Matthew C. Banks Sells 8,693 Shares of Roku, Inc. (NASDAQ:ROKU) Stock

Roku, Inc. (NASDAQ:ROKU) CAO Matthew C. Banks sold 8,693 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $71.44, for a total transaction of $621,027.92. Following the sale, the chief accounting officer now directly owns 7,264 shares in the company, valued at $518,940.16. The trade was a 54.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Roku Stock Performance

Shares of NASDAQ:ROKU opened at $68.71 on Thursday. Roku, Inc. has a 52-week low of $48.33 and a 52-week high of $108.84. The business’s 50 day simple moving average is $74.69 and its two-hundred day simple moving average is $64.94. The firm has a market cap of $9.98 billion, a P/E ratio of -57.26 and a beta of 2.07.

Roku (NASDAQ:ROKU) last issued its earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.29. The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Roku had a negative return on equity of 7.22% and a negative net margin of 4.42%. Roku’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same period last year, the business earned ($2.33) EPS. On average, equities analysts forecast that Roku, Inc. will post -1.1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ROKU. Rosenblatt Securities lifted their price target on shares of Roku from $61.00 to $86.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Piper Sandler lifted their target price on Roku from $60.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Wells Fargo & Company increased their price target on Roku from $72.00 to $74.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Benchmark reaffirmed a “buy” rating and issued a $105.00 price objective on shares of Roku in a research note on Thursday, September 12th. Finally, Moffett Nathanson raised shares of Roku from a “sell” rating to a “neutral” rating and set a $80.00 target price for the company in a research report on Tuesday, October 1st. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Roku has a consensus rating of “Moderate Buy” and a consensus target price of $84.67.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Raelipskie Partnership bought a new position in Roku in the 3rd quarter valued at about $32,000. Future Financial Wealth Managment LLC purchased a new stake in shares of Roku in the third quarter worth approximately $43,000. GS Investments Inc. lifted its holdings in shares of Roku by 33.4% in the third quarter. GS Investments Inc. now owns 587 shares of the company’s stock valued at $44,000 after purchasing an additional 147 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Roku by 123.4% during the second quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company’s stock valued at $40,000 after buying an additional 375 shares during the last quarter. Finally, Cedar Wealth Management LLC bought a new stake in Roku during the second quarter worth $48,000. 86.30% of the stock is currently owned by institutional investors and hedge funds.

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.