Weiss Asset Management LP Buys Shares of 4,723 Roku, Inc. $ROKU

Weiss Asset Management LP purchased a new position in Roku, Inc. (NASDAQ:ROKU) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 4,723 shares of the company’s stock, valued at approximately $447,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Empowered Funds LLC lifted its holdings in shares of Roku by 18.6% during the 1st quarter. Empowered Funds LLC now owns 3,291 shares of the company’s stock worth $232,000 after acquiring an additional 515 shares during the last quarter. Focus Partners Wealth bought a new position in Roku in the first quarter valued at $229,000. EverSource Wealth Advisors LLC raised its position in Roku by 145.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,394 shares of the company’s stock valued at $123,000 after purchasing an additional 826 shares in the last quarter. First Trust Advisors LP raised its position in Roku by 231.0% during the second quarter. First Trust Advisors LP now owns 70,786 shares of the company’s stock valued at $6,221,000 after purchasing an additional 49,399 shares in the last quarter. Finally, Brown Advisory Inc. bought a new stake in Roku during the second quarter worth about $326,000. Institutional investors own 86.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Morgan Stanley upped their price objective on Roku from $150.00 to $170.00 and gave the stock an “overweight” rating in a report on Thursday, June 4th. Needham & Company LLC raised their price objective on Roku from $140.00 to $170.00 and gave the company a “buy” rating in a report on Monday, June 15th. Robert W. Baird restated a “neutral” rating and issued a $160.00 target price on shares of Roku in a research report on Monday, June 15th. Pivotal Research reiterated a “buy” rating and set a $160.00 price target (up from $140.00) on shares of Roku in a research report on Friday, May 1st. Finally, Citigroup lifted their price target on shares of Roku from $120.00 to $157.00 and gave the stock a “neutral” rating in a research note on Friday, July 17th. Ten analysts have rated the stock with a Buy rating and seventeen have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $155.12.

Roku Trading Up 0.7%

Shares of NASDAQ:ROKU opened at $143.91 on Wednesday. The stock has a market capitalization of $21.22 billion, a P/E ratio of 108.20 and a beta of 2.01. The stock’s 50-day moving average price is $135.24 and its 200-day moving average price is $114.15. Roku, Inc. has a 12-month low of $78.53 and a 12-month high of $148.88.

Roku (NASDAQ:ROKU) last released its earnings results on Thursday, April 30th. The company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.23. The company had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.20 billion. Roku had a return on equity of 7.64% and a net margin of 4.06%.Roku’s revenue for the quarter was up 22.4% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.19) EPS. As a group, research analysts predict that Roku, Inc. will post 2.41 EPS for the current year.

Insiders Place Their Bets

In other Roku news, insider Charles Collier sold 20,538 shares of Roku stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $124.23, for a total value of $2,551,435.74. Following the transaction, the insider directly owned 7,700 shares of the company’s stock, valued at $956,571. The trade was a 72.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Dan Jedda sold 7,000 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $122.56, for a total value of $857,920.00. Following the completion of the sale, the chief financial officer owned 71,115 shares of the company’s stock, valued at $8,715,854.40. The trade was a 8.96% 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 236,499 shares of company stock worth $30,582,963. 13.45% of the stock is currently owned by corporate insiders.

Roku 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.