Headlands Technologies LLC Makes New $7.36 Million Investment in Roku, Inc. $ROKU

Headlands Technologies LLC acquired a new stake in Roku, Inc. (NASDAQ:ROKU) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 53,299 shares of the company’s stock, valued at approximately $7,363,000. Roku makes up 0.8% of Headlands Technologies LLC’s portfolio, making the stock its 18th biggest holding.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ROKU. Empowered Funds LLC raised its holdings in shares of Roku by 18.6% in 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 purchased a new position in Roku during the first quarter worth about $229,000. EverSource Wealth Advisors LLC grew its position in Roku by 145.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,394 shares of the company’s stock worth $123,000 after purchasing an additional 826 shares in the last quarter. First Trust Advisors LP grew its position in 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 purchasing an additional 49,399 shares in the last quarter. Finally, Brown Advisory Inc. purchased a new stake in Roku in the 2nd quarter valued at about $326,000. 86.30% of the stock is owned by institutional investors.

Roku Stock Performance

Shares of ROKU stock opened at $157.68 on Monday. The firm’s 50 day moving average is $146.41 and its 200 day moving average is $122.54. The stock has a market capitalization of $23.40 billion, a P/E ratio of 67.38 and a beta of 2.01. Roku, Inc. has a 12 month low of $78.53 and a 12 month high of $159.89.

Roku (NASDAQ:ROKU) last released its quarterly earnings data on Wednesday, August 5th. The company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.47. Roku had a net margin of 6.82% and a return on equity of 13.73%. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same period in the previous year, the business earned $0.07 EPS. Roku’s revenue was up 21.9% compared to the same quarter last year. On average, equities analysts predict that Roku, Inc. will post 2.85 EPS for the current year.

Insider Buying and Selling

In related news, insider Charles Collier sold 20,538 shares of the stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $142.51, for a total transaction of $2,926,870.38. Following the sale, the insider owned 15,200 shares of the company’s stock, valued at approximately $2,166,152. This represents a 57.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $130.00, for a total value of $3,250,000.00. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 160,452 shares of company stock valued at $21,794,802 in the last 90 days. Corporate insiders own 13.45% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on ROKU shares. Robert W. Baird reissued a “neutral” rating and issued a $160.00 price objective on shares of Roku in a research report on Monday, June 15th. Citigroup raised their target price on Roku from $120.00 to $157.00 and gave the company a “neutral” rating in a research report on Friday, July 17th. Weiss Ratings upgraded shares of Roku from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Jefferies Financial Group downgraded shares of Roku from a “buy” rating to a “hold” rating and set a $160.00 price objective for the company. in a report on Monday, June 15th. Finally, Evercore lowered shares of Roku from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nineteen have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $156.17.

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.