Trek Financial LLC Takes $7.34 Million Position in Roku, Inc. $ROKU

Trek Financial LLC purchased a new position in shares of Roku, Inc. (NASDAQ:ROKU) in the 2nd quarter, Holdings Channel reports. The fund purchased 83,463 shares of the company’s stock, valued at approximately $7,336,000.

Other large investors have also modified their holdings of the company. Cetera Investment Advisers lifted its position in Roku by 1.4% in the 1st quarter. Cetera Investment Advisers now owns 43,707 shares of the company’s stock valued at $3,079,000 after purchasing an additional 622 shares during the last quarter. XTX Topco Ltd bought a new position in Roku in the 1st quarter worth about $225,000. Blair William & Co. IL increased its stake in shares of Roku by 14.7% in the first quarter. Blair William & Co. IL now owns 45,727 shares of the company’s stock valued at $3,221,000 after purchasing an additional 5,869 shares during the period. Maxi Investments CY Ltd increased its stake in shares of Roku by 22.8% in the first quarter. Maxi Investments CY Ltd now owns 15,347 shares of the company’s stock valued at $1,081,000 after purchasing an additional 2,847 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of Roku by 2.1% during the first quarter. Vanguard Group Inc. now owns 12,503,595 shares of the company’s stock valued at $880,753,000 after buying an additional 254,504 shares during the last quarter. Institutional investors and hedge funds own 86.30% of the company’s stock.

Wall Street Analysts Forecast Growth

ROKU has been the subject of a number of recent analyst reports. Benchmark reissued a “buy” rating on shares of Roku in a report on Monday, October 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Roku in a research report on Wednesday, October 8th. JMP Securities reissued a “market outperform” rating and issued a $145.00 price target on shares of Roku in a research note on Thursday, October 2nd. Pivotal Research raised their price target on Roku from $120.00 to $135.00 and gave the company a “buy” rating in a report on Monday, November 3rd. Finally, Raymond James Financial restated a “market perform” rating on shares of Roku in a research note on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $112.68.

Roku Stock Up 1.8%

Shares of ROKU stock opened at $98.26 on Wednesday. The stock has a 50-day simple moving average of $99.04 and a 200 day simple moving average of $91.08. The stock has a market capitalization of $14.52 billion, a P/E ratio of -491.28 and a beta of 1.98. Roku, Inc. has a fifty-two week low of $52.43 and a fifty-two week high of $116.66.

Roku (NASDAQ:ROKU) last issued its quarterly earnings results on Thursday, October 30th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.07 by $0.09. Roku had a negative net margin of 0.61% and a negative return on equity of 1.08%. The firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.21 billion. During the same period in the previous year, the business earned ($0.06) earnings per share. Roku’s revenue for the quarter was up 14.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Roku, Inc. will post -0.3 earnings per share for the current year.

Insiders Place Their Bets

In other news, CAO Matthew C. Banks sold 719 shares of the stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $95.09, for a total transaction of $68,369.71. Following the completion of the sale, the chief accounting officer owned 7,285 shares in the company, valued at approximately $692,730.65. This represents a 8.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Anthony J. Wood sold 50,000 shares of the firm’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $103.86, for a total value of $5,193,000.00. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 498,733 shares of company stock worth $52,273,682. Company insiders own 13.98% of the company’s stock.

Roku Profile

Roku, Inc, together with its subsidiaries, operates a TV streaming platform in the United states and internationally. The company operates in two segments, Platform and Devices. Its streaming platform allows users to find and access TV shows, movies, news, sports, and others. The Platform segment offers digital advertising, including direct and programmatic video advertising, media and entertainment promotional spending, and related services; and streaming services distribution, such as subscription and transaction revenue shares, and sale of premium subscriptions and branded app buttons on remote controls.