15,000 Shares in Roku, Inc. $ROKU Purchased by Monetta Financial Services Inc.

Key Points

• Monetta Financial Services purchased 15,000 Roku shares worth approximately $2.07 million, making Roku 1.4% of its portfolio. Institutional investors and hedge funds collectively own 86.3% of the company.
• Analyst sentiment remains cautious: Roku has a consensus “Hold” rating from MarketBeat, with an average price target of $156.17, despite UBS raising its target to $172.
• Roku reported quarterly earnings of $1.08 per share, beating estimates of $0.61, while revenue rose 21.9% year over year to $1.35 billion. The stock opened at $156.80, near its 52-week high of $159.69, as insiders sold $22.1 million of shares over the past 90 days.

Monetta Financial Services Inc. purchased a new stake in Roku, Inc. (NASDAQ:ROKU - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,000 shares of the company's stock, valued at approximately $2,072,000. Roku comprises 1.4% of Monetta Financial Services Inc.'s investment portfolio, making the stock its 19th largest position.

A number of other hedge funds have also recently bought and sold shares of ROKU. AQR Capital Management LLC raised its position in shares of Roku by 275.5% in the 3rd quarter. AQR Capital Management LLC now owns 2,586,125 shares of the company's stock valued at $258,897,000 after purchasing an additional 1,897,407 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Roku by 229.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,038,347 shares of the company's stock worth $192,868,000 after buying an additional 1,419,772 shares in the last quarter. Fred Alger Management LLC increased its stake in shares of Roku by 7,087.7% in the fourth quarter. Fred Alger Management LLC now owns 1,421,440 shares of the company's stock worth $154,212,000 after buying an additional 1,401,664 shares during the last quarter. Norges Bank bought a new stake in shares of Roku in the fourth quarter worth $92,808,000. Finally, Janus Henderson Group PLC raised its holdings in Roku by 1,320.4% in the first quarter. Janus Henderson Group PLC now owns 834,619 shares of the company's stock valued at $78,967,000 after acquiring an additional 775,861 shares in the last quarter. Institutional investors and hedge funds own 86.30% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on ROKU shares. UBS Group raised their price objective on shares of Roku from $126.00 to $172.00 and gave the stock a "neutral" rating in a report on Friday, August 7th. William Blair cut shares of Roku from an "outperform" rating to a "market perform" rating in a research report on Monday, June 15th. Wolfe Research cut Roku from an "outperform" rating to a "peer perform" rating in a research note on Tuesday, June 16th. Weiss Ratings raised Roku from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, August 11th. Finally, Citizens Jmp lowered Roku from a "market outperform" rating to a "hold" rating in a research report on Tuesday, June 16th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and nineteen have assigned a Hold rating to the company. According to MarketBeat.com, Roku currently has a consensus rating of "Hold" and an average target price of $156.17.

Roku Stock Down 0.6%

ROKU opened at $156.80 on Thursday. The firm has a market cap of $23.27 billion, a price-to-earnings ratio of 67.01 and a beta of 2.01. Roku, Inc. has a fifty-two week low of $78.53 and a fifty-two week high of $159.69. The company's 50-day moving average price is $143.42 and its 200 day moving average price is $119.24.

Roku (NASDAQ:ROKU - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $1.08 EPS for the quarter, beating analysts' consensus estimates of $0.61 by $0.47. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.30 billion. Roku had a return on equity of 13.73% and a net margin of 6.82%.Roku's quarterly revenue was up 21.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.07 earnings per share. Research analysts anticipate that Roku, Inc. will post 2.82 earnings per share for the current year.

Insider Activity

In other Roku news, insider Gilbert Fuchsberg sold 10,719 shares of the stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $150.00, for a total value 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. This trade represents a 20.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Dan Jedda sold 7,000 shares of the firm's stock in a transaction on Monday, June 15th. The shares were sold at an average price of $143.87, for a total value of $1,007,090.00. Following the completion of the sale, the chief financial officer owned 79,963 shares in the company, valued at $11,504,276.81. The trade was a 8.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 162,452 shares of company stock worth $22,052,982 over the last 90 days. Insiders own 13.45% of the company's stock.

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.

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