HBK Investments L P Takes Position in Roku, Inc. $ROKU

HBK Investments L P bought a new position in shares of Roku, Inc. (NASDAQ:ROKU) in the second quarter, according to the company in its most recent filing with the SEC. The fund bought 1,184,334 shares of the company’s stock, valued at approximately $163,604,000. Roku accounts for 1.6% of HBK Investments L P’s investment portfolio, making the stock its 15th biggest position. HBK Investments L P owned about 0.80% of Roku as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ROKU. Sequoia Financial Advisors LLC increased its position in shares of Roku by 22.4% in the second quarter. Sequoia Financial Advisors LLC now owns 6,018 shares of the company’s stock worth $831,000 after acquiring an additional 1,102 shares in the last quarter. Maven Securities LTD acquired a new position in shares of Roku during the 2nd quarter valued at $5,111,000. IFP Advisors Inc boosted its position in Roku by 12.5% during the 2nd quarter. IFP Advisors Inc now owns 1,965 shares of the company’s stock worth $271,000 after purchasing an additional 218 shares during the period. Governors Lane LP purchased a new stake in Roku during the 2nd quarter worth $5,622,000. Finally, Arizona State Retirement System increased its holdings in Roku by 0.4% in the 2nd quarter. Arizona State Retirement System now owns 36,069 shares of the company’s stock valued at $4,983,000 after purchasing an additional 142 shares in the last quarter. Institutional investors and hedge funds own 86.30% of the company’s stock.

Insiders Place Their Bets

In other news, insider Mustafa Ozgen sold 3,410 shares of the stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $155.64, for a total transaction of $530,732.40. Following the transaction, the insider owned 25,569 shares of the company’s stock, valued at approximately $3,979,559.16. This trade represents a 11.77% decrease in their ownership of the stock. 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Gilbert Fuchsberg sold 4,824 shares of Roku stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $155.64, for a total value of $750,807.36. Following the completion of the transaction, the insider owned 40,168 shares of the company’s stock, valued at $6,251,747.52. This trade represents a 10.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 112,285 shares of company stock worth $16,939,414. Company insiders own 13.45% of the company’s stock.

Roku Price Performance

Shares of NASDAQ:ROKU traded down $1.50 during midday trading on Wednesday, reaching $155.12. The company had a trading volume of 2,187,629 shares, compared to its average volume of 3,490,726. The stock’s fifty day moving average price is $150.64 and its 200-day moving average price is $128.22. The stock has a market capitalization of $23.02 billion, a P/E ratio of 66.29 and a beta of 2.05. Roku, Inc. has a one year low of $78.53 and a one year high of $159.89.

Roku (NASDAQ:ROKU) last posted its quarterly earnings data on Thursday, August 6th. The company reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.47. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.30 billion. Roku had a net margin of 6.82% and a return on equity of 13.73%. The firm’s revenue was up 21.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.07 EPS. As a group, sell-side analysts forecast that Roku, Inc. will post 2.85 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ROKU has been the topic of a number of recent research reports. William Blair cut Roku from an “outperform” rating to a “market perform” rating in a research note on Monday, June 15th. Susquehanna lowered Roku from a “positive” rating to a “neutral” rating and set a $160.00 target price for the company. in a research note on Tuesday, June 16th. KeyCorp downgraded Roku from an “overweight” rating to a “sector weight” rating in a report on Monday, June 15th. Citizens Jmp lowered Roku from a “market outperform” rating to a “hold” rating in a research report on Tuesday, June 16th. Finally, Oppenheimer cut Roku from an “outperform” rating to a “market perform” rating in a report on Monday, June 15th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nineteen have assigned a Hold rating to the company. According to data from MarketBeat.com, Roku presently has a consensus rating of “Hold” and a consensus price target of $156.17.

Roku Company Profile

Roku, Inc (NASDAQ: ROKU) operates a television streaming platform that connects consumers with digital entertainment. Its Roku operating system powers streaming players, Roku-branded televisions and smart-TV products made by licensing partners. The platform provides access to streaming services, live television, movies, music and other applications.

The company also operates The Roku Channel, its own ad-supported streaming service offering licensed and original content, including movies, television programs, live channels and premium subscription options.