Bull Harbor Capital LLC Buys New Position in Roku, Inc. $ROKU

Bull Harbor Capital LLC bought a new stake in Roku, Inc. (NASDAQ:ROKU) during the first quarter, HoldingsChannel.com reports. The fund bought 3,640 shares of the company’s stock, valued at approximately $344,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Raleigh Capital Management Inc. boosted its stake in shares of Roku by 6.5% during the 1st quarter. Raleigh Capital Management Inc. now owns 1,522 shares of the company’s stock worth $144,000 after purchasing an additional 93 shares during the last quarter. Apollon Wealth Management LLC raised its position in shares of Roku by 1.5% in the fourth quarter. Apollon Wealth Management LLC now owns 6,450 shares of the company’s stock valued at $700,000 after buying an additional 96 shares during the last quarter. Quantum Portfolio Management LLC raised its position in shares of Roku by 2.6% in the first quarter. Quantum Portfolio Management LLC now owns 4,135 shares of the company’s stock valued at $391,000 after buying an additional 105 shares during the last quarter. HB Wealth Management LLC lifted its stake in shares of Roku by 3.7% during the first quarter. HB Wealth Management LLC now owns 3,447 shares of the company’s stock valued at $326,000 after buying an additional 122 shares during the period. Finally, Quarry LP lifted its stake in shares of Roku by 21.7% during the fourth quarter. Quarry LP now owns 689 shares of the company’s stock valued at $75,000 after buying an additional 123 shares during the period. 86.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ROKU. Piper Sandler lowered shares of Roku from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $148.00 to $160.00 in a research report on Tuesday, June 16th. Zacks Research lowered Roku from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 14th. KeyCorp lowered Roku from an “overweight” rating to a “sector weight” rating in a research note on Monday, June 15th. Fox Advisors set a $157.00 price objective on Roku in a report on Friday, July 17th. Finally, Needham & Company LLC lifted their price objective on Roku from $140.00 to $170.00 and gave the company a “buy” rating in a research report on Monday, June 15th. Ten equities research analysts have rated the stock with a Buy rating and seventeen have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $155.12.

Insider Activity at Roku

In other news, CFO Dan Jedda sold 7,000 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $122.56, for a total value of $857,920.00. Following the transaction, the chief financial officer directly owned 71,115 shares in the company, valued at $8,715,854.40. This trade represents a 8.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mustafa Ozgen sold 10,194 shares of Roku stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $144.00, for a total value of $1,467,936.00. Following the completion of the transaction, the insider directly owned 19,185 shares in the company, valued at $2,762,640. This represents a 34.70% 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. Insiders have sold 224,181 shares of company stock worth $29,043,628 in the last 90 days. Company insiders own 13.45% of the company’s stock.

Roku Stock Performance

ROKU opened at $145.01 on Friday. The company’s 50 day simple moving average is $136.45 and its 200 day simple moving average is $114.86. Roku, Inc. has a 1 year low of $78.53 and a 1 year high of $148.88. The stock has a market capitalization of $21.38 billion, a PE ratio of 109.03 and a beta of 2.01.

Roku (NASDAQ:ROKU) last issued its quarterly earnings results on Thursday, April 30th. The company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.34 by $0.23. Roku had a net margin of 4.06% and a return on equity of 7.64%. The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the prior year, the business posted ($0.19) earnings per share. Roku’s revenue for the quarter was up 22.4% compared to the same quarter last year. As a group, sell-side analysts expect 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.