ABLE Financial Group LLC Invests $1.27 Million in Roku, Inc. (NASDAQ:ROKU)

ABLE Financial Group LLC purchased a new position in Roku, Inc. (NASDAQ:ROKU - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 18,051 shares of the company's stock, valued at approximately $1,272,000.

Several other hedge funds and other institutional investors have also bought and sold shares of ROKU. Jacobs Levy Equity Management Inc. grew its position in shares of 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 buying an additional 1,082,548 shares during the period. Geode Capital Management LLC boosted its stake in Roku by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 2,147,259 shares of the company's stock worth $159,353,000 after acquiring an additional 56,820 shares in the last quarter. Lecap Asset Management Ltd. acquired a new stake in Roku in the first quarter worth $511,000. Charles Schwab Investment Management Inc. grew its holdings in Roku by 3.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 990,867 shares of the company's stock worth $73,661,000 after purchasing an additional 34,898 shares during the period. Finally, Achmea Investment Management B.V. increased its stake 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 purchasing an additional 6,042 shares in the last quarter. Institutional investors and hedge funds own 86.30% of the company's stock.

Roku Stock Performance

NASDAQ ROKU traded down $1.69 on Tuesday, hitting $86.20. 3,484,624 shares of the stock traded hands, compared to its average volume of 3,859,258. The business's fifty day moving average is $72.66 and its two-hundred day moving average is $75.11. Roku, Inc. has a 12 month low of $48.33 and a 12 month high of $104.96. The firm has a market capitalization of $12.58 billion, a price-to-earnings ratio of -118.08 and a beta of 2.09.

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

Insider Buying and Selling at Roku

In other news, CAO Matthew C. Banks sold 629 shares of the firm's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $72.98, for a total value of $45,904.42. Following the completion of the transaction, the chief accounting officer directly owned 8,555 shares of the company's stock, valued at $624,343.90. This trade represents a 6.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $80.27, for a total value of $2,006,750.00. Following the sale, the chief executive officer directly owned 11,953 shares in the company, valued at $959,467.31. This trade represents a 67.65% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 64,020 shares of company stock worth $4,979,594. Company insiders own 13.98% of the company's stock.

Wall Street Analysts Forecast Growth

ROKU has been the subject of several research reports. Bank of America raised their target price on Roku from $85.00 to $100.00 and gave the company a "buy" rating in a research note on Tuesday, June 17th. FBN Securities assumed coverage on Roku in a research note on Friday, March 28th. They issued an "outperform" rating and a $93.00 price objective for the company. Wedbush restated an "outperform" rating and set a $100.00 price objective on shares of Roku in a report on Monday, June 16th. Rosenblatt Securities cut their target price on Roku from $100.00 to $75.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Finally, Moffett Nathanson upgraded shares of Roku from a "sell" rating to a "neutral" rating and set a $70.00 price target for the company in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $89.93.

Roku Profile

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.