Charles Collier, who serves as President of Roku Media, carried out a pair of offsetting transactions on April 8 that are detailed in a Form 4 filing with the Securities and Exchange Commission. On that date Collier sold 205,821 shares of Roku, Inc. (NASDAQ: ROKU) Class A Common Stock at a price of $105.00 per share, producing gross proceeds of roughly $21.6 million.
On the same day, Collier also acquired 205,821 shares of the company's Class A Common Stock through the exercise of employee stock options. The option exercises occurred at prices ranging from $49.59 to $103.54 and together represented an aggregate value of approximately $10.7 million based on those exercise prices.
The Form 4 filing shows that following these transactions Collier directly holds 11,131 shares of Roku Class A Common Stock. In addition to his direct holdings, he has an indirect interest in 600 shares held through the Charles D. Collier Revocable Trust.
Roku's share price has climbed significantly over the last year, up about 73% year-over-year. At the time the filing was noted, Roku shares were trading at $102.45 and the company carried a market capitalization of $15.17 billion.
Analyst coverage and market context
Roku has been the subject of recent analyst attention. Baird raised its price target to $120 while maintaining an Outperform rating and citing what it called strong execution. Separately, Citizens reiterated a Market Outperform rating and set a $160 price target, pointing to Roku’s scale in U.S. broadband households and its leading position in streaming hours as reported by Comscore. Piper Sandler maintained an Overweight rating with a $140 price target, noting expectations for new revenue and margin disclosures in an upcoming quarter. In another mention, Baird continued to emphasize Roku’s role in the fragmented sports streaming market while maintaining an Outperform rating and a $110 price target.
Additionally, analysis cited in the filing notes an InvestingPro Fair Value assessment that indicates Roku may be undervalued. The referenced research is described as part of a broader Pro Research Report covering Roku and more than 1,400 other U.S. equities.
Regulatory note
Roku is also facing scrutiny related to intellectual property. The U.S. International Trade Commission has opened a Section 337 investigation that names Roku and Hisense display devices and components as respondents. That probe was initiated after a petition by InnoTV Labs LLC alleging patent violations by certain imported devices.
These filings and market developments provide a snapshot of recent insider activity at Roku alongside ongoing analyst coverage and regulatory scrutiny. The transactions were recorded in the company’s required SEC Form 4 documentation and reflect both a significant cash sale and option exercises by an executive with remaining direct and indirect holdings disclosed in the filing.