Roku, Inc. $ROKU Holdings Cut by Maverick Capital Ltd.

Maverick Capital Ltd. reduced its stake in Roku, Inc. (NASDAQ:ROKU) by 82.0% in the first quarter, HoldingsChannel.com reports. The fund owned 8,189 shares of the company’s stock after selling 37,382 shares during the quarter. Maverick Capital Ltd.’s holdings in Roku were worth $775,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in ROKU. Raleigh Capital Management Inc. raised its position in shares of Roku by 6.5% during the 1st quarter. Raleigh Capital Management Inc. now owns 1,522 shares of the company’s stock worth $144,000 after purchasing an additional 93 shares during the period. Apollon Wealth Management LLC boosted its position in Roku by 1.5% during the 4th quarter. Apollon Wealth Management LLC now owns 6,450 shares of the company’s stock valued at $700,000 after purchasing an additional 96 shares during the period. Quantum Portfolio Management LLC grew its stake in Roku by 2.6% during the 1st quarter. Quantum Portfolio Management LLC now owns 4,135 shares of the company’s stock worth $391,000 after buying an additional 105 shares during the last quarter. HB Wealth Management LLC grew its stake in Roku by 3.7% during the 1st quarter. HB Wealth Management LLC now owns 3,447 shares of the company’s stock worth $326,000 after buying an additional 122 shares during the last quarter. Finally, Quarry LP increased its position in Roku by 21.7% in the fourth quarter. Quarry LP now owns 689 shares of the company’s stock worth $75,000 after buying an additional 123 shares during the period. 86.30% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on ROKU shares. William Blair cut Roku from an “outperform” rating to a “market perform” rating in a research note on Monday, June 15th. Wedbush lowered shares of Roku from an “outperform” rating to a “neutral” rating and set a $155.00 price target for the company. in a research report on Tuesday, June 16th. Morgan Stanley increased their price objective on shares of Roku from $150.00 to $170.00 and gave the stock an “overweight” rating in a report on Thursday, June 4th. Benchmark lifted their price objective on shares of Roku from $130.00 to $160.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Finally, Evercore downgraded shares of Roku from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 15th. Ten research analysts have rated the stock with a Buy rating and seventeen have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $155.12.

Roku Stock Performance

NASDAQ:ROKU opened at $143.91 on Wednesday. The stock has a market cap of $21.22 billion, a price-to-earnings ratio of 108.20 and a beta of 2.01. Roku, Inc. has a 1 year low of $78.53 and a 1 year high of $148.88. The business has a fifty day moving average of $135.24 and a 200-day moving average of $114.15.

Roku (NASDAQ:ROKU) last issued its quarterly earnings data on Thursday, April 30th. The company reported $0.57 earnings per share for the quarter, beating 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 net margin of 4.06% and a return on equity of 7.64%. The company’s revenue was up 22.4% on a year-over-year basis. During the same period in the previous year, the business earned ($0.19) earnings per share. On average, equities research analysts predict that Roku, Inc. will post 2.41 EPS for the current year.

Insider Activity

In other Roku news, insider Charles Collier sold 20,538 shares of the firm’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $124.23, for a total transaction of $2,551,435.74. Following the transaction, the insider owned 7,700 shares of the company’s stock, valued at approximately $956,571. This trade represents a 72.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gilbert Fuchsberg sold 9,593 shares of the business’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $125.52, for a total transaction of $1,204,113.36. Following the sale, the insider owned 50,863 shares in the company, valued at $6,384,323.76. This trade represents a 15.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 236,499 shares of company stock worth $30,582,963 in the last 90 days. 13.45% of the stock is currently owned by corporate insiders.

Roku 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.