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

Roku, Inc. (NASDAQ:ROKU) CFO Dan Jedda sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $143.87, for a total transaction of $1,007,090.00. Following the transaction, the chief financial officer directly owned 79,963 shares in the company, valued at $11,504,276.81. This represents a 8.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 transaction 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 transaction of $749,000.00.

Roku Trading Down 2.1%

Shares of ROKU opened at $137.95 on Wednesday. Roku, Inc. has a 12 month low of $77.64 and a 12 month high of $148.88. The firm’s 50 day moving average is $120.40 and its 200-day moving average is $106.95. The stock has a market capitalization of $20.34 billion, a PE ratio of 103.72 and a beta of 2.06.

Roku (NASDAQ:ROKU) last announced its 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 for the quarter, compared to analysts’ expectations of $1.20 billion. Roku had a net margin of 4.06% and a return on equity of 7.64%. The business’s revenue for the quarter was up 22.4% on a year-over-year basis. During the same period last year, the firm earned ($0.19) earnings per share. Equities research analysts predict that Roku, Inc. will post 2.41 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on ROKU shares. Needham & Company LLC lifted their price objective on shares of Roku from $140.00 to $170.00 and gave the company a “buy” rating in a research note on Monday. Benchmark lifted their price objective on shares of Roku from $130.00 to $160.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Rosenblatt Securities lifted their price objective on shares of Roku from $150.00 to $160.00 and gave the company a “buy” rating in a research note on Tuesday. Robert W. Baird reissued a “neutral” rating and issued a $160.00 price objective on shares of Roku in a research note on Monday. Finally, William Blair cut shares of Roku from an “outperform” rating to a “market perform” rating in a research note on Monday. Eleven equities research analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Roku presently has an average rating of “Hold” and a consensus price target of $153.71.

Institutional Investors Weigh In On Roku

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Roku by 2.5% during the 3rd quarter. Vanguard Group Inc. now owns 12,998,674 shares of the company’s stock worth $1,301,557,000 after acquiring an additional 322,858 shares during the last quarter. AQR Capital Management LLC grew its position in Roku by 10.6% during the 4th quarter. AQR Capital Management LLC now owns 2,860,149 shares of the company’s stock worth $310,298,000 after acquiring an additional 274,024 shares during the last quarter. Geode Capital Management LLC grew its position in Roku by 7.3% during the 4th quarter. Geode Capital Management LLC now owns 2,464,130 shares of the company’s stock worth $267,389,000 after acquiring an additional 168,214 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in Roku by 229.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,038,347 shares of the company’s stock worth $192,868,000 after acquiring an additional 1,419,772 shares during the last quarter. Finally, Holocene Advisors LP grew its position in Roku by 352.3% during the 3rd quarter. Holocene Advisors LP now owns 1,650,448 shares of the company’s stock worth $165,259,000 after acquiring an additional 1,285,585 shares during the last quarter. Institutional investors own 86.30% of the company’s stock.

More Roku News

Here are the key news stories impacting Roku this week:

• Positive Sentiment: Fox agreed to buy Roku (ROKU) for about $22 billion, valuing shares at $160 each and giving Roku holders cash plus Fox stock; the deal has driven takeover speculation and a higher valuation for the company. Fox to buy Roku in $22 billion deal
• Positive Sentiment: Several Wall Street firms raised or reiterated bullish views on Roku (ROKU), including higher price targets around $160 to $175, supporting the stock after the acquisition news. Analyst updates on Roku
• Neutral Sentiment: Law firms have begun investigating whether the proposed Fox deal gives Roku (ROKU) shareholders a fair price, which adds some uncertainty but does not change the deal terms yet. Fairness investigation into Roku sale
• Negative Sentiment: Roku CFO Dan Jedda sold 7,000 shares under a pre-arranged trading plan, which may weigh on sentiment even though the sale was disclosed as routine. Roku insider sale

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.