Royal Fund Management LLC Purchases Shares of 3,860 Roku, Inc. $ROKU

Royal Fund Management LLC bought a new position in Roku, Inc. (NASDAQ:ROKU) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,860 shares of the company’s stock, valued at approximately $365,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ROKU. Empowered Funds LLC boosted its position in 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 purchasing an additional 515 shares in the last quarter. Focus Partners Wealth acquired a new stake in shares of Roku during the 1st quarter worth approximately $229,000. EverSource Wealth Advisors LLC increased its holdings in shares of Roku by 145.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,394 shares of the company’s stock valued at $123,000 after purchasing an additional 826 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of Roku by 231.0% during the 2nd quarter. First Trust Advisors LP now owns 70,786 shares of the company’s stock valued at $6,221,000 after purchasing an additional 49,399 shares in the last quarter. Finally, Brown Advisory Inc. acquired a new position in shares of Roku in the 2nd quarter valued at $326,000. 86.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ROKU has been the topic of a number of recent analyst reports. Wolfe Research downgraded shares of Roku from an “outperform” rating to a “peer perform” rating in a report on Tuesday, June 16th. Seaport Research Partners set a $155.00 price objective on shares of Roku in a report on Tuesday, June 16th. Citigroup upped their price objective on shares of Roku from $120.00 to $157.00 and gave the stock a “neutral” rating in a research report on Friday, July 17th. Oppenheimer lowered shares of Roku from an “outperform” rating to a “market perform” rating in a research note on Monday, June 15th. Finally, William Blair lowered shares of Roku from an “outperform” rating to a “market perform” rating in a research note on Monday, June 15th. Ten investment analysts have rated the stock with a Buy rating and seventeen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $155.12.

Insider Activity at Roku

In other news, insider Charles Collier sold 20,538 shares of Roku stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $124.23, for a total value of $2,551,435.74. Following the sale, the insider owned 7,700 shares in the company, valued at $956,571. This trade represents a 72.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Dan Jedda sold 7,000 shares of Roku stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $122.56, for a total transaction of $857,920.00. Following the completion of the sale, the chief financial officer owned 71,115 shares in the company, valued at approximately $8,715,854.40. This trade represents a 8.96% decrease in their position. 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. Over the last ninety days, insiders have sold 224,181 shares of company stock valued at $29,043,628. Insiders own 13.45% of the company’s stock.

Roku Price Performance

Shares of ROKU stock opened at $145.09 on Friday. Roku, Inc. has a 1-year low of $78.53 and a 1-year high of $148.88. The company has a market cap of $21.39 billion, a price-to-earnings ratio of 109.09 and a beta of 2.01. The stock has a 50 day simple moving average of $136.06 and a 200-day simple moving average of $114.64.

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

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.