Weiss Asset Management LP Takes $447,000 Position in Roku, Inc. $ROKU

Weiss Asset Management LP bought a new position in shares of Roku, Inc. (NASDAQ:ROKU) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 4,723 shares of the company’s stock, valued at approximately $447,000.

Several other large investors also recently modified their holdings of ROKU. Empowered Funds LLC increased its holdings in Roku by 18.6% during the 1st quarter. Empowered Funds LLC now owns 3,291 shares of the company’s stock valued at $232,000 after purchasing an additional 515 shares during the period. Focus Partners Wealth bought a new position in Roku during the 1st quarter valued at approximately $229,000. EverSource Wealth Advisors LLC raised its position in Roku by 145.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,394 shares of the company’s stock valued at $123,000 after purchasing an additional 826 shares during the last quarter. First Trust Advisors LP lifted its holdings in Roku by 231.0% in the 2nd quarter. First Trust Advisors LP now owns 70,786 shares of the company’s stock worth $6,221,000 after buying an additional 49,399 shares during the period. Finally, Brown Advisory Inc. purchased a new stake in Roku in the 2nd quarter worth approximately $326,000. 86.30% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ROKU. Benchmark lifted their price objective on Roku from $130.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Morgan Stanley upped their target price on Roku from $150.00 to $170.00 and gave the company an “overweight” rating in a report on Thursday, June 4th. Wolfe Research lowered Roku from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, June 16th. Piper Sandler cut shares of Roku from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $148.00 to $160.00 in a report on Tuesday, June 16th. Finally, Oppenheimer downgraded shares of Roku from an “outperform” rating to a “market perform” rating in a research report on Monday, June 15th. Ten investment analysts have rated the stock with a Buy rating and seventeen have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $155.12.

Roku Price Performance

Shares of ROKU opened at $143.91 on Wednesday. The company has a 50-day simple moving average of $135.24 and a two-hundred day simple moving average of $114.15. The firm has a market capitalization of $21.22 billion, a PE ratio of 108.20 and a beta of 2.01. Roku, Inc. has a one year low of $78.53 and a one year high of $148.88.

Roku (NASDAQ:ROKU) last posted its earnings results on Thursday, April 30th. The company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.23. Roku had a return on equity of 7.64% and a net margin of 4.06%.The firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the prior year, the business earned ($0.19) EPS. The business’s revenue for the quarter was up 22.4% on a year-over-year basis. Analysts expect that Roku, Inc. will post 2.41 EPS for the current fiscal year.

Insider Activity at Roku

In other Roku news, insider Charles Collier sold 20,538 shares of the stock in a transaction on Monday, July 6th. The stock was sold at an average price of $142.51, for a total value of $2,926,870.38. Following the completion of the transaction, the insider owned 15,200 shares in the company, valued at approximately $2,166,152. This represents a 57.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Neil D. Hunt sold 2,000 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $140.65, for a total value of $281,300.00. Following the completion of the transaction, the director owned 9,629 shares of the company’s stock, valued at approximately $1,354,318.85. This trade represents a 17.20% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 236,499 shares of company stock valued at $30,582,963 over the last ninety days. Insiders own 13.45% of the company’s stock.

Roku Company Profile

Roku, Inc (NASDAQ: ROKU) is a technology company that develops and operates a proprietary streaming platform designed to deliver entertainment content to consumers via internet-connected devices and smart televisions. Since its inception in 2002 in California, Roku has focused on simplifying access to streaming services for viewers worldwide. The company’s platform enables users to discover, access and manage a wide array of over-the-top content from major streaming services, free ad-supported channels and niche providers.

At the core of Roku’s product lineup are a range of streaming players and sticks, which connect to televisions via HDMI and deliver the Roku OS experience.