Friedenthal Financial Purchases 10,416 Shares of Roku, Inc. $ROKU

Friedenthal Financial boosted its position in Roku, Inc. (NASDAQ:ROKU) by 15,317.6% during the 1st quarter, Holdings Channel reports. The fund owned 10,484 shares of the company’s stock after buying an additional 10,416 shares during the period. Friedenthal Financial’s holdings in Roku were worth $992,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in ROKU. Blue Trust Inc. increased its holdings in shares of Roku by 680.0% during the fourth quarter. Blue Trust Inc. now owns 234 shares of the company’s stock valued at $25,000 after acquiring an additional 204 shares in the last quarter. Aventura Private Wealth LLC bought a new position in shares of Roku in the 4th quarter worth $26,000. WPG Advisers LLC acquired a new stake in Roku in the 4th quarter valued at $31,000. Safe Harbor Fiduciary LLC acquired a new stake in Roku in the 4th quarter valued at $31,000. Finally, Osbon Capital Management LLC acquired a new stake in Roku in the 4th quarter valued at $45,000. Institutional investors and hedge funds own 86.30% of the company’s stock.

Key Roku News

Here are the key news stories impacting Roku this week:

• Positive Sentiment: Multiple reports suggested Fox could be buying Roku for about $22 billion, which sparked investor interest because a deal like that would imply a major premium and could make Roku a much bigger player in streaming. Fox is buying Roku for $22 billion – here’s what it means for your TV
• Positive Sentiment: Media consolidation commentary also highlighted Fox’s large investment in Roku, reinforcing the market’s view that Roku could be part of broader industry dealmaking. Media Consolidation in Its ‘Middle Innings’: Tom Ara
• Positive Sentiment: Jim Cramer’s discussion of Roku’s “big announcement” added to the attention around the stock, which can support momentum trading when sentiment is already strong. Jim Cramer Shares Thoughts On Roku’s (ROKU) Big Announcement
• Positive Sentiment: A Roku TV update reportedly brought a popular feature back to the home screen, a small but favorable product improvement that may help user engagement. A small Roku TV update brought a popular feature back to your home screen
• Neutral Sentiment: Zacks included Roku among broadcast and TV stocks to watch, noting the company benefits from higher content consumption and steady digital viewing, but also faces tough advertising competition. 4 Broadcast Radio & TV Stocks to Watch From a Challenging Industry
• Neutral Sentiment: Several articles focused on Roku alternatives, promotional pricing, and accessory deals, which are mostly consumer-interest pieces and unlikely to materially move the stock on their own. Want a Roku alternative? These are my 4 other favorite TV OS options, and I’ve tried them all
• Negative Sentiment: There were also reports that a recent YouTube TV update is causing unexpected problems and degraded performance on Roku devices, which could be a short-term headwind for user experience. It’s not just you: YouTube TV update reportedly degrades performance on Roku devices

Analysts Set New Price Targets

Several research firms have weighed in on ROKU. Fox Advisors set a $160.00 price objective on shares of Roku in a report on Tuesday, June 16th. Wells Fargo & Company lifted their price objective on shares of Roku from $137.00 to $167.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Seaport Research Partners set a $155.00 target price on shares of Roku in a research report on Tuesday, June 16th. Piper Sandler downgraded shares of Roku from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $148.00 to $160.00 in a research report on Tuesday, June 16th. Finally, Citigroup restated an “outperform” rating on shares of Roku in a report on Monday, June 15th. Eleven analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $153.71.

Insider Activity at Roku

In related news, CEO Anthony J. Wood sold 75,000 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $128.79, for a total transaction of $9,659,250.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mustafa Ozgen sold 10,194 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $144.00, for a total transaction of $1,467,936.00. Following the completion of the sale, the insider owned 19,185 shares of the company’s stock, valued at approximately $2,762,640. This trade represents a 34.70% decrease in their position. 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 713,194 shares of company stock valued at $81,763,589 over the last ninety days. Corporate insiders own 13.45% of the company’s stock.

Roku Trading Up 0.7%

NASDAQ ROKU opened at $135.95 on Thursday. The firm has a market capitalization of $20.04 billion, a P/E ratio of 102.22 and a beta of 2.06. The business has a fifty day simple moving average of $124.73 and a 200 day simple moving average of $108.67. Roku, Inc. has a 12 month low of $78.53 and a 12 month high of $148.88.

Roku (NASDAQ:ROKU) last issued its quarterly earnings data on Thursday, April 30th. The company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.23. The business had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Roku had a return on equity of 7.64% and a net margin of 4.06%.The business’s revenue was up 22.4% on a year-over-year basis. During the same period last year, the business earned ($0.19) EPS. As a group, sell-side analysts predict that Roku, Inc. will post 2.41 EPS for the current fiscal year.

About Roku

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.