Roku Insiders Are Selling -- But Investors Shouldn't Worry
Roku's (NASDAQ: ROKU) streaming platform connects users to subscription services like Disney+ and Netflix, and free content like The Roku Channel, making it easy for viewers to watch their favorite TV shows and movies. So far this year, Roku's stock has been on fire, with shares are up more than 140% -- and amid that run-up, several Roku insiders, including CEO Anthony Wood, have recently sold a significant number of shares. But a closer look at the sales suggests that investors have no need to panic.
Roku has two different types of common stock: Class A and Class B. The only difference is that Class A shareholders get one vote per share, and Class B shareholders get 10. In April 2020, Roku published its annual proxy statement, which indicated that CEO Anthony Wood owned more than 52,000 Class A shares and 22.1 million Class B shares, giving him 68% voting power.
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Source Fool.com
