R Squared Ltd Buys 4,009 Shares of Roku, Inc. $ROKU

R Squared Ltd bought a new position in shares of Roku, Inc. (NASDAQ:ROKU) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 4,009 shares of the company’s stock, valued at approximately $610,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ROKU. Signature Equity Partners LLC grew its position in shares of Roku by 1,225.0% in the 3rd quarter. Signature Equity Partners LLC now owns 212 shares of the company’s stock valued at $32,000 after acquiring an additional 196 shares during the period. CX Institutional increased its stake in shares of Roku by 44.1% during the 3rd quarter. CX Institutional now owns 281 shares of the company’s stock worth $43,000 after purchasing an additional 86 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Roku during the 3rd quarter worth about $46,000. Elevation Wealth Partners LLC raised its holdings in shares of Roku by 208.7% in the 2nd quarter. Elevation Wealth Partners LLC now owns 318 shares of the company’s stock valued at $44,000 after purchasing an additional 215 shares during the period. Finally, Jacobi Capital Management LLC bought a new stake in shares of Roku in the 3rd quarter valued at about $89,000. 86.30% of the stock is owned by institutional investors.

Roku Price Performance

Shares of ROKU opened at $159.65 on Friday. The firm has a market capitalization of $23.69 billion, a PE ratio of 47.23 and a beta of 2.12. The company’s 50-day moving average is $155.55 and its 200-day moving average is $129.99. Roku, Inc. has a fifty-two week low of $78.53 and a fifty-two week high of $163.57.

Roku (NASDAQ:ROKU) last posted its earnings results on Monday, November 2nd. The company reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.65. The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Roku had a net margin of 9.34% and a return on equity of 18.65%. Roku’s quarterly revenue was up 24.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.16 EPS. Analysts predict that Roku, Inc. will post 3.17 earnings per share for the current fiscal year.

Roku News Summary

Investors following ROKU have been watching these news items:

• Positive Sentiment: Roku is ending its smart-home product business after about four years to concentrate resources on streaming. A tighter focus could support execution in its core market, though the articles provide no estimate of cost savings or business impact. Roku is dumping its smart home products to refocus on streaming
• Neutral Sentiment: Several reports say Fox has purchased Roku. The headlines do not specify transaction terms or what the deal means for shareholders, so its financial implications cannot be assessed from the available information. Fox owns Roku now: Here’s what to expect
• Negative Sentiment: Discontinuing smart-home devices removes a product line and could limit Roku’s diversification beyond streaming, although the articles do not quantify its contribution to revenue or profit. Roku bails out of Smart Home market after four years

Insider Activity

In other Roku news, insider Gilbert Fuchsberg sold 4,824 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $155.64, for a total transaction of $750,807.36. Following the completion of the sale, the insider directly owned 40,168 shares in the company, valued at $6,251,747.52. This trade represents a 10.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 business’s stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $152.84, for a total value of $1,069,880.00. Following the sale, the chief financial officer owned 67,811 shares of the company’s stock, valued at approximately $10,364,233.24. This represents a 9.36% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 88,028 shares of company stock valued at $13,645,922. Company insiders own 13.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ROKU shares. UBS Group lifted 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. Zacks Research raised Roku from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 11th. Rosenblatt Securities lowered Roku from a “buy” rating to a “hold” rating and set a $160.00 price objective on the stock. in a research note on Tuesday, November 3rd. BMO Capital Markets raised Roku from a “market perform” rating to an “outperform” rating in a research report on Tuesday, November 3rd. Finally, Citigroup raised their price objective on Roku from $120.00 to $157.00 and gave the company a “neutral” rating in a research report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seventeen have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Roku currently has an average rating of “Hold” and a consensus target price of $156.22.

Roku Company Profile

Roku, Inc. provides a streaming platform that connects viewers with television and other digital video content. Its products include streaming players and Roku-branded televisions, as well as the Roku operating system, which the company licenses to television manufacturers. Roku also operates a platform business that supports streaming services and advertisers. Its offerings include the Roku Channel, an ad-supported streaming service, and tools for distributing content and delivering advertising to viewers.