Quarry LP Raises Stake in Roku, Inc. (NASDAQ:ROKU)

Quarry LP boosted its holdings in Roku, Inc. (NASDAQ:ROKU) by 127.9% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,682 shares of the company’s stock after purchasing an additional 944 shares during the quarter. Quarry LP’s holdings in Roku were worth $101,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in ROKU. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Roku by 24.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,349,067 shares of the company’s stock worth $478,939,000 after buying an additional 1,457,925 shares during the last quarter. Nikko Asset Management Americas Inc. grew its stake in shares of Roku by 25.8% in the first quarter. Nikko Asset Management Americas Inc. now owns 7,091,891 shares of the company’s stock worth $462,108,000 after acquiring an additional 1,455,408 shares during the last quarter. Quadrature Capital Ltd purchased a new position in shares of Roku in the 4th quarter worth about $35,856,000. Vanguard Group Inc. boosted its stake in Roku by 3.3% in the 4th quarter. Vanguard Group Inc. now owns 11,853,947 shares of the company’s stock worth $1,086,533,000 after purchasing an additional 380,409 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in Roku by 138.1% in the 1st quarter. Canada Pension Plan Investment Board now owns 342,400 shares of the company’s stock worth $22,314,000 after purchasing an additional 198,600 shares in the last quarter. Institutional investors own 86.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Citigroup upped their target price on shares of Roku from $60.00 to $77.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. Moffett Nathanson upgraded Roku from a “sell” rating to a “neutral” rating and set a $80.00 target price on the stock in a research note on Tuesday. Rosenblatt Securities decreased their price target on Roku from $89.00 to $61.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Macquarie lowered their price target on Roku from $88.00 to $72.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Finally, Wolfe Research upgraded Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 price objective for the company in a report on Thursday, September 12th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $80.29.

Insider Buying and Selling

In related news, CFO Dan Jedda sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $75.33, for a total value of $75,330.00. Following the transaction, the chief financial officer now directly owns 54,267 shares of the company’s stock, valued at approximately $4,087,933.11. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $75.00, for a total value of $1,875,000.00. Following the sale, the chief executive officer now directly owns 5,020 shares of the company’s stock, valued at $376,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Dan Jedda sold 1,000 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $75.33, for a total value of $75,330.00. Following the completion of the sale, the chief financial officer now owns 54,267 shares in the company, valued at $4,087,933.11. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 46,945 shares of company stock worth $3,465,135. 13.98% of the stock is owned by corporate insiders.

Roku Stock Down 0.4 %

ROKU stock opened at $74.34 on Wednesday. The business’s 50-day moving average price is $64.68 and its 200-day moving average price is $61.58. The stock has a market cap of $10.76 billion, a P/E ratio of -18.63 and a beta of 2.06. Roku, Inc. has a twelve month low of $48.33 and a twelve month high of $108.84.

Roku (NASDAQ:ROKU) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.21. Roku had a negative net margin of 13.16% and a negative return on equity of 21.03%. The firm had revenue of $968.18 million during the quarter, compared to analysts’ expectations of $937.78 million. The company’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.76) earnings per share. On average, equities research analysts expect that Roku, Inc. will post -1.44 earnings per share for the current fiscal year.

Roku Company 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.