Burney Co. Makes New Investment in Roku, Inc. $ROKU

Key Points

• Burney Co. opened a new Q4 stake in Roku of 24,494 shares, valued at about $2.657 million, while institutional investors hold roughly 86.3% of the stock.
• Roku beat Q4 estimates with EPS of $0.53 (vs. $0.28 expected) and revenue of $1.39B (+16.1% YoY), and analysts carry a largely bullish view with a consensus "Moderate Buy" and a ~$127.58 price target.
• Insiders have been net sellers recently — CEO Anthony Wood sold 50,000 shares (~$4.98M) and insiders sold about 343,944 shares (~$34.8M) over the past three months, though insiders still own ~13.98% of shares.

Burney Co. purchased a new position in Roku, Inc. (NASDAQ:ROKU - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 24,494 shares of the company's stock, valued at approximately $2,657,000.

A number of other large investors have also added to or reduced their stakes in ROKU. Blue Trust Inc. grew its holdings in Roku by 680.0% in the 4th quarter. Blue Trust Inc. now owns 234 shares of the company's stock worth $25,000 after acquiring an additional 204 shares during the last quarter. Aventura Private Wealth LLC bought a new stake in Roku in the 4th quarter worth $26,000. Westfuller Advisors LLC bought a new stake in Roku in the 3rd quarter worth $30,000. Root Financial Partners LLC bought a new stake in Roku in the 3rd quarter worth $33,000. Finally, Rakuten Securities Inc. grew its holdings in Roku by 55.6% in the 2nd quarter. Rakuten Securities Inc. now owns 442 shares of the company's stock worth $39,000 after acquiring an additional 158 shares during the last quarter. Institutional investors own 86.30% of the company's stock.

Roku Price Performance

Shares of NASDAQ ROKU opened at $102.47 on Monday. Roku, Inc. has a 1 year low of $57.01 and a 1 year high of $116.66. The stock has a market cap of $15.11 billion, a P/E ratio of 179.78 and a beta of 2.00. The firm has a 50-day moving average of $93.77 and a 200 day moving average of $99.53.

Roku (NASDAQ:ROKU - Get Free Report) last issued its quarterly earnings results on Thursday, February 12th. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.28 by $0.25. Roku had a net margin of 1.87% and a return on equity of 3.40%. The company had revenue of $1.39 billion during the quarter, compared to analysts' expectations of $1.35 billion. During the same period last year, the company posted ($0.24) EPS. Roku's revenue was up 16.1% on a year-over-year basis. Research analysts expect that Roku, Inc. will post -0.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ROKU. Wells Fargo & Company raised their price target on shares of Roku from $116.00 to $137.00 and gave the stock an "overweight" rating in a report on Friday, February 13th. Morgan Stanley set a $135.00 price target on shares of Roku and gave the stock an "overweight" rating in a report on Tuesday, December 16th. Needham & Company LLC reissued a "buy" rating and issued a $110.00 price target on shares of Roku in a report on Friday, February 13th. Piper Sandler reissued an "overweight" rating and issued a $140.00 price target (up from $135.00) on shares of Roku in a report on Friday, February 13th. Finally, Rosenblatt Securities raised shares of Roku from a "neutral" rating to a "buy" rating and raised their price target for the stock from $106.00 to $118.00 in a report on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $127.58.

Insiders Place Their Bets

In other Roku news, CEO Anthony J. Wood sold 50,000 shares of Roku stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $99.68, for a total value of $4,984,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Christopher T. Handman sold 2,999 shares of Roku stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $95.57, for a total transaction of $286,614.43. Following the completion of the transaction, the senior vice president directly owned 2,999 shares of the company's stock, valued at $286,614.43. This trade represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 343,944 shares of company stock valued at $34,787,865. 13.98% of the stock is owned by company insiders.

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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