Tremblant Capital Group Has $38.29 Million Stock Holdings in Roku, Inc. $ROKU

Tremblant Capital Group lowered its holdings in shares of Roku, Inc. (NASDAQ:ROKU) by 29.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 382,391 shares of the company’s stock after selling 162,657 shares during the period. Roku comprises 4.0% of Tremblant Capital Group’s portfolio, making the stock its 8th largest holding. Tremblant Capital Group owned approximately 0.26% of Roku worth $38,289,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in ROKU. Westfuller Advisors LLC acquired a new stake in shares of Roku during the 3rd quarter valued at about $30,000. Root Financial Partners LLC acquired a new position in Roku in the third quarter worth about $33,000. Rakuten Securities Inc. raised its position in Roku by 55.6% in the second quarter. Rakuten Securities Inc. now owns 442 shares of the company’s stock worth $39,000 after purchasing an additional 158 shares in the last quarter. Cornerstone Planning Group LLC lifted its stake in Roku by 20,450.0% during the third quarter. Cornerstone Planning Group LLC now owns 411 shares of the company’s stock worth $41,000 after purchasing an additional 409 shares during the period. Finally, Lion Street Advisors LLC bought a new position in Roku during the third quarter worth about $70,000. Institutional investors and hedge funds own 86.30% of the company’s stock.

Insider Buying and Selling

In related news, Director Neil D. Hunt sold 2,000 shares of Roku stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $97.70, for a total value of $195,400.00. Following the completion of the transaction, the director directly owned 7,782 shares of the company’s stock, valued at $760,301.40. The trade was a 20.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Gilbert Fuchsberg sold 3,250 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $95.57, for a total transaction of $310,602.50. Following the transaction, the insider owned 60,456 shares in the company, valued at approximately $5,777,779.92. This trade represents a 5.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 201,124 shares of company stock valued at $20,342,748. Insiders own 13.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Jefferies Financial Group upgraded Roku from a “hold” rating to a “buy” rating and upped their price objective for the company from $100.00 to $135.00 in a research note on Thursday, December 11th. Stifel Nicolaus set a $160.00 price target on Roku in a research note on Monday, March 2nd. Moffett Nathanson reiterated a “neutral” rating and issued a $100.00 price target on shares of Roku in a research report on Friday, February 13th. Needham & Company LLC reiterated a “buy” rating and set a $110.00 price objective on shares of Roku in a research note on Friday, February 13th. Finally, Pivotal Research lifted their price objective on Roku from $135.00 to $140.00 and gave the company a “buy” rating in a report on Monday, February 16th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Roku has an average rating of “Moderate Buy” and a consensus price target of $125.40.

Roku Trading Down 3.3%

NASDAQ ROKU opened at $91.65 on Friday. Roku, Inc. has a 1-year low of $52.43 and a 1-year high of $116.66. The company has a 50 day moving average of $98.04 and a 200-day moving average of $99.71. The firm has a market cap of $13.51 billion, a price-to-earnings ratio of 160.79 and a beta of 1.98.

Roku (NASDAQ:ROKU) last announced its earnings results on Thursday, February 12th. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.28 by $0.25. Roku had a return on equity of 3.40% and a net margin of 1.87%.The business had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same period in the previous year, the business earned ($0.24) EPS. Roku’s revenue was up 16.1% compared to the same quarter last year. On average, analysts forecast that Roku, Inc. will post -0.3 earnings per share for the current year.

Roku News Summary

Here are the key news stories impacting Roku this week:

• Positive Sentiment: Roku’s recent operational wins and bullish analyst notes helped drive a run-up into March — analysts have raised targets and coverage remains largely positive, supporting longer?term growth expectations. Read More.
• Positive Sentiment: Product and engagement initiatives (new on?platform game “Roklue” and improved Live TV search) aim to boost time?spent and ad monetization, which can support platform revenue growth. Read More.
• Positive Sentiment: Content deals: Roku secured exclusive streaming rights to a new X Games League, which can help drive unique live content and viewer engagement on the platform. Read More.
• Positive Sentiment: Retail promotions and steep discounts on Roku TVs and projectors are widespread this month — such device promotions can expand the user base and ad reach if they translate into active accounts. Read More.
• Neutral Sentiment: Ad/measurement ecosystem update: Pixalate released DEFASED pre?bid CTV blocklists (daily lists of apps delisted from app stores). This is an industry tool for buyers/sellers and could change ad targeting or inventory mix, but its direct impact on Roku revenue is unclear today. Read More.
• Negative Sentiment: Insider sale headline: CEO Anthony Wood’s trust sold 50,000 shares (filed as a March 10 transaction, average ~$99.68). Even if pre?planned under a 10b5?1, the disclosure can prompt near?term selling pressure and headline-driven volatility. Read More.
• Negative Sentiment: Heavy historical insider selling: multiple senior insiders have only sold (no purchases) over recent months, a datapoint investors often view as a negative signal for near?term sentiment. Read More.

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.