25,973 Shares in Roku, Inc. (NASDAQ:ROKU) Acquired by Highland Capital Management LLC

Highland Capital Management LLC bought a new position in shares of Roku, Inc. (NASDAQ:ROKU - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 25,973 shares of the company's stock, valued at approximately $1,830,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Jacobs Levy Equity Management Inc. increased its position in Roku by 505.3% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,296,774 shares of the company's stock worth $96,402,000 after purchasing an additional 1,082,548 shares in the last quarter. Geode Capital Management LLC increased its position in Roku by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 2,147,259 shares of the company's stock worth $159,353,000 after purchasing an additional 56,820 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Roku by 3.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 990,867 shares of the company's stock valued at $73,661,000 after acquiring an additional 34,898 shares in the last quarter. Achmea Investment Management B.V. grew its position in Roku by 146.4% in the fourth quarter. Achmea Investment Management B.V. now owns 10,168 shares of the company's stock valued at $756,000 after acquiring an additional 6,042 shares in the last quarter. Finally, Lecap Asset Management Ltd. acquired a new stake in Roku in the first quarter valued at approximately $511,000. Institutional investors and hedge funds own 86.30% of the company's stock.

Analyst Ratings Changes

ROKU has been the subject of several recent research reports. Wells Fargo & Company lowered their price objective on shares of Roku from $129.00 to $93.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. Bank of America increased their price objective on shares of Roku from $85.00 to $100.00 and gave the company a "buy" rating in a research report on Tuesday, June 17th. Needham & Company LLC reaffirmed a "buy" rating and issued a $88.50 price objective on shares of Roku in a research report on Tuesday, June 17th. Evercore ISI lowered their price objective on shares of Roku from $105.00 to $80.00 and set an "in-line" rating for the company in a research report on Friday, May 2nd. Finally, Guggenheim reaffirmed a "buy" rating and issued a $100.00 price objective on shares of Roku in a research report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Roku presently has an average rating of "Moderate Buy" and a consensus price target of $89.93.

Insider Buying and Selling

In related news, CEO Anthony J. Wood sold 25,000 shares of the company's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $75.00, for a total value of $1,875,000.00. Following the completion of the sale, the chief executive officer now owns 6,243 shares of the company's stock, valued at $468,225. This represents a 80.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Matthew C. Banks sold 629 shares of the company's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $72.98, for a total transaction of $45,904.42. Following the completion of the sale, the chief accounting officer now directly owns 8,555 shares of the company's stock, valued at $624,343.90. The trade was a 6.85% decrease in their position. The disclosure for this sale can be found here. Insiders sold 64,227 shares of company stock valued at $4,994,244 over the last 90 days. 13.98% of the stock is currently owned by company insiders.

Roku Stock Performance

Shares of ROKU opened at $86.94 on Friday. Roku, Inc. has a 1 year low of $48.33 and a 1 year high of $104.96. The company has a market cap of $12.69 billion, a price-to-earnings ratio of -119.09 and a beta of 2.09. The firm has a fifty day moving average of $72.09 and a 200-day moving average of $75.12.

Roku (NASDAQ:ROKU - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.08. Roku had a negative net margin of 2.49% and a negative return on equity of 4.29%. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the previous year, the company posted ($0.35) earnings per share. The company's revenue for the quarter was up 15.8% compared to the same quarter last year. Analysts predict that Roku, Inc. will post -0.3 EPS for the current year.

About Roku

Roku, Inc, together with its subsidiaries, operates a TV streaming platform in the United states and internationally. The company operates in two segments, Platform and Devices. Its streaming platform allows users to find and access TV shows, movies, news, sports, and others. The Platform segment offers digital advertising, including direct and programmatic video advertising, media and entertainment promotional spending, and related services; and streaming services distribution, such as subscription and transaction revenue shares, and sale of premium subscriptions and branded app buttons on remote controls.

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