GAMMA Investing LLC Raises Position in Roku, Inc. (NASDAQ:ROKU)

GAMMA Investing LLC grew its position in Roku, Inc. (NASDAQ:ROKU - Free Report) by 14,242.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 67,552 shares of the company's stock after acquiring an additional 67,081 shares during the quarter. GAMMA Investing LLC's holdings in Roku were worth $4,758,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of ROKU. Vision Financial Markets LLC acquired a new stake in Roku during the 4th quarter worth $30,000. Game Plan Financial Advisors LLC purchased a new stake in Roku during the 4th quarter valued at approximately $37,000. Harvest Fund Management Co. Ltd lifted its position in 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 acquiring an additional 491 shares during the period. Allianz SE purchased a new position in shares of Roku in the 4th quarter valued at approximately $39,000. Finally, Fourth Dimension Wealth LLC acquired a new position in shares of Roku in the fourth quarter valued at approximately $41,000. 86.30% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Anthony J. Wood sold 4,600 shares of the stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $75.00, for a total transaction of $345,000.00. Following the transaction, the chief executive officer now directly owns 6,243 shares in the company, valued at $468,225. This represents a 42.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mai Fyfield sold 914 shares of the stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $78.50, for a total transaction of $71,749.00. Following the transaction, the director now directly owns 4,374 shares in the company, valued at approximately $343,359. This represents a 17.28% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 64,737 shares of company stock valued at $4,987,114. Insiders own 13.98% of the company's stock.

Wall Street Analysts Forecast Growth

ROKU has been the subject of a number of analyst reports. Pivotal Research cut their price objective on shares of Roku from $125.00 to $100.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Piper Sandler initiated coverage on shares of Roku in a research report on Thursday, April 17th. They issued a "neutral" rating and a $65.00 price objective for the company. Needham & Company LLC reiterated a "buy" rating and set a $88.50 target price on shares of Roku in a research report on Monday, May 12th. Redburn Atlantic upgraded 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. Finally, Benchmark reiterated a "buy" rating and issued a $130.00 price objective on shares of Roku in a research report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $88.37.

Roku Trading Down 2.2%

Shares of Roku stock traded down $1.79 during mid-day trading on Thursday, hitting $78.69. 588,954 shares of the stock were exchanged, compared to its average volume of 3,827,033. The stock has a market capitalization of $11.48 billion, a price-to-earnings ratio of -88.42 and a beta of 2.09. Roku, Inc. has a twelve month low of $48.33 and a twelve month high of $104.96. The company has a 50-day simple moving average of $66.67 and a 200 day simple moving average of $74.67.

Roku (NASDAQ:ROKU - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.08. Roku had a negative return on equity of 5.34% and a negative net margin of 3.15%. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the previous year, the firm posted ($0.35) EPS. Roku's revenue was up 15.8% on a year-over-year basis. Equities research analysts forecast that Roku, Inc. will post -0.3 earnings per share for the current fiscal year.

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.