Hillsdale Investment Management Inc. Invests $3.86 Million in Roku, Inc. $ROKU

Hillsdale Investment Management Inc. purchased a new position in Roku, Inc. (NASDAQ:ROKU) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 38,500 shares of the company’s stock, valued at approximately $3,855,000.

Several other institutional investors also recently bought and sold shares of ROKU. Westfuller Advisors LLC purchased a new position in Roku in the third quarter worth about $30,000. Root Financial Partners LLC purchased a new stake in shares of Roku during the third quarter valued at approximately $33,000. Cornerstone Planning Group LLC increased its position in shares of Roku by 20,450.0% during the third quarter. Cornerstone Planning Group LLC now owns 411 shares of the company’s stock valued at $41,000 after acquiring an additional 409 shares in the last quarter. Rakuten Securities Inc. raised its holdings in Roku by 55.6% in the 2nd quarter. Rakuten Securities Inc. now owns 442 shares of the company’s stock worth $39,000 after acquiring an additional 158 shares during the last quarter. Finally, True Wealth Design LLC lifted its position in Roku by 859.7% in the 2nd quarter. True Wealth Design LLC now owns 595 shares of the company’s stock valued at $52,000 after acquiring an additional 533 shares in the last quarter. 86.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Arete Research set a $132.00 price target on Roku and gave the stock a “buy” rating in a research note on Monday, January 5th. Raymond James Financial reiterated a “market perform” rating on shares of Roku in a report on Friday, October 31st. Evercore restated an “outperform” rating and set a $150.00 target price on shares of Roku in a research note on Friday, February 13th. Citizens Jmp reiterated a “market outperform” rating and issued a $145.00 price target on shares of Roku in a research note on Tuesday, December 2nd. Finally, Wall Street Zen raised shares of Roku from a “hold” rating to a “buy” rating in a report on Sunday, December 7th. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $123.96.

Roku Stock Down 0.6%

Roku stock opened at $89.06 on Monday. Roku, Inc. has a 52-week low of $52.43 and a 52-week high of $116.66. The company has a market cap of $13.13 billion, a P/E ratio of 156.25 and a beta of 1.99. The business has a 50-day simple moving average of $102.37 and a two-hundred day simple moving average of $99.10.

Roku (NASDAQ:ROKU) last issued its quarterly earnings data on Thursday, February 12th. The company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.25. The firm had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.35 billion. Roku had a net margin of 1.87% and a return on equity of 3.40%. The business’s quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.24) EPS. Research analysts anticipate that Roku, Inc. will post -0.3 EPS for the current fiscal year.

Insider Buying and Selling at Roku

In other news, Director Neil D. Hunt sold 2,000 shares of the business’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $96.48, for a total transaction of $192,960.00. Following the completion of the sale, the director owned 7,782 shares of the company’s stock, valued at $750,807.36. The trade was a 20.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Dan Jedda sold 3,000 shares of the company’s stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $107.56, for a total value of $322,680.00. Following the completion of the sale, the chief financial officer owned 87,267 shares of the company’s stock, valued at $9,386,438.52. This trade represents a 3.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 219,710 shares of company stock worth $22,761,608. 13.98% of the stock is owned by insiders.

Roku Company Profile

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.