Dan Jedda Sells 1,000 Shares of Roku, Inc. (NASDAQ:ROKU) Stock

Roku, Inc. (NASDAQ:ROKU) CFO Dan Jedda sold 1,000 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $75.33, for a total transaction of $75,330.00. Following the completion of the transaction, the chief financial officer now owns 54,267 shares of the company’s stock, valued at $4,087,933.11. The sale was disclosed in a document filed with the SEC, which is available through this link.

Roku Trading Down 1.8 %

NASDAQ:ROKU opened at $76.02 on Friday. The company has a market cap of $11.00 billion, a PE ratio of -19.05 and a beta of 2.06. The company has a 50 day simple moving average of $63.33 and a two-hundred day simple moving average of $61.15. Roku, Inc. has a 12 month low of $48.33 and a 12 month high of $108.84.

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

Hedge Funds Weigh In On Roku

Several institutional investors have recently made changes to their positions in ROKU. ARK Investment Management LLC grew its position in Roku by 1.3% during the second quarter. ARK Investment Management LLC now owns 12,716,432 shares of the company’s stock valued at $762,096,000 after buying an additional 159,785 shares during the period. Vanguard Group Inc. grew its position in shares of Roku by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 11,946,605 shares of the company’s stock valued at $778,560,000 after acquiring an additional 92,658 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Roku by 24.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,349,067 shares of the company’s stock worth $478,939,000 after purchasing an additional 1,457,925 shares in the last quarter. Nikko Asset Management Americas Inc. raised its holdings in Roku by 25.8% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 7,091,891 shares of the company’s stock worth $462,108,000 after purchasing an additional 1,455,408 shares during the period. Finally, Norges Bank purchased a new position in Roku during the fourth quarter valued at $90,386,000. Institutional investors own 86.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ROKU. Wells Fargo & Company upgraded shares of Roku from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $50.00 to $72.00 in a report on Thursday, September 5th. JPMorgan Chase & Co. upped their price target on Roku from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday. Wedbush reiterated an “outperform” rating and set a $75.00 price objective on shares of Roku in a research note on Friday, August 2nd. Macquarie cut their target price on Roku from $88.00 to $72.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Finally, Benchmark restated a “buy” rating and set a $105.00 price target on shares of Roku in a report on Thursday, September 12th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Roku currently has a consensus rating of “Hold” and an average price target of $78.75.

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.