The CEO sale is small and likely liquidity-driven following a derivative conversion and strong earnings. No bearish signal — the cluster is too small to move the stock. Monitor for larger insider sales or any change in the buyback pace. The Q2 2026 guidance ($1.295B revenue, $90M net income) is the key catalyst to watch.
Price Chart
Executive Summary
CEO Anthony Wood sold $4.44M of Roku stock on May 11, 2026, following a strong Q1 earnings report (revenue +22% YoY, net income $86M). The sale was preceded by a derivative conversion (non-cash) and occurred 13 days after earnings. President Charles Collier also sold $311K. While the cluster is notable for involving the CEO, the sale is small relative to Roku's $18.8B market cap (~0.024%) and follows a period of strong stock performance. The historical calibration shows insider clusters at Roku have been amplified by nearby earnings, but the dollar amount is too small to be material.
Key Financial Metrics
Key Facts
- CEO Anthony J. Wood sold 34,660 shares at $128.17 for $4.44M on May 11, 2026
- President Charles Collier sold 2,500 shares at $123.18 for $311K on May 4, 2026
- Total insider selling cluster value: $4.75M, representing ~0.025% of Roku's $18.8B market cap
- Wood also converted 75,000 derivative shares at $0 (non-cash) on the same day as the sale
- Q1 2026 earnings (filed Apr 30) showed revenue of $1.25B (+22% YoY), net income of $86M, and raised FY2026 revenue guidance to $5.535B
- Roku has an active $400M buyback program, with $250M repurchased since Q3 2025
Financial Impact
Total insider selling of $4.75M is trivial relative to Roku's $18.8B market cap (0.025%)
Risk Factors
- CEO selling after a strong earnings beat could be interpreted negatively by some investors
- Devices revenue declined 16% YoY, and subscriptions gross margin compressed 7.6 pts — structural headwinds in hardware and subscription economics
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-ROKU-1778711697512 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 9, 2026 22d ago | Insider Cluster | $154.12 $154.08 | ▼ −0.03% | ▲ +0.47% | $151.07 (−1.98%) |
Sep 3, 2026 28d ago | Insider Cluster | $155.59 $157.45 | ▲ +1.20% | ▲ +2.40% | $151.07 (−2.91%) |
Sep 1, 2026 4w ago | DEFM14A | $155.53 $152.90 | ▼ −1.69% | ▼ −1.77% | $151.07 (−2.87%) |
Aug 7, 2026 7w ago | Insider Cluster | $151.84 $158.31 | ▼ −4.26% | ▼ −4.31% | $151.07 (+0.51%) |
Aug 5, 2026 8w ago | Insider Cluster | $150.07 $153.68 | ▲ +2.41% | ▲ +1.19% | $151.07 (+0.67%) |
Jul 7, 2026 12w ago | Insider Cluster | $141.21 $141.76 | ▲ +0.39% | ▼ −0.16% | $151.07 (+6.98%) |
Jul 2, 2026 13w ago | Insider Cluster | $142.43 $140.26 | ▼ −1.52% | ▼ −2.45% | $151.07 (+6.07%) |
Jun 18, 2026 15w ago | 8-K | $135.20 $135.40 | ▲ +0.15% | ▲ +2.22% | $151.07 (+11.74%) |
Jun 16, 2026 15w ago | Insider Cluster | $137.29 $135.93 | ▲ +0.99% | ▼ −0.05% | $151.07 (−10.04%) |
Jun 15, 2026 15w ago | 425 | $137.95 $135.06 | ▼ −2.10% | ▲ +0.13% | $151.07 (+9.51%) |
US Market Status
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