GAMMA Investing LLC Has $4.76 Million Stock Position in Roku, Inc. (NASDAQ:ROKU)

GAMMA Investing LLC lifted its holdings in Roku, Inc. (NASDAQ:ROKU - Free Report) by 14,242.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 67,552 shares of the company's stock after purchasing an additional 67,081 shares during the period. GAMMA Investing LLC's holdings in Roku were worth $4,758,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Vision Financial Markets LLC bought a new position in shares of Roku in the fourth quarter valued at approximately $30,000. Game Plan Financial Advisors LLC acquired a new position in shares of Roku during the 4th quarter worth about $37,000. Harvest Fund Management Co. Ltd boosted its stake in shares of Roku by 4,091.7% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 503 shares of the company's stock worth $37,000 after buying an additional 491 shares during the last quarter. Allianz SE acquired a new position in shares of Roku during the 4th quarter worth about $39,000. Finally, Fourth Dimension Wealth LLC acquired a new position in shares of Roku during the 4th quarter worth about $41,000. 86.30% of the stock is currently owned by institutional investors.

Roku Price Performance

NASDAQ:ROKU traded down $2.34 on Friday, reaching $74.41. The stock had a trading volume of 3,217,346 shares, compared to its average volume of 3,826,440. The company has a market cap of $10.86 billion, a price-to-earnings ratio of -83.61 and a beta of 2.09. The firm's fifty day moving average is $67.45 and its two-hundred day moving average is $74.83. Roku, Inc. has a 12-month low of $48.33 and a 12-month high of $104.96.

Roku (NASDAQ:ROKU - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported ($0.19) EPS for the quarter, beating analysts' consensus estimates 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 net margin of 3.15% and a negative return on equity of 5.34%. The company's quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.35) EPS. As a group, research analysts forecast that Roku, Inc. will post -0.3 earnings per share for the current fiscal year.

Insider Buying and Selling at Roku

In related news, CEO Anthony J. Wood sold 25,000 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 11,953 shares in the company, valued at approximately $959,467.31. The trade was a 67.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Mai Fyfield sold 914 shares of the firm's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $78.50, for a total value of $71,749.00. Following the completion of the sale, the director now owns 4,374 shares of the company's stock, valued at approximately $343,359. This trade represents a 17.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 64,737 shares of company stock worth $4,987,114. 13.98% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have weighed in on ROKU shares. Benchmark reaffirmed a "buy" rating and set a $130.00 target price on shares of Roku in a research note on Friday, May 2nd. Redburn Atlantic upgraded shares of Roku from a "neutral" rating to a "buy" rating and set a $100.00 target price on the stock in a report on Monday, April 7th. Piper Sandler assumed coverage on shares of Roku in a report on Thursday, April 17th. They issued a "neutral" rating and a $65.00 target price on the stock. JPMorgan Chase & Co. increased their price objective on shares of Roku from $75.00 to $85.00 and gave the company an "overweight" rating in a research note on Tuesday, June 3rd. Finally, FBN Securities assumed coverage on shares of Roku in a research note on Friday, March 28th. They issued an "outperform" rating and a $93.00 price objective for the company. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $88.37.

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.