Maverick Capital Ltd. Makes New Investment in Roku Inc (NASDAQ:ROKU)

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Maverick Capital Ltd. bought a new stake in Roku Inc (NASDAQ:ROKU) in the third quarter, HoldingsChannel reports. The institutional investor bought 911 shares of the company’s stock, valued at approximately $93,000.

Other institutional investors have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Roku by 208.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,439 shares of the company’s stock worth $1,469,000 after purchasing an additional 9,761 shares during the period. Flagship Harbor Advisors LLC increased its holdings in shares of Roku by 51.8% in the 3rd quarter. Flagship Harbor Advisors LLC now owns 724 shares of the company’s stock valued at $73,000 after purchasing an additional 247 shares in the last quarter. LS Investment Advisors LLC purchased a new position in shares of Roku in the 3rd quarter valued at about $85,000. California Public Employees Retirement System lifted its stake in shares of Roku by 221.3% in the second quarter. California Public Employees Retirement System now owns 92,094 shares of the company’s stock valued at $8,342,000 after purchasing an additional 63,429 shares during the period. Finally, Oppenheimer & Co. Inc. lifted its stake in shares of Roku by 175.2% in the third quarter. Oppenheimer & Co. Inc. now owns 45,545 shares of the company’s stock valued at $4,635,000 after purchasing an additional 28,996 shares during the period. 53.06% of the stock is owned by institutional investors.

Shares of NASDAQ ROKU opened at $136.07 on Tuesday. Roku Inc has a 12-month low of $26.30 and a 12-month high of $176.55. The company has a market capitalization of $18.85 billion, a PE ratio of -1,700.88 and a beta of 1.73. The firm’s 50-day moving average is $143.22 and its two-hundred day moving average is $120.27.

Roku (NASDAQ:ROKU) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.06. Roku had a negative net margin of 3.77% and a negative return on equity of 9.79%. The business had revenue of $260.90 million for the quarter, compared to analyst estimates of $257.64 million. During the same period in the prior year, the business earned ($0.09) earnings per share. The company’s quarterly revenue was up 50.5% on a year-over-year basis. As a group, equities research analysts expect that Roku Inc will post -0.52 earnings per share for the current fiscal year.

In other Roku news, Director Alan S. Henricks sold 5,000 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $130.08, for a total transaction of $650,400.00. Following the completion of the transaction, the director now owns 10,222 shares of the company’s stock, valued at $1,329,677.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Anthony J. Wood sold 35,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $102.94, for a total value of $3,602,900.00. Insiders have sold a total of 267,120 shares of company stock valued at $38,098,547 over the last 90 days. Insiders own 22.70% of the company’s stock.

A number of analysts recently commented on the stock. Guggenheim decreased their price objective on shares of Roku from $170.00 to $150.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Bank of America increased their target price on shares of Roku from $150.00 to $160.00 and gave the company a “buy” rating in a report on Friday, November 15th. Vertical Group upgraded shares of Roku from a “mixed” rating to a “positive” rating in a research report on Wednesday, August 7th. DA Davidson boosted their price target on Roku from $135.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Finally, Oppenheimer boosted their price target on Roku from $120.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. Five analysts have rated the stock with a sell rating, two have issued a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $124.78.

About Roku

Roku, Inc operates a TV streaming platform. The company operates in two segments, Platform and Player. Its platform allows users to discover and access various movies and TV episodes, as well as live sports, music, news, and others. As of December 31, 2018, the company had 27.1 million active accounts.

Further Reading: Most Active Stocks

Want to see what other hedge funds are holding ROKU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Roku Inc (NASDAQ:ROKU).

Institutional Ownership by Quarter for Roku (NASDAQ:ROKU)

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