Fieldview Capital Management LLC Makes New $1.87 Million Investment in Roku, Inc. $ROKU

Fieldview Capital Management LLC purchased a new position in Roku, Inc. (NASDAQ:ROKU) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 17,246 shares of the company’s stock, valued at approximately $1,871,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Apollon Wealth Management LLC boosted its stake in Roku by 1.5% in the 4th quarter. Apollon Wealth Management LLC now owns 6,450 shares of the company’s stock worth $700,000 after purchasing an additional 96 shares during the period. Thoroughbred Financial Services LLC boosted its stake in Roku by 1.0% in the 3rd quarter. Thoroughbred Financial Services LLC now owns 9,945 shares of the company’s stock worth $995,000 after purchasing an additional 100 shares during the period. Quarry LP boosted its stake in Roku by 21.7% in the 4th quarter. Quarry LP now owns 689 shares of the company’s stock worth $75,000 after purchasing an additional 123 shares during the period. Swiss Life Asset Management Ltd boosted its stake in Roku by 2.2% in the 4th quarter. Swiss Life Asset Management Ltd now owns 5,969 shares of the company’s stock worth $648,000 after purchasing an additional 127 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in Roku by 3.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 3,664 shares of the company’s stock worth $398,000 after purchasing an additional 135 shares during the period. 86.30% of the stock is currently owned by institutional investors.

Key Headlines Impacting Roku

Here are the key news stories impacting Roku this week:

• Positive Sentiment: Roku is reportedly in sale talks, including a possible media tie-up, which could signal a strategic transaction or premium valuation if a deal materializes. Roku said to be in sale talks, including likely media tie-up, Bloomberg News reports
• Positive Sentiment: Evercore ISI raised its price target to $185 from $160 and kept a bullish rating, reinforcing optimism around Roku’s monetization efforts in its home screen and advertising-tech initiatives. Roku shares jump as fresh bullish analyst notes extend recent price-target hikes
• Positive Sentiment: Additional recent price-target hikes from firms like Morgan Stanley have added to the bullish analyst narrative, suggesting Wall Street sees more upside in Roku’s ad and platform strategy. Roku shares jump as fresh bullish analyst notes extend recent price-target hikes
• Neutral Sentiment: Several media stories highlighted Roku’s expanding free channels and consumer product discounts, but these appear more promotional than material fundamental catalysts. Roku Quietly Added Four New Free Channels For The Month Of June
• Negative Sentiment: CEO Anthony Wood sold 18,000 shares in a pre-arranged trading plan, which may add some caution, although the sale was not necessarily a bearish signal. Roku (NASDAQ:ROKU) CEO Anthony Wood Sells 18,000 Shares

Insider Activity at Roku

In related news, insider Gilbert Fuchsberg sold 4,376 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $127.26, for a total transaction of $556,889.76. Following the sale, the insider owned 51,099 shares in the company, valued at approximately $6,502,858.74. This represents a 7.89% decrease in their position. The transaction was disclosed in a filing 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, Director Mai Fyfield sold 832 shares of the stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $119.64, for a total value of $99,540.48. Following the sale, the director owned 5,389 shares in the company, valued at $644,739.96. The trade was a 13.37% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 721,194 shares of company stock worth $82,169,949 in the last ninety days. Corporate insiders own 13.45% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Wells Fargo & Company increased their target price on Roku from $137.00 to $167.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Robert W. Baird increased their target price on Roku from $130.00 to $160.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Jefferies Financial Group increased their target price on Roku from $135.00 to $140.00 and gave the company a “buy” rating in a research report on Monday, April 13th. Citigroup reiterated a “market outperform” rating on shares of Roku in a research report on Thursday, May 28th. Finally, Needham & Company LLC increased their target price on Roku from $110.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Twenty-two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $146.96.

Roku Stock Performance

NASDAQ ROKU opened at $143.66 on Friday. The company has a market capitalization of $21.18 billion, a P/E ratio of 108.02 and a beta of 2.06. Roku, Inc. has a one year low of $73.91 and a one year high of $148.88. The stock has a 50 day moving average price of $118.73 and a 200-day moving average price of $106.23.

Roku (NASDAQ:ROKU) last posted its earnings results on Thursday, April 30th. The company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.23. Roku had a return on equity of 7.64% and a net margin of 4.06%.The firm had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the prior year, the company earned ($0.19) EPS. The company’s quarterly revenue was up 22.4% compared to the same quarter last year. As a group, equities analysts predict that Roku, Inc. will post 2.41 EPS 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.