Emerald Advisers LLC Purchases New Position in Roku, Inc. $ROKU

Emerald Advisers LLC acquired a new position in shares of Roku, Inc. (NASDAQ:ROKU) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 5,311 shares of the company’s stock, valued at approximately $467,000.

Several other hedge funds have also made changes to their positions in the company. Beaird Harris Wealth Management LLC purchased a new position in shares of Roku during the first quarter valued at $30,000. Banque Transatlantique SA bought a new position in Roku during the 1st quarter worth about $28,000. Golden State Wealth Management LLC grew its holdings in Roku by 125.4% during the 1st quarter. Golden State Wealth Management LLC now owns 444 shares of the company’s stock worth $31,000 after acquiring an additional 247 shares in the last quarter. JFS Wealth Advisors LLC increased its position in Roku by 327.1% during the 2nd quarter. JFS Wealth Advisors LLC now owns 457 shares of the company’s stock valued at $40,000 after purchasing an additional 350 shares during the period. Finally, Bogart Wealth LLC raised its holdings in shares of Roku by 234.1% in the 2nd quarter. Bogart Wealth LLC now owns 461 shares of the company’s stock valued at $41,000 after purchasing an additional 323 shares in the last quarter. 86.30% of the stock is currently owned by hedge funds and other institutional investors.

Roku Stock Performance

Shares of NASDAQ ROKU opened at $98.61 on Thursday. The company has a market cap of $14.53 billion, a PE ratio of -234.79, a P/E/G ratio of 11.67 and a beta of 2.13. The business has a 50-day simple moving average of $97.59 and a two-hundred day simple moving average of $84.88. Roku, Inc. has a fifty-two week low of $52.43 and a fifty-two week high of $107.25.

Roku (NASDAQ:ROKU) last posted its quarterly earnings data on Thursday, July 31st. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.23. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.07 billion. Roku had a negative net margin of 1.40% and a negative return on equity of 2.44%. The company’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.18) earnings per share. On average, sell-side analysts predict that Roku, Inc. will post -0.3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ROKU has been the subject of several research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Roku in a research report on Wednesday, October 8th. Bank of America boosted their price target on Roku from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, July 3rd. UBS Group upped their price objective on Roku from $72.00 to $95.00 and gave the stock a “neutral” rating in a research note on Friday, August 1st. Benchmark reiterated a “buy” rating on shares of Roku in a research note on Monday. Finally, Pivotal Research boosted their target price on shares of Roku from $100.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Roku has a consensus rating of “Moderate Buy” and an average target price of $103.35.

Insider Activity at Roku

In other news, CEO Anthony J. Wood sold 3,400 shares of the business’s stock in a transaction on Friday, October 24th. The shares were sold at an average price of $100.07, for a total transaction of $340,238.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Mustafa Ozgen sold 50,527 shares of the company’s stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $100.00, for a total value of $5,052,700.00. The SEC filing for this sale provides additional information. Insiders sold a total of 331,731 shares of company stock worth $32,980,794 in the last quarter. 13.98% of the stock is currently owned by company insiders.

Roku Company Profile

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.