ROKU) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.47. Roku had a return on equity of 13.73% and a net margin of 6.82%.The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same period in the prior year, the company posted $0.07 EPS. The firm’s revenue for the quarter was up 21.9% compared to the same quarter last year. On average, equities research analysts predict that Roku, Inc. will post 2.85 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Jefferies Financial Group downgraded shares of Roku from a “buy” rating to a “hold” rating and set a $160.00 price target for the company. in a report on Monday, June 15th. Seaport Research Partners lowered shares of Roku from a “buy” rating to a “neutral” rating in a report on Friday, August 7th. Evercore cut shares of Roku from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 15th. Weiss Ratings raised shares of Roku from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Finally, UBS Group raised their price objective on shares of Roku from $126.00 to $172.00 and gave the stock a “neutral” rating in a research note on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and nineteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $156.17.

Trending Headlines about Roku

Here are the key news stories impacting Roku this week:

• Positive Sentiment: Improving earnings outlook: Zacks assigned Roku a No. 1 “Strong Buy” ranking, citing upward EPS revisions. The rating follows Roku’s latest quarterly results, which exceeded consensus estimates for both earnings and revenue, with revenue rising 21.9% year over year. Bullish EPS Revisions Back IBKR, SNDK, and ROKU
• Positive Sentiment: Short-term technical momentum: ROKU recently moved above its 20-day moving average, suggesting improving near-term trading momentum and investor support. Roku Just Overtook the 20-Day Moving Average
• Positive Sentiment: Premium hardware expansion: Roku’s Pro Series OLED televisions, starting at $999, could improve its position in higher-end TV hardware and provide additional opportunities to monetize its platform. Roku’s $999 OLED Could Change How TV Makers Make Money
• Neutral Sentiment: Platform activity: Pluto TV launched a major update on Roku TVs and players, while the Roku Streaming Stick Plus returned to its prior Amazon price. These developments may support engagement and device demand, but their direct impact on near-term revenue is unclear. Pluto TV Rolls Out an Update on Roku Devices
• Neutral Sentiment: Consumer support coverage: Articles describing simple Roku troubleshooting steps and retail discounts for Roku TVs may help customer experience and product sales, but are unlikely to materially affect valuation. Common Roku Problems
• Negative Sentiment: Concentrated insider selling: Executives and directors sold a combined 20,846 shares worth roughly $3.25 million. The transactions were made under pre-arranged Rule 10b5-1 plans, and most covered tax withholding on vested equity awards, reducing the bearish significance. Still, the volume of selling may weigh on sentiment, particularly with ROKU near its annual high. Roku Insider Selling

Institutional Trading of Roku

A number of hedge funds have recently added to or reduced their stakes in ROKU. Bayban raised its stake in Roku by 1,300.0% in the first quarter. Bayban now owns 280 shares of the company’s stock worth $26,000 after buying an additional 260 shares in the last quarter. Safe Harbor Fiduciary LLC purchased a new position in shares of Roku in the 4th quarter valued at $31,000. Rakuten Securities Inc. boosted its position in Roku by 55.6% during the second quarter. Rakuten Securities Inc. now owns 442 shares of the company’s stock valued at $39,000 after purchasing an additional 158 shares in the last quarter. Elevation Wealth Partners LLC boosted its position in Roku by 208.7% during the second quarter. Elevation Wealth Partners LLC now owns 318 shares of the company’s stock valued at $44,000 after purchasing an additional 215 shares in the last quarter. Finally, Osbon Capital Management LLC purchased a new position in Roku in the fourth quarter valued at about $45,000. 86.30% of the stock is owned by hedge funds and other institutional investors.

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.