Mach 1 Financial Group LLC Invests $474,000 in Roku, Inc. (NASDAQ:ROKU)

Mach 1 Financial Group LLC purchased a new position in Roku, Inc. (NASDAQ:ROKU) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 5,171 shares of the company’s stock, valued at approximately $474,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Roku by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 11,473,538 shares of the company’s stock valued at $809,917,000 after buying an additional 78,185 shares during the last quarter. FMR LLC raised its stake in Roku by 85.9% during the 3rd quarter. FMR LLC now owns 9,441,349 shares of the company’s stock valued at $666,465,000 after buying an additional 4,363,754 shares during the last quarter. Wellington Management Group LLP raised its stake in Roku by 34.6% during the 3rd quarter. Wellington Management Group LLP now owns 2,543,081 shares of the company’s stock valued at $179,516,000 after buying an additional 653,940 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Roku by 2.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 836,199 shares of the company’s stock valued at $59,027,000 after buying an additional 22,052 shares during the last quarter. Finally, Lord Abbett & CO. LLC purchased a new stake in Roku during the 3rd quarter valued at $55,182,000. 86.30% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on ROKU shares. Oppenheimer lowered Roku from an “outperform” rating to a “market perform” rating in a research note on Friday, February 16th. Morgan Stanley dropped their price objective on shares of Roku from $65.00 to $60.00 and set an “underweight” rating for the company in a report on Friday, April 5th. Needham & Company LLC reissued a “buy” rating and set a $100.00 price objective on shares of Roku in a report on Friday, April 26th. Susquehanna dropped their price objective on shares of Roku from $110.00 to $80.00 and set a “positive” rating for the company in a report on Monday. Finally, Citigroup lowered their price target on shares of Roku from $75.00 to $70.00 and set a “neutral” rating for the company in a report on Tuesday. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $84.21.

Insider Transactions at Roku

In other Roku news, Director Jeffrey M. Blackburn acquired 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was bought at an average price of $63.96 per share, with a total value of $511,680.00. Following the purchase, the director now owns 8,000 shares in the company, valued at $511,680. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Jeffrey M. Blackburn purchased 8,000 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was acquired at an average price of $63.96 per share, with a total value of $511,680.00. Following the purchase, the director now directly owns 8,000 shares in the company, valued at approximately $511,680. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, insider Charles Collier sold 4,182 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $65.00, for a total transaction of $271,830.00. Following the transaction, the insider now directly owns 8,474 shares of the company’s stock, valued at approximately $550,810. The disclosure for this sale can be found here. Insiders sold 54,545 shares of company stock valued at $4,364,035 over the last 90 days. Corporate insiders own 13.63% of the company’s stock.

Roku Trading Up 0.6 %

ROKU traded up $0.34 on Wednesday, reaching $58.00. The stock had a trading volume of 914,820 shares, compared to its average volume of 5,800,435. Roku, Inc. has a 12-month low of $51.62 and a 12-month high of $108.84. The business’s 50-day moving average price is $62.34 and its two-hundred day moving average price is $78.45. The company has a market cap of $8.32 billion, a P/E ratio of -14.45 and a beta of 1.66.

Roku (NASDAQ:ROKU) last released its quarterly earnings data on Thursday, April 25th. The company reported ($0.35) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.64) by $0.29. The company had revenue of $881.50 million during the quarter, compared to analysts’ expectations of $843.54 million. Roku had a negative net margin of 15.64% and a negative return on equity of 23.81%. The firm’s revenue for the quarter was up 19.0% on a year-over-year basis. During the same quarter in the previous year, the company earned ($1.38) earnings per share. As a group, analysts predict that Roku, Inc. will post -1.98 earnings per share for the current year.

About Roku

Roku, Inc, together with its subsidiaries, operates a TV streaming platform in the United states and internationally. The company operates in two segments, Platform and Devices. Its streaming platform allows users to find and access TV shows, movies, news, sports, and others. The Platform segment offers digital advertising, including direct and programmatic video advertising, media and entertainment promotional spending, and related services; and streaming services distribution, such as subscription and transaction revenue shares, and sale of premium subscriptions and branded app buttons on remote controls.