Governors Lane LP Takes Position in Roku, Inc. $ROKU

Governors Lane LP bought a new position in shares of Roku, Inc. (NASDAQ:ROKU - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 40,700 shares of the company's stock, valued at approximately $5,622,000.

Other hedge funds also recently modified their holdings of the company. Empowered Funds LLC grew its stake in Roku by 18.6% during the first quarter. Empowered Funds LLC now owns 3,291 shares of the company's stock worth $232,000 after buying an additional 515 shares in the last quarter. Focus Partners Wealth acquired a new position in shares of Roku in the 1st quarter valued at approximately $229,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Roku by 145.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,394 shares of the company's stock worth $123,000 after acquiring an additional 826 shares during the period. First Trust Advisors LP lifted its holdings in shares of Roku by 231.0% during the 2nd quarter. First Trust Advisors LP now owns 70,786 shares of the company's stock worth $6,221,000 after acquiring an additional 49,399 shares during the period. Finally, Brown Advisory Inc. acquired a new stake in shares of Roku during the 2nd quarter worth approximately $326,000. Institutional investors own 86.30% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on ROKU shares. Wolfe Research cut shares of Roku from an "outperform" rating to a "peer perform" rating in a research note on Tuesday, June 16th. Needham & Company LLC reaffirmed a "buy" rating on shares of Roku in a report on Friday, August 7th. Citigroup raised their target price on Roku from $120.00 to $157.00 and gave the company a "neutral" rating in a report on Friday, July 17th. JPMorgan Chase & Co. started coverage on Roku in a research note on Monday, August 24th. They issued a "neutral" rating and a $160.00 price target on the stock. Finally, Wedbush cut Roku from an "outperform" rating to a "neutral" rating and set a $155.00 price target for the company. in a report on Tuesday, June 16th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and nineteen have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $156.17.

Roku Stock Down 0.2%

Shares of ROKU opened at $155.34 on Wednesday. Roku, Inc. has a 12-month low of $78.53 and a 12-month high of $159.89. The business has a 50-day simple moving average of $149.29 and a two-hundred day simple moving average of $125.88. The stock has a market cap of $23.06 billion, a PE ratio of 66.38 and a beta of 2.05.

Roku (NASDAQ:ROKU - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $1.08 EPS for the quarter, beating analysts' consensus estimates of $0.61 by $0.47. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.30 billion. Roku had a return on equity of 13.73% and a net margin of 6.82%.The business's revenue for the quarter was up 21.9% on a year-over-year basis. During the same period last year, the firm posted $0.07 earnings per share. On average, equities research analysts expect that Roku, Inc. will post 2.85 EPS for the current year.

Insiders Place Their Bets

In related news, insider Gilbert Fuchsberg sold 10,719 shares of Roku stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $150.00, for a total transaction of $1,607,850.00. Following the sale, the insider directly owned 40,380 shares in the company, valued at $6,057,000. This trade represents a 20.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mustafa Ozgen sold 10,194 shares of the company's stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $144.00, for a total transaction of $1,467,936.00. Following the completion of the transaction, the insider owned 19,185 shares of the company's stock, valued at approximately $2,762,640. This trade represents a 34.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 127,773 shares of company stock worth $18,442,050 over the last quarter. 13.45% of the stock is currently owned by corporate insiders.

More Roku News

Here are the key news stories impacting Roku this week:

• Positive Sentiment: Coverage of Roku’s NFL-related announcement could support user engagement and streaming activity, although the financial impact was not quantified. Roku NFL announcement
• Neutral Sentiment: Consumer coverage highlighted discounts and product availability for Roku streaming sticks, smart TVs, and Roku-enabled projectors. These promotions may aid device adoption but are unlikely to materially change near-term revenue expectations. Roku Streaming Stick deal Roku smart TV coverage
• Neutral Sentiment: Roku’s products continued to receive favorable comparisons with competing streaming devices, but the reviews and buying guides do not represent a new corporate catalyst. Roku device comparison
• Negative Sentiment: The DOJ’s expanded antitrust inquiry into Fox’s proposed acquisition is the dominant stock catalyst. A second request increases regulatory scrutiny and could delay completion, raise transaction costs, require concessions, or threaten the deal’s terms. Reports specifically linked the development to weakness in ROKU shares during after-hours trading. Reuters DOJ Roku deal report ROKU after-hours reaction

Roku 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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