Anthony Wood Sells 18,000 Shares of Roku (NASDAQ:ROKU) Stock

Roku, Inc. (NASDAQ:ROKU) CEO Anthony Wood sold 18,000 shares of the stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $118.55, for a total value of $2,133,900.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Roku Price Performance

NASDAQ ROKU opened at $143.66 on Friday. The business has a 50 day simple moving average of $118.73 and a 200 day simple moving average of $106.23. Roku, Inc. has a one year low of $73.91 and a one year high of $148.88. The stock has a market capitalization of $21.18 billion, a P/E ratio of 108.02 and a beta of 2.06.

Roku (NASDAQ:ROKU) last announced its quarterly earnings data on Thursday, April 30th. The company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.23. Roku had a return on equity of 7.64% and a net margin of 4.06%.The firm had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter last year, the firm posted ($0.19) earnings per share. The company’s revenue for the quarter was up 22.4% compared to the same quarter last year. Equities analysts expect that Roku, Inc. will post 2.41 earnings per share for the current year.

Key Stories Impacting Roku

Here are the key news stories impacting Roku this week:

• Positive Sentiment: Roku is reportedly in sale talks, including a possible media tie-up, which could signal a strategic transaction or premium valuation if a deal materializes. Roku said to be in sale talks, including likely media tie-up, Bloomberg News reports
• Positive Sentiment: Evercore ISI raised its price target to $185 from $160 and kept a bullish rating, reinforcing optimism around Roku’s monetization efforts in its home screen and advertising-tech initiatives. Roku shares jump as fresh bullish analyst notes extend recent price-target hikes
• Positive Sentiment: Additional recent price-target hikes from firms like Morgan Stanley have added to the bullish analyst narrative, suggesting Wall Street sees more upside in Roku’s ad and platform strategy. Roku shares jump as fresh bullish analyst notes extend recent price-target hikes
• Neutral Sentiment: Several media stories highlighted Roku’s expanding free channels and consumer product discounts, but these appear more promotional than material fundamental catalysts. Roku Quietly Added Four New Free Channels For The Month Of June
• Negative Sentiment: CEO Anthony Wood sold 18,000 shares in a pre-arranged trading plan, which may add some caution, although the sale was not necessarily a bearish signal. Roku (NASDAQ:ROKU) CEO Anthony Wood Sells 18,000 Shares

Hedge Funds Weigh In On Roku

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Roku by 2.5% during the third quarter. Vanguard Group Inc. now owns 12,998,674 shares of the company’s stock worth $1,301,557,000 after purchasing an additional 322,858 shares during the last quarter. AQR Capital Management LLC lifted its stake in Roku by 10.6% during the fourth quarter. AQR Capital Management LLC now owns 2,860,149 shares of the company’s stock worth $310,298,000 after purchasing an additional 274,024 shares during the last quarter. Geode Capital Management LLC lifted its stake in Roku by 7.3% during the fourth quarter. Geode Capital Management LLC now owns 2,464,130 shares of the company’s stock worth $267,389,000 after purchasing an additional 168,214 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Roku by 229.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,038,347 shares of the company’s stock worth $192,868,000 after purchasing an additional 1,419,772 shares during the last quarter. Finally, Holocene Advisors LP lifted its stake in Roku by 352.3% during the third quarter. Holocene Advisors LP now owns 1,650,448 shares of the company’s stock worth $165,259,000 after purchasing an additional 1,285,585 shares during the last quarter. 86.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on ROKU shares. Morgan Stanley lifted their price target on Roku from $150.00 to $170.00 and gave the stock an “overweight” rating in a report on Thursday, June 4th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Roku in a report on Friday, May 15th. UBS Group set a $170.00 price target on Roku in a report on Thursday, May 28th. Jefferies Financial Group lifted their price target on Roku from $135.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, April 13th. Finally, Pivotal Research reiterated a “buy” rating and set a $160.00 price target (up from $140.00) on shares of Roku in a report on Friday, May 1st. Twenty-two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $146.96.

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.