Independent Financial Group LLC Takes Position in Roku, Inc. $ROKU

by · The Markets Daily

Independent Financial Group LLC purchased a new stake in shares of Roku, Inc. (NASDAQ:ROKU – Free Report) during the first quarter, Holdings Channel.com reports. The fund purchased 17,124 shares of the company’s stock, valued at approximately $1,620,000.

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

Roku Stock Performance

NASDAQ:ROKU opened at $144.43 on Monday. The stock has a market capitalization of $21.29 billion, a PE ratio of 108.59 and a beta of 2.01. The firm’s 50 day moving average is $132.72 and its 200 day moving average is $112.55. Roku, Inc. has a 12 month low of $78.53 and a 12 month high of $148.88.

Roku (NASDAQ:ROKU – Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.34 by $0.23. Roku had a return on equity of 7.64% and a net margin of 4.06%.The business 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) earnings per share. Roku’s revenue for the quarter was up 22.4% on a year-over-year basis. Research analysts predict that Roku, Inc. will post 2.41 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. KeyCorp lowered Roku from an “overweight” rating to a “sector weight” rating in a report on Monday, June 15th. Susquehanna downgraded Roku from a “positive” rating to a “neutral” rating and set a $160.00 price objective for the company. in a research note on Tuesday, June 16th. Citizens Jmp lowered Roku from a “market outperform” rating to a “hold” rating in a research report on Tuesday, June 16th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Roku in a research note on Friday, May 15th. Finally, Wedbush downgraded shares of Roku from an “outperform” rating to a “neutral” rating and set a $155.00 price target on the stock. in a report on Tuesday, June 16th. Ten analysts have rated the stock with a Buy rating and seventeen have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Roku presently has a consensus rating of “Hold” and an average target price of $155.12.

View Our Latest Stock Analysis on ROKU

Insider Transactions at Roku

In other news, CAO Matthew C. Banks sold 554 shares of the company’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $138.88, for a total transaction of $76,939.52. Following the transaction, the chief accounting officer owned 7,171 shares of the company’s stock, valued at $995,908.48. This represents a 7.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mustafa Ozgen sold 10,194 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $144.00, for a total value of $1,467,936.00. Following the transaction, the insider owned 19,185 shares of the company’s stock, valued at $2,762,640. The trade was a 34.70% 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. Over the last 90 days, insiders sold 236,499 shares of company stock valued at $30,582,963. 13.45% of the stock is currently owned by insiders.

About Roku

(Free Report)

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.

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