HBK Investments L P Buys Shares of 1,184,334 Roku, Inc. $ROKU

HBK Investments L P bought a new position in shares of Roku, Inc. (NASDAQ:ROKU) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,184,334 shares of the company’s stock, valued at approximately $163,604,000. Roku accounts for approximately 1.6% of HBK Investments L P’s investment portfolio, making the stock its 15th largest holding.

Other institutional investors and hedge funds also recently modified their holdings of the company. Jefferies Financial Group Inc. bought a new position in Roku in the fourth quarter worth about $1,345,000. Moran Wealth Management LLC bought a new position in shares of Roku during the first quarter valued at approximately $2,990,000. Bank of New York Mellon Corp bought a new position in shares of Roku during the second quarter valued at approximately $105,216,000. Contravisory Investment Management Inc. acquired a new stake in shares of Roku during the 2nd quarter worth approximately $1,184,000. Finally, California Public Employees Retirement System raised its position in shares of Roku by 14.8% during the 1st quarter. California Public Employees Retirement System now owns 260,774 shares of the company’s stock worth $24,674,000 after purchasing an additional 33,593 shares during the period. 86.30% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on ROKU shares. UBS Group raised their price target on Roku from $126.00 to $172.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. Robert W. Baird reaffirmed a “neutral” rating and issued a $160.00 target price on shares of Roku in a research report on Monday, June 15th. Piper Sandler cut Roku from an “overweight” rating to a “neutral” rating and raised their target price for the company from $148.00 to $160.00 in a research note on Tuesday, June 16th. Rosenblatt Securities reiterated a “buy” rating and issued a $160.00 target price on shares of Roku in a research note on Monday, August 10th. Finally, KeyCorp downgraded shares of Roku from an “overweight” rating to a “sector weight” rating in a report on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and nineteen have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $156.17.

Roku Stock Performance

Shares of NASDAQ:ROKU traded down $1.50 during trading hours on Wednesday, hitting $155.12. The stock had a trading volume of 2,187,629 shares, compared to its average volume of 3,490,726. The stock’s fifty day simple moving average is $150.64 and its 200 day simple moving average is $128.22. Roku, Inc. has a 1-year low of $78.53 and a 1-year high of $159.89. The firm has a market capitalization of $23.02 billion, a price-to-earnings ratio of 66.29 and a beta of 2.05.

Roku (NASDAQ:ROKU) last issued its quarterly earnings data on Thursday, August 6th. The company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.47. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.30 billion. Roku had a return on equity of 13.73% and a net margin of 6.82%.The business’s revenue was up 21.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.07 earnings per share. As a group, research analysts anticipate that Roku, Inc. will post 2.85 EPS for the current year.

Insider Transactions at Roku

In other news, insider Mustafa Ozgen sold 3,410 shares of the stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $155.64, for a total value of $530,732.40. Following the completion of the transaction, the insider owned 25,569 shares of the company’s stock, valued at approximately $3,979,559.16. This represents a 11.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Dan Jedda sold 7,000 shares of the stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $156.81, for a total value of $1,097,670.00. Following the completion of the transaction, the chief financial officer directly owned 74,811 shares of the company’s stock, valued at approximately $11,731,112.91. The trade was a 8.56% decrease in their position. 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 sold 112,285 shares of company stock worth $16,939,414 over the last quarter. Insiders own 13.45% of the company’s stock.

About Roku

Roku, Inc (NASDAQ: ROKU) operates a television streaming platform that connects consumers with digital entertainment. Its Roku operating system powers streaming players, Roku-branded televisions and smart-TV products made by licensing partners. The platform provides access to streaming services, live television, movies, music and other applications.

The company also operates The Roku Channel, its own ad-supported streaming service offering licensed and original content, including movies, television programs, live channels and premium subscription options.