Maverick Capital Ltd. Decreases Position in Roku, Inc. $ROKU

Maverick Capital Ltd. lowered its stake in Roku, Inc. (NASDAQ:ROKU) by 82.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,189 shares of the company’s stock after selling 37,382 shares during the quarter. Maverick Capital Ltd.’s holdings in Roku were worth $775,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Blue Trust Inc. boosted its holdings in Roku by 680.0% in the 4th quarter. Blue Trust Inc. now owns 234 shares of the company’s stock worth $25,000 after acquiring an additional 204 shares during the period. Bayban raised its stake in shares of Roku by 1,300.0% during the first quarter. Bayban now owns 280 shares of the company’s stock valued at $26,000 after purchasing an additional 260 shares during the period. WPG Advisers LLC acquired a new position in shares of Roku during the fourth quarter worth $31,000. Safe Harbor Fiduciary LLC acquired a new position in shares of Roku during the fourth quarter worth $31,000. Finally, Osbon Capital Management LLC acquired a new position in shares of Roku during the fourth quarter worth $45,000. 86.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Gilbert Fuchsberg sold 9,593 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $125.52, for a total value of $1,204,113.36. Following the completion of the sale, the insider directly owned 50,863 shares in the company, valued at approximately $6,384,323.76. The trade was a 15.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 firm’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $122.56, for a total value of $857,920.00. Following the transaction, the chief financial officer owned 71,115 shares in the company, valued at $8,715,854.40. This trade represents a 8.96% 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. In the last quarter, insiders have sold 236,499 shares of company stock worth $30,582,963. 13.45% of the stock is currently owned by insiders.

Roku Price Performance

NASDAQ ROKU opened at $143.91 on Wednesday. Roku, Inc. has a 12 month low of $78.53 and a 12 month high of $148.88. The company has a market capitalization of $21.22 billion, a price-to-earnings ratio of 108.20 and a beta of 2.01. The company’s fifty day moving average price is $135.24 and its two-hundred day moving average price is $114.15.

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Rosenblatt Securities raised their price target on shares of Roku from $150.00 to $160.00 and gave the company a “buy” rating in a report on Tuesday, June 16th. Evercore lowered shares of Roku from a “strong-buy” rating to a “hold” rating in a report on Monday, June 15th. Susquehanna cut shares of Roku from a “positive” rating to a “neutral” rating and set a $160.00 price objective for the company. in a research report on Tuesday, June 16th. Seaport Research Partners set a $155.00 target price on Roku in a research note on Tuesday, June 16th. Finally, Morgan Stanley lifted their target price on Roku from $150.00 to $170.00 and gave the stock an “overweight” rating in a research report on Thursday, June 4th. Ten equities research analysts have rated the stock with a Buy rating and seventeen have given a Hold rating to the company’s stock. According to MarketBeat.com, Roku presently has an average rating of “Hold” and a consensus price target of $155.12.

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.