Fox Run Management L.L.C. Acquires 7,251 Shares of Roku, Inc. (NASDAQ:ROKU)

Key Points

• Fox Run Management L.L.C. increased its stake in Roku, Inc. by 40.3% during the first quarter, acquiring an additional 7,251 shares for a total of 25,261 shares valued at approximately $1.78 million.
• Insider trading revealed significant activity, with insider Charles Collier selling 212,559 shares worth over $20 million, reflecting a 99.91% decrease in his holdings.
• Roku reported $1.11 billion in quarterly revenue, exceeding analyst estimates and showing a 14.7% increase compared to the same quarter last year.

Fox Run Management L.L.C. boosted its holdings in shares of Roku, Inc. (NASDAQ:ROKU - Free Report) by 40.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 25,261 shares of the company's stock after buying an additional 7,251 shares during the quarter. Fox Run Management L.L.C.'s holdings in Roku were worth $1,779,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in ROKU. Cerity Partners LLC grew its position in Roku by 0.5% during the fourth quarter. Cerity Partners LLC now owns 26,679 shares of the company's stock valued at $1,984,000 after buying an additional 145 shares during the period. Raymond James Financial Inc. bought a new stake in Roku during the fourth quarter valued at approximately $2,950,000. Treasurer of the State of North Carolina grew its position in Roku by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 55,563 shares of the company's stock valued at $4,131,000 after buying an additional 350 shares during the period. Sterling Capital Management LLC grew its position in Roku by 50.3% during the fourth quarter. Sterling Capital Management LLC now owns 6,672 shares of the company's stock valued at $496,000 after buying an additional 2,232 shares during the period. Finally, Guggenheim Capital LLC grew its position in Roku by 108.1% during the fourth quarter. Guggenheim Capital LLC now owns 14,475 shares of the company's stock valued at $1,076,000 after buying an additional 7,518 shares during the period. 86.30% of the stock is currently owned by institutional investors.

Insider Activity at Roku

In related news, insider Charles Collier sold 212,559 shares of Roku stock in a transaction on Monday, July 21st. The shares were sold at an average price of $95.00, for a total value of $20,193,105.00. Following the sale, the insider owned 200 shares of the company's stock, valued at approximately $19,000. This trade represents a 99.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Dan Jedda sold 3,000 shares of Roku stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $90.20, for a total transaction of $270,600.00. Following the completion of the sale, the chief financial officer directly owned 76,132 shares in the company, valued at $6,867,106.40. This represents a 3.79% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 337,233 shares of company stock worth $30,423,181 over the last 90 days. 13.98% of the stock is owned by insiders.

Roku Trading Up 4.5%

ROKU opened at $88.09 on Thursday. Roku, Inc. has a 12-month low of $52.43 and a 12-month high of $104.96. The firm has a market capitalization of $12.98 billion, a PE ratio of -209.74, a P/E/G ratio of 11.80 and a beta of 2.05. The firm has a 50 day moving average of $85.69 and a two-hundred day moving average of $77.29.

Roku (NASDAQ:ROKU - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.16) by $0.23. The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.07 billion. Roku had a negative net margin of 1.40% and a negative return on equity of 2.44%. Roku's revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period last year, the firm posted ($0.18) EPS. As a group, analysts predict that Roku, Inc. will post -0.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ROKU has been the subject of a number of recent analyst reports. Rosenblatt Securities upped their price target on shares of Roku from $75.00 to $101.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. Needham & Company LLC upped their price target on shares of Roku from $100.00 to $110.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. UBS Group upped their price target on shares of Roku from $72.00 to $95.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. Benchmark reissued a "buy" rating and issued a $130.00 target price on shares of Roku in a report on Friday, May 2nd. Finally, Susquehanna boosted their target price on shares of Roku from $85.00 to $110.00 and gave the stock a "positive" rating in a report on Friday, August 1st. One analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Roku has a consensus rating of "Moderate Buy" and a consensus target price of $98.96.

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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