NINE MASTS CAPITAL Ltd acquired a new stake in Roku, Inc. (NASDAQ:ROKU – Free Report) in the 2nd quarter, Holdings Channel reports. The fund acquired 83,000 shares of the company’s stock, valued at approximately $11,466,000. Roku accounts for about 1.2% of NINE MASTS CAPITAL Ltd’s portfolio, making the stock its 15th largest holding.
A number of other institutional investors also recently bought and sold shares of ROKU. Bayban increased its stake in Roku by 1,300.0% during the 1st quarter. Bayban now owns 280 shares of the company’s stock valued at $26,000 after purchasing an additional 260 shares in the last quarter. Safe Harbor Fiduciary LLC purchased a new position in shares of Roku in the fourth quarter worth $31,000. Rakuten Securities Inc. lifted its stake in shares of Roku by 55.6% during the second quarter. Rakuten Securities Inc. now owns 442 shares of the company’s stock worth $39,000 after buying an additional 158 shares during the period. Elevation Wealth Partners LLC lifted its stake in shares of Roku by 208.7% during the second quarter. Elevation Wealth Partners LLC now owns 318 shares of the company’s stock worth $44,000 after buying an additional 215 shares during the period. Finally, Osbon Capital Management LLC purchased a new stake in shares of Roku during the fourth quarter valued at $45,000. 86.30% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. started coverage on Roku in a research report on Monday, August 24th. They issued a “neutral” rating and a $160.00 target price on the stock. Seaport Research Partners cut Roku from a “buy” rating to a “neutral” rating in a research report on Friday, August 7th. Wells Fargo & Company reiterated an “equal weight” rating and set a $165.00 price target (down from $167.00) on shares of Roku in a research note on Friday, August 14th. KeyCorp lowered Roku from an “overweight” rating to a “sector weight” rating in a report on Monday, June 15th. Finally, Morgan Stanley raised their price objective on Roku from $150.00 to $170.00 and gave the stock an “overweight” rating in a research note on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and nineteen have assigned a Hold rating to the company. According to MarketBeat.com, Roku has a consensus rating of “Hold” and an average price target of $156.17.
Insider Transactions at Roku
In other Roku news, CAO Matthew C. Banks sold 552 shares of the company’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $146.25, for a total transaction of $80,730.00. Following the completion of the transaction, the chief accounting officer directly owned 6,619 shares in the company, valued at approximately $968,028.75. This represents a 7.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Charles Collier sold 20,538 shares of the stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $145.93, for a total transaction of $2,997,110.34. Following the transaction, the insider directly owned 15,200 shares in the company, valued at approximately $2,218,136. The trade was a 57.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 160,452 shares of company stock worth $21,794,802 in the last ninety days. Company insiders own 13.45% of the company’s stock.
Roku Stock Performance
Shares of ROKU stock opened at $157.68 on Monday. The company has a market capitalization of $23.40 billion, a P/E ratio of 67.38 and a beta of 2.01. The business’s 50 day moving average is $146.41 and its two-hundred day moving average is $122.54. Roku, Inc. has a 12-month low of $78.53 and a 12-month high of $159.89.
Roku (NASDAQ:ROKU – Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.47. The business had revenue of $1.35 billion during 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 business’s revenue was up 21.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.07 earnings per share. On average, research analysts predict that Roku, Inc. will post 2.85 earnings per share for the current fiscal year.
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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