Roku, Inc. $ROKU Shares Sold by Highland Capital Management LLC

Highland Capital Management LLC trimmed its stake in shares of Roku, Inc. (NASDAQ:ROKU) by 12.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 70,499 shares of the company’s stock after selling 9,602 shares during the period. Highland Capital Management LLC’s holdings in Roku were worth $7,648,000 at the end of the most recent reporting period.

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

Roku Stock Up 2.0%

Shares of NASDAQ ROKU opened at $126.02 on Tuesday. The stock has a market capitalization of $18.58 billion, a price-to-earnings ratio of 94.75 and a beta of 2.04. The stock’s fifty day simple moving average is $100.40 and its 200 day simple moving average is $100.88. Roku, Inc. has a 52-week low of $58.77 and a 52-week high of $127.90.

Roku (NASDAQ:ROKU) last issued its earnings results on Thursday, April 30th. The company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.23. The business had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Roku had a return on equity of 7.68% and a net margin of 4.06%.The company’s quarterly revenue was up 22.4% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.19) EPS. As a group, analysts anticipate that Roku, Inc. will post 2.24 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on ROKU. Benchmark raised their price objective on Roku from $130.00 to $160.00 and gave the company a “buy” rating in a research note on Friday. Piper Sandler raised their price objective on Roku from $140.00 to $148.00 and gave the company an “overweight” rating in a research note on Friday. Needham & Company LLC raised their price objective on Roku from $110.00 to $140.00 and gave the company a “buy” rating in a research note on Friday. KeyCorp raised their price objective on Roku from $140.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Arete Research set a $132.00 price objective on Roku and gave the company a “buy” rating in a research note on Monday, January 5th. Twenty-one research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $142.17.

More Roku News

Here are the key news stories impacting Roku this week:

• Positive Sentiment: Q1 earnings beat — Roku beat top- and bottom-line estimates; platform revenue surged and free cash flow hit a record high on strong ad and subscription growth, driving the stock higher. ROKU Shares Rise 6% on Q1 Earnings Beat, Revenues and EPS Up Y/Y
• Positive Sentiment: Product/monetization push — Roku’s new low-cost streaming service “Howdy” ($3/month) expands subscription options and could boost ARPU and churn economics over time. Here’s Why Howdy, Roku’s Low-Cost Streaming Service, Is Worth Your $3/Month
• Neutral Sentiment: Investor attention and momentum — multiple outlets and Zacks note elevated investor interest and favorable momentum/style scores; this can amplify moves but also increase short-term volatility. Roku, Inc. (ROKU) is Attracting Investor Attention: Here is What You Should Know
• Neutral Sentiment: Valuation focus — recent strong returns have prompted fresh valuation analysis; higher multiples after the rally mean future upside may depend on sustained revenue/AD growth. Assessing Roku (ROKU) Valuation After A Strong Run In Recent Returns
• Negative Sentiment: Analyst note may cap near-term upside — Citigroup raised its price target to $120 but maintained a “neutral” rating; the PT sits below the current market level, signaling limited upside from here if the analyst view holds. Citigroup Raises Roku Price Target to $120 (Neutral)

Insiders Place Their Bets

In other Roku news, CEO Anthony J. Wood sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $99.68, for a total transaction of $4,984,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Dan Jedda sold 15,000 shares of the business’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $94.23, for a total transaction of $1,413,450.00. Following the completion of the transaction, the chief financial officer owned 85,115 shares in the company, valued at approximately $8,020,386.45. This trade represents a 14.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 630,182 shares of company stock valued at $66,865,773. Corporate insiders own 13.98% 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.