5,655 Shares in Roku, Inc. (NASDAQ:ROKU) Acquired by Bayforest Capital Ltd

Key Points

• Bayforest Capital Ltd has acquired 5,655 shares of Roku, Inc., valued at approximately $398,000, marking the firm's new stake in the streaming company.
• Roku has received a mix of ratings from analysts, with price targets ranging from $75.00 to $110.00, and currently holds a consensus rating of "Moderate Buy".
• Insider trading activities include significant sales by CEO Anthony J. Wood and CFO Dan Jedda, with Wood selling 25,000 shares for over $2.24 million.

Bayforest Capital Ltd purchased a new stake in Roku, Inc. (NASDAQ:ROKU - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 5,655 shares of the company's stock, valued at approximately $398,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ROKU. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Roku during the first quarter worth $6,026,000. 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 valued at $96,402,000 after purchasing 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. bought a new position in shares of Roku in the 1st quarter worth $511,000. Finally, J. Goldman & Co LP lifted its stake in Roku by 973.1% during the 4th quarter. J. Goldman & Co LP now owns 354,326 shares of the company's stock valued at $26,341,000 after acquiring an additional 321,307 shares in the last quarter. 86.30% of the stock is currently owned by institutional investors and hedge funds.

Roku Stock Performance

NASDAQ ROKU traded down $14.18 on Friday, reaching $79.98. 15,358,882 shares of the stock traded hands, compared to its average volume of 2,951,984. The company has a market cap of $11.67 billion, a price-to-earnings ratio of -190.43 and a beta of 2.05. Roku, Inc. has a 12 month low of $48.33 and a 12 month high of $104.96. The company has a fifty day moving average price of $83.77 and a 200-day moving average price of $76.97.

Roku (NASDAQ:ROKU - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.23. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.07 billion. Roku had a negative return on equity of 2.47% and a negative net margin of 1.40%. The firm's revenue for the quarter was up 14.7% on a year-over-year basis. During the same period in the previous year, the business earned ($0.18) EPS. As a group, research analysts anticipate that Roku, Inc. will post -0.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on ROKU. JMP Securities lifted their target price on Roku from $95.00 to $110.00 and gave the company a "market outperform" rating in a report on Monday, July 21st. Redburn Atlantic raised Roku from a "neutral" rating to a "buy" rating and set a $100.00 price target on the stock in a research note on Monday, April 7th. Rosenblatt Securities upped their price target on Roku from $75.00 to $101.00 and gave the company a "neutral" rating in a report on Friday. Pivotal Research upped their price target on Roku from $100.00 to $120.00 and gave the stock a "buy" rating in a research report on Friday. Finally, Benchmark restated a "buy" rating and set a $130.00 price target on shares of Roku in a report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Roku has a consensus rating of "Moderate Buy" and a consensus price target of $99.36.

Insider Buying and Selling

In related news, insider Charles Collier sold 212,559 shares of the company's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $95.00, for a total value of $20,193,105.00. Following the completion of the transaction, the insider owned 200 shares of the company's stock, valued at approximately $19,000. This represents a 99.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Dan Jedda sold 3,000 shares of the stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $90.20, for a total value of $270,600.00. Following the transaction, the chief financial officer directly owned 76,132 shares of the company's stock, valued at $6,867,106.40. The trade was a 3.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 308,873 shares of company stock worth $28,076,913 over the last ninety days. 13.98% of the stock is owned by corporate insiders.

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.