Monetta Financial Services Inc. purchased a new position in shares of Roku, Inc. (NASDAQ:ROKU – Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 15,000 shares of the company’s stock, valued at approximately $2,072,000. Roku accounts for about 1.4% of Monetta Financial Services Inc.’s portfolio, making the stock its 19th biggest position.
A number of other large investors also recently modified their holdings of ROKU. Empowered Funds LLC grew its position in Roku by 18.6% in the 1st quarter. Empowered Funds LLC now owns 3,291 shares of the company’s stock valued at $232,000 after buying an additional 515 shares in the last quarter. Focus Partners Wealth bought a new stake in shares of Roku during the 1st quarter worth about $229,000. EverSource Wealth Advisors LLC raised its position in shares of Roku by 145.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,394 shares of the company’s stock worth $123,000 after buying an additional 826 shares in the last quarter. First Trust Advisors LP lifted its stake in shares of Roku by 231.0% in the 2nd quarter. First Trust Advisors LP now owns 70,786 shares of the company’s stock worth $6,221,000 after acquiring an additional 49,399 shares during the period. Finally, Brown Advisory Inc. acquired a new stake in shares of Roku in the 2nd quarter worth approximately $326,000. 86.30% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
ROKU has been the topic of a number of research analyst reports. Weiss Ratings upgraded shares of Roku from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Rosenblatt Securities reaffirmed a “buy” rating and set a $160.00 price target on shares of Roku in a research note on Monday, August 10th. Benchmark lifted their price target on Roku from $130.00 to $160.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Wells Fargo & Company reissued an “equal weight” rating and issued a $165.00 price objective (down from $167.00) on shares of Roku in a research note on Friday, August 14th. Finally, Zacks Research upgraded Roku from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and nineteen have assigned a Hold rating to the stock. According to data from MarketBeat, Roku has a consensus rating of “Hold” and an average price target of $156.17.
Roku Stock Performance
Shares of NASDAQ:ROKU opened at $156.80 on Thursday. The stock has a market capitalization of $23.27 billion, a price-to-earnings ratio of 67.01 and a beta of 2.01. Roku, Inc. has a 1-year low of $78.53 and a 1-year high of $159.69. The company has a 50 day moving average price of $143.42 and a 200 day moving average price of $119.24.
Roku (NASDAQ:ROKU – Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.47. The company had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.30 billion. Roku had a return on equity of 13.73% and a net margin of 6.82%.The firm’s revenue was up 21.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.07 earnings per share. On average, sell-side analysts expect that Roku, Inc. will post 2.82 EPS for the current fiscal year.
Insiders Place Their Bets
In related news, 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 completion of the transaction, the insider owned 19,185 shares in the company, valued at $2,762,640. This trade represents a 34.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Charles Collier sold 20,538 shares of Roku stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $142.51, for a total value of $2,926,870.38. Following the completion of the transaction, the insider directly owned 15,200 shares in the company, valued at $2,166,152. This represents a 57.47% 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 ninety days, insiders sold 162,452 shares of company stock worth $22,052,982. Corporate insiders own 13.45% of the company’s stock.
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.
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