Roku, Inc. (NASDAQ:ROKU) CEO Sells $1,875,000.00 in Stock

Roku, Inc. (NASDAQ:ROKU) CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $75.00, for a total value of $1,875,000.00. Following the transaction, the chief executive officer now directly owns 5,020 shares in the company, valued at approximately $376,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Roku Stock Performance

NASDAQ ROKU traded up $0.56 during trading hours on Friday, reaching $74.69. The company’s stock had a trading volume of 3,085,749 shares, compared to its average volume of 4,606,865. The company’s 50-day moving average is $61.63 and its two-hundred day moving average is $60.66. Roku, Inc. has a fifty-two week low of $48.33 and a fifty-two week high of $108.84. The stock has a market cap of $10.81 billion, a PE ratio of -18.65 and a beta of 2.06.

Roku (NASDAQ:ROKU) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.21. Roku had a negative net margin of 13.16% and a negative return on equity of 21.03%. The business had revenue of $968.18 million during the quarter, compared to analysts’ expectations of $937.78 million. During the same period last year, the company posted ($0.76) EPS. The company’s revenue was up 14.3% on a year-over-year basis. Equities analysts expect that Roku, Inc. will post -1.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Wells Fargo & Company raised Roku from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $50.00 to $72.00 in a research report on Thursday, September 5th. Wedbush reaffirmed an “outperform” rating and set a $75.00 price target on shares of Roku in a report on Friday, August 2nd. Benchmark reissued a “buy” rating and issued a $105.00 price objective on shares of Roku in a research note on Thursday. Needham & Company LLC restated a “buy” rating and issued a $100.00 target price on shares of Roku in a research note on Friday. Finally, Guggenheim raised shares of Roku from a “neutral” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Friday, August 23rd. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $78.25.

Hedge Funds Weigh In On Roku

Several hedge funds have recently bought and sold shares of the stock. Granite Bay Wealth Management LLC acquired a new stake in shares of Roku during the second quarter valued at $1,142,000. Quarry LP lifted its holdings in Roku by 127.9% in the 2nd quarter. Quarry LP now owns 1,682 shares of the company’s stock valued at $101,000 after purchasing an additional 944 shares in the last quarter. Algert Global LLC boosted its stake in shares of Roku by 144.4% during the 2nd quarter. Algert Global LLC now owns 55,177 shares of the company’s stock worth $3,307,000 after purchasing an additional 32,603 shares during the last quarter. Empirical Capital Management LLC grew its holdings in shares of Roku by 10.0% during the second quarter. Empirical Capital Management LLC now owns 177,000 shares of the company’s stock worth $10,608,000 after buying an additional 16,031 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Roku in the second quarter valued at approximately $3,437,000. Hedge funds and other institutional investors own 86.30% of the company’s stock.

About Roku

Roku, Inc, together with its subsidiaries, operates a TV streaming platform in the United states and internationally. The company operates in two segments, Platform and Devices. Its streaming platform allows users to find and access TV shows, movies, news, sports, and others. The Platform segment offers digital advertising, including direct and programmatic video advertising, media and entertainment promotional spending, and related services; and streaming services distribution, such as subscription and transaction revenue shares, and sale of premium subscriptions and branded app buttons on remote controls.