Headlands Technologies LLC Buys New Shares in Roku, Inc. $ROKU

Headlands Technologies LLC bought a new position in shares of Roku, Inc. (NASDAQ:ROKU) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 53,299 shares of the company’s stock, valued at approximately $7,363,000. Roku comprises approximately 0.8% of Headlands Technologies LLC’s holdings, making the stock its 18th largest position.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jefferies Financial Group Inc. acquired a new position in Roku during the fourth quarter worth approximately $1,345,000. Moran Wealth Management LLC acquired a new stake in Roku during the 1st quarter valued at $2,990,000. Bank of New York Mellon Corp bought a new position in Roku during the second quarter worth $105,216,000. Contravisory Investment Management Inc. bought a new position in Roku during the second quarter worth $1,184,000. Finally, California Public Employees Retirement System increased its holdings in shares of Roku by 14.8% in the first quarter. California Public Employees Retirement System now owns 260,774 shares of the company’s stock valued at $24,674,000 after purchasing an additional 33,593 shares during the last quarter. 86.30% of the stock is owned by institutional investors.

Roku Price Performance

Shares of Roku stock opened at $157.68 on Monday. The firm has a market capitalization of $23.40 billion, a P/E ratio of 67.38 and a beta of 2.01. Roku, Inc. has a fifty-two week low of $78.53 and a fifty-two week high of $159.89. The company’s 50 day moving average price is $146.41 and its two-hundred day moving average price is $122.54.

Roku (NASDAQ:ROKU) last issued its earnings results on Wednesday, August 5th. The company reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.47. Roku had a return on equity of 13.73% and a net margin of 6.82%.The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter in the prior year, the firm earned $0.07 EPS. The business’s revenue for the quarter was up 21.9% compared to the same quarter last year. On average, analysts expect that Roku, Inc. will post 2.85 earnings per share for the current year.

Insider Buying and Selling

In other Roku news, insider Gilbert Fuchsberg sold 10,719 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $150.00, for a total transaction of $1,607,850.00. Following the sale, the insider directly owned 40,380 shares of the company’s stock, valued at $6,057,000. The trade was a 20.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Dan Jedda sold 7,000 shares of Roku stock in a transaction on Monday, June 15th. The stock was sold at an average price of $143.87, for a total transaction of $1,007,090.00. Following the transaction, the chief financial officer owned 79,963 shares in the company, valued at approximately $11,504,276.81. This trade represents a 8.05% 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 a total of 160,452 shares of company stock valued at $21,794,802 over the last three months. Insiders own 13.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. JPMorgan Chase & Co. started coverage on shares of Roku in a research note on Monday, August 24th. They issued a “neutral” rating and a $160.00 price target on the stock. Piper Sandler downgraded shares of Roku from an “overweight” rating to a “neutral” rating and raised their price objective for the stock from $148.00 to $160.00 in a research report on Tuesday, June 16th. Jefferies Financial Group cut Roku from a “buy” rating to a “hold” rating and set a $160.00 price objective for the company. in a report on Monday, June 15th. Guggenheim downgraded Roku from a “buy” rating to a “neutral” rating and upped their target price for the company from $145.00 to $160.00 in a research report on Friday, August 7th. Finally, Citizens Jmp lowered Roku from a “market outperform” rating to a “hold” rating in a research note on Tuesday, June 16th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and nineteen have issued a Hold rating to the company. Based on data from MarketBeat.com, Roku presently has a consensus rating of “Hold” and an average target price of $156.17.

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.