Roku, Inc. $ROKU Stake Boosted by Engineers Gate Manager LP

Engineers Gate Manager LP lifted its holdings in shares of Roku, Inc. (NASDAQ:ROKU) by 931.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 253,191 shares of the company’s stock after buying an additional 228,648 shares during the period. Engineers Gate Manager LP owned approximately 0.17% of Roku worth $27,469,000 at the end of the most recent reporting period.

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

Insider Transactions at Roku

In other Roku news, Director Mai Fyfield sold 832 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $119.64, for a total value of $99,540.48. Following the completion of the sale, the director directly owned 5,389 shares in the company, valued at $644,739.96. This represents a 13.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Mustafa Ozgen sold 10,194 shares of the stock in a transaction on 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 sale, the insider owned 19,185 shares of the company’s stock, valued at $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 sold a total of 713,194 shares of company stock valued at $81,763,589 over the last three months. 13.45% of the stock is owned by company insiders.

Roku News Roundup

Here are the key news stories impacting Roku this week:

• Positive Sentiment: Fox’s agreement to acquire Roku for about $22 billion has become the dominant catalyst, lifting Roku’s perceived strategic value and fueling takeover interest. Fox to buy Roku in $22 billion deal
• Positive Sentiment: Several Wall Street firms raised or reiterated bullish price targets on Roku (ROKU), including targets around $160, reinforcing optimism that the stock could hold up well around the deal valuation. Analyst updates on Roku
• Positive Sentiment: Roku’s Smartly partnership expands its connected-TV ad tools, potentially making the platform more attractive to advertisers and supporting long-term ad revenue growth. Roku partners with Smartly
• Neutral Sentiment: Law firms are investigating whether the Fox deal fairly values Roku shareholders, which adds uncertainty but does not alter the transaction yet. Fairness investigation into Roku sale
• Negative Sentiment: Roku CFO Dan Jedda sold 7,000 shares under a pre-arranged trading plan, which may modestly weigh on sentiment despite being routine insider activity. Roku insider sale
• Negative Sentiment: Evercore downgraded Roku (ROKU) from strong-buy to hold, suggesting some analysts see less upside after the takeover-driven rerating. Evercore downgrade

Analysts Set New Price Targets

ROKU has been the subject of several analyst reports. Guggenheim boosted their price objective on Roku from $140.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, June 9th. Wedbush downgraded Roku from an “outperform” rating to a “neutral” rating and set a $155.00 price objective for the company. in a research report on Tuesday. Oppenheimer downgraded Roku from an “outperform” rating to a “market perform” rating in a research report on Monday. Needham & Company LLC boosted their price objective on Roku from $140.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Rosenblatt Securities upped their target price on Roku from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Tuesday. Eleven analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $153.71.

Roku Price Performance

ROKU opened at $137.29 on Thursday. The company has a market capitalization of $20.24 billion, a price-to-earnings ratio of 103.23 and a beta of 2.06. Roku, Inc. has a 1-year low of $77.64 and a 1-year high of $148.88. The business has a 50 day moving average price of $121.19 and a two-hundred day moving average price of $107.24.

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

Roku Company 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.