Neil Hunt Sells 2,000 Shares of Roku (NASDAQ:ROKU) Stock

Roku, Inc. (NASDAQ:ROKU) Director Neil Hunt sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $156.30, for a total value of $312,600.00. Following the completion of the sale, the director directly owned 9,629 shares in the company, valued at approximately $1,505,012.70. The trade was a 17.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Roku Price Performance

Roku stock opened at $155.59 on Friday. The stock has a market capitalization of $23.09 billion, a PE ratio of 66.49 and a beta of 2.05. The business has a 50 day simple moving average of $148.57 and a 200-day simple moving average of $124.70. Roku, Inc. has a 12 month low of $78.53 and a 12 month high of $159.89.

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

Wall Street Analyst Weigh In

ROKU has been the topic of a number of research reports. Piper Sandler lowered shares of Roku from an “overweight” rating to a “neutral” rating and raised their price target for the company from $148.00 to $160.00 in a research note on Tuesday, June 16th. Citizens Jmp lowered Roku from a “market outperform” rating to a “hold” rating in a research note on Tuesday, June 16th. Jefferies Financial Group cut Roku from a “buy” rating to a “hold” rating and set a $160.00 price target for the company. in a research report on Monday, June 15th. UBS Group increased their price objective on Roku from $126.00 to $172.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $160.00 target price on shares of Roku in a research note on Monday, June 15th. One equities research 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 stock. Based on data from MarketBeat, Roku has an average rating of “Hold” and an average target price of $156.17.

Key Roku News

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 Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. California State Teachers Retirement System increased its position in Roku by 13,741.7% during the second quarter. California State Teachers Retirement System now owns 20,912,738 shares of the company’s stock worth $2,888,886,000 after purchasing an additional 20,761,653 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Roku by 10.6% in the 4th quarter. AQR Capital Management LLC now owns 2,860,149 shares of the company’s stock valued at $310,298,000 after purchasing an additional 274,024 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Roku by 7.3% in the 4th quarter. Geode Capital Management LLC now owns 2,464,130 shares of the company’s stock valued at $267,389,000 after buying an additional 168,214 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in shares of Roku by 229.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,038,347 shares of the company’s stock valued at $192,868,000 after buying an additional 1,419,772 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in shares of Roku by 22.8% during the 1st quarter. Renaissance Technologies LLC now owns 1,565,100 shares of the company’s stock worth $148,090,000 after buying an additional 290,200 shares during the last quarter. Institutional investors and hedge funds own 86.30% of the company’s stock.

Roku Company Profile

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.