Engineers Gate Manager LP Sells 81,900 Shares of Roku, Inc. $ROKU

Engineers Gate Manager LP lowered its holdings in Roku, Inc. (NASDAQ:ROKU) by 78.5% during the second quarter, HoldingsChannel.com reports. The fund owned 22,466 shares of the company’s stock after selling 81,900 shares during the period. Engineers Gate Manager LP’s holdings in Roku were worth $3,103,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in ROKU. California State Teachers Retirement System grew its holdings in Roku by 13,741.7% during the second quarter. California State Teachers Retirement System now owns 20,912,738 shares of the company’s stock worth $2,888,886,000 after purchasing an additional 20,761,653 shares during the period. AQR Capital Management LLC raised its stake in Roku by 275.5% in the third quarter. AQR Capital Management LLC now owns 2,586,125 shares of the company’s stock valued at $258,897,000 after buying an additional 1,897,407 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in Roku by 229.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,038,347 shares of the company’s stock valued at $192,868,000 after buying an additional 1,419,772 shares during the period. Fred Alger Management LLC lifted its position in shares of Roku by 7,087.7% in the fourth quarter. Fred Alger Management LLC now owns 1,421,440 shares of the company’s stock valued at $154,212,000 after buying an additional 1,401,664 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Roku during the 4th quarter worth approximately $92,808,000. Institutional investors and hedge funds own 86.30% of the company’s stock.

Roku Stock Performance

Shares of NASDAQ ROKU opened at $154.93 on Monday. The stock has a market capitalization of $22.99 billion, a P/E ratio of 66.21 and a beta of 2.05. The stock’s fifty day moving average is $150.02 and its 200 day moving average is $127.28. Roku, Inc. has a 52 week low of $78.53 and a 52 week high of $159.89.

Roku (NASDAQ:ROKU) last announced its quarterly earnings data on Thursday, August 6th. The company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.47. Roku had a return on equity of 13.73% and a net margin of 6.82%.The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same period in the prior year, the company earned $0.07 EPS. Roku’s revenue for the quarter was up 21.9% on a year-over-year basis. Equities research analysts forecast that Roku, Inc. will post 2.85 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Dan Jedda sold 7,000 shares of Roku stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $157.11, for a total transaction of $1,099,770.00. Following the sale, the chief financial officer directly owned 65,963 shares in the company, valued at $10,363,446.93. This trade represents a 9.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mustafa Ozgen sold 3,410 shares of the business’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $155.64, for a total transaction of $530,732.40. Following the completion of the sale, the insider directly owned 25,569 shares in the company, valued at approximately $3,979,559.16. This represents a 11.77% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 105,285 shares of company stock worth $15,841,744 over the last quarter. 13.45% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ROKU has been the subject of a number of research analyst reports. Jefferies Financial Group cut shares of Roku from a “buy” rating to a “hold” rating and set a $160.00 price objective for the company. in a research report on Monday, June 15th. Needham & Company LLC reaffirmed a “buy” rating on shares of Roku in a report on Friday, August 7th. Citizens Jmp cut shares of Roku from a “market outperform” rating to a “hold” rating in a report on Tuesday, June 16th. UBS Group raised their price objective on shares of Roku from $126.00 to $172.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Finally, Susquehanna downgraded Roku from a “positive” rating to a “neutral” rating and set a $160.00 target price on the stock. in a research report on Tuesday, June 16th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and nineteen have issued a Hold rating to the company. According to data from MarketBeat.com, Roku presently has an average rating of “Hold” and a consensus target price of $156.17.

About Roku

Roku, Inc (NASDAQ: ROKU) operates a television streaming platform that connects consumers with digital entertainment. Its Roku operating system powers streaming players, Roku-branded televisions and smart-TV products made by licensing partners. The platform provides access to streaming services, live television, movies, music and other applications.

The company also operates The Roku Channel, its own ad-supported streaming service offering licensed and original content, including movies, television programs, live channels and premium subscription options.