Havemeyer Place LP Invests $1.08 Million in Roku, Inc. $ROKU

Key Points

• Havemeyer Place LP disclosed a new position in Roku during the fourth quarter, buying 9,905 shares valued at about $1.08 million.
• Institutional interest in Roku remains strong, with hedge funds and other investors owning 86.3% of the company’s shares. At the same time, insiders have sold a notable amount of stock recently under pre-arranged trading plans.
• Roku posted better-than-expected quarterly results, including $0.57 EPS versus $0.34 expected and revenue growth of 22.4% year over year, while analysts remain broadly positive with a Moderate Buy consensus and an average price target of $145.29.

Havemeyer Place LP purchased a new stake in Roku, Inc. (NASDAQ:ROKU - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 9,905 shares of the company's stock, valued at approximately $1,075,000.

Several other hedge funds have also recently bought and sold shares of ROKU. Empowered Funds LLC raised its holdings in Roku by 18.6% in the first quarter. Empowered Funds LLC now owns 3,291 shares of the company's stock valued at $232,000 after buying an additional 515 shares during the period. Focus Partners Wealth purchased a new position in Roku in the first quarter valued at approximately $229,000. EverSource Wealth Advisors LLC raised its holdings in Roku by 145.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,394 shares of the company's stock valued at $123,000 after buying an additional 826 shares during the period. First Trust Advisors LP raised its holdings in Roku by 231.0% in the second quarter. First Trust Advisors LP now owns 70,786 shares of the company's stock valued at $6,221,000 after buying an additional 49,399 shares during the period. Finally, Brown Advisory Inc. purchased a new position in Roku in the second quarter valued at approximately $326,000. Hedge funds and other institutional investors own 86.30% of the company's stock.

Insider Buying and Selling at Roku

In other news, insider Gilbert Fuchsberg sold 4,376 shares of the firm's stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $127.26, for a total transaction of $556,889.76. Following the completion of the sale, the insider owned 51,099 shares of the company's stock, valued at approximately $6,502,858.74. This trade represents a 7.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Charles Collier sold 7,067 shares of the firm's stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $127.26, for a total transaction of $899,346.42. Following the sale, the insider directly owned 15,200 shares of the company's stock, valued at $1,934,352. The trade was a 31.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 696,631 shares of company stock valued at $77,636,680. Corporate insiders own 13.45% of the company's stock.

Roku Price Performance

Shares of NASDAQ:ROKU opened at $122.26 on Monday. Roku, Inc. has a 52-week low of $73.91 and a 52-week high of $133.46. The company has a 50 day moving average of $115.32 and a two-hundred day moving average of $105.21. The company has a market capitalization of $18.02 billion, a price-to-earnings ratio of 91.93 and a beta of 2.06.

Roku (NASDAQ:ROKU - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.23. Roku had a net margin of 4.06% and a return on equity of 7.64%. The company had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter last year, the company earned ($0.19) earnings per share. Roku's revenue for the quarter was up 22.4% on a year-over-year basis. On average, equities analysts anticipate that Roku, Inc. will post 2.41 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on ROKU shares. Guggenheim raised their price target on shares of Roku from $130.00 to $140.00 and gave the company a "buy" rating in a report on Friday, May 1st. Weiss Ratings restated a "hold (c-)" rating on shares of Roku in a report on Friday, May 15th. Citizens Jmp restated a "market outperform" rating and issued a $170.00 price target on shares of Roku in a report on Thursday, May 28th. Wedbush increased their price objective on shares of Roku from $140.00 to $155.00 and gave the company an "outperform" rating in a research report on Friday, May 1st. Finally, Susquehanna increased their price objective on shares of Roku from $130.00 to $160.00 and gave the company a "positive" rating in a research report on Friday, May 1st. Twenty-two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Roku currently has an average rating of "Moderate Buy" and an average price target of $145.29.

Roku News Roundup

Here are the key news stories impacting Roku this week:

• Positive Sentiment: Roku continues to expand its free ad-supported streaming lineup, adding new channels including Sports Illustrated and FIFA Plus, plus four more free channels in June. That supports engagement on The Roku Channel and could improve ad inventory and viewing time. Article Title
• Positive Sentiment: The company also launched a $25 bundle pairing the Streaming Stick Plus with Fox One, which may help drive device sales and keep Roku’s ecosystem competitive. Article Title
• Positive Sentiment: Roku has been benefiting from a bullish narrative around its growing household reach and stronger live-sports positioning, which investors may see as supportive of future ad and platform revenue. Article Title

About Roku

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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