Burney Co. Grows Position in Roku, Inc. $ROKU

Burney Co. increased its holdings in Roku, Inc. (NASDAQ:ROKU) by 96.2% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 48,061 shares of the company’s stock after buying an additional 23,567 shares during the quarter. Burney Co.’s holdings in Roku were worth $4,548,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of ROKU. AQR Capital Management LLC lifted its stake in Roku by 10.6% during the 4th quarter. AQR Capital Management LLC now owns 2,860,149 shares of the company’s stock valued at $310,298,000 after acquiring an additional 274,024 shares during the period. Geode Capital Management LLC raised its holdings in shares of Roku by 7.3% during the fourth quarter. Geode Capital Management LLC now owns 2,464,130 shares of the company’s stock valued at $267,389,000 after purchasing an additional 168,214 shares during the last quarter. Holocene Advisors LP lifted its position in Roku by 352.3% during the third quarter. Holocene Advisors LP now owns 1,650,448 shares of the company’s stock valued at $165,259,000 after purchasing an additional 1,285,585 shares during the period. Jacobs Levy Equity Management Inc. boosted its holdings in Roku by 0.8% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,509,686 shares of the company’s stock worth $163,786,000 after purchasing an additional 12,705 shares during the last quarter. Finally, Fred Alger Management LLC boosted its holdings in Roku by 7,087.7% in the fourth quarter. Fred Alger Management LLC now owns 1,421,440 shares of the company’s stock worth $154,212,000 after purchasing an additional 1,401,664 shares during the last quarter. Hedge funds and other institutional investors own 86.30% of the company’s stock.

Insider Transactions at Roku

In related news, Director Neil D. Hunt sold 2,000 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $140.65, for a total value of $281,300.00. Following the completion of the transaction, the director owned 9,629 shares of the company’s stock, valued at approximately $1,354,318.85. This trade represents a 17.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 Monday, June 15th. The stock was sold at an average price of $143.87, for a total value of $1,007,090.00. Following the sale, the chief financial officer directly owned 79,963 shares in the company, valued at $11,504,276.81. The trade was a 8.05% decrease in their ownership of the stock. 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 90 days, insiders sold 527,737 shares of company stock worth $63,176,511. 13.45% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

ROKU has been the subject of a number of research reports. Zacks Research lowered shares of Roku from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 14th. Guggenheim raised their price target on Roku from $140.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, June 9th. William Blair cut Roku from an “outperform” rating to a “market perform” rating in a research report on Monday, June 15th. Pivotal Research reissued a “buy” rating and issued a $160.00 target price (up from $140.00) on shares of Roku in a report on Friday, May 1st. Finally, Benchmark raised their target price on Roku from $130.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Eleven investment analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the stock. According to MarketBeat.com, Roku has an average rating of “Hold” and a consensus price target of $153.71.

Roku Stock Down 0.7%

NASDAQ:ROKU opened at $141.21 on Wednesday. The business’s 50-day simple moving average is $129.29 and its two-hundred day simple moving average is $110.78. The stock has a market cap of $20.82 billion, a PE ratio of 106.17 and a beta of 2.01. Roku, Inc. has a 52 week low of $78.53 and a 52 week high of $148.88.

Roku (NASDAQ:ROKU) last issued its quarterly earnings data 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. Roku had a return on equity of 7.64% and a net margin of 4.06%.The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same quarter last year, the business posted ($0.19) earnings per share. The business’s quarterly revenue was up 22.4% compared to the same quarter last year. Sell-side analysts anticipate that Roku, Inc. will post 2.41 earnings per share for the current fiscal year.

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.