Highland Capital Management LLC Purchases 39,797 Shares of Roku, Inc. $ROKU

Key Points

• Highland Capital Management LLC significantly increased its holdings in Roku, Inc. by 153.2%, acquiring an additional 39,797 shares, bringing its total ownership to 65,770 shares valued at approximately $5.78 million.
• A number of analysts have upgraded Roku's rating, with Wells Fargo raising its price target from $100 to $113, reflecting positive sentiment as the stock is currently rated a "Moderate Buy" overall.
• Insider trading activity includes notable sales by executives, including Charles Collier, who sold 212,559 shares for over $20 million, resulting in a dramatic decrease in his ownership stake.

Highland Capital Management LLC raised its position in Roku, Inc. (NASDAQ:ROKU - Free Report) by 153.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 65,770 shares of the company's stock after purchasing an additional 39,797 shares during the quarter. Highland Capital Management LLC's holdings in Roku were worth $5,781,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of ROKU. Acadian Asset Management LLC raised its position in Roku by 456.7% in the first quarter. Acadian Asset Management LLC now owns 1,905,779 shares of the company's stock valued at $134,222,000 after purchasing an additional 1,563,449 shares during the last quarter. Duquesne Family Office LLC bought a new position in Roku in the first quarter valued at about $34,769,000. Northwestern Mutual Wealth Management Co. raised its position in Roku by 38,431.7% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 489,353 shares of the company's stock valued at $34,470,000 after purchasing an additional 488,083 shares during the last quarter. AQR Capital Management LLC raised its position in Roku by 491.5% in the first quarter. AQR Capital Management LLC now owns 562,027 shares of the company's stock valued at $38,943,000 after purchasing an additional 467,005 shares during the last quarter. Finally, Driehaus Capital Management LLC bought a new position in Roku in the first quarter valued at about $32,821,000. 86.30% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company raised their price objective on Roku from $100.00 to $113.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Weiss Ratings restated a "sell (d-)" rating on shares of Roku in a research report on Saturday, September 27th. Rosenblatt Securities raised their price objective on Roku from $75.00 to $101.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. Wall Street Zen upgraded Roku from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Finally, KeyCorp raised their price objective on Roku from $115.00 to $116.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $101.33.

Insider Activity

In other news, insider Charles Collier sold 212,559 shares of the firm's stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $95.00, for a total value of $20,193,105.00. Following the transaction, the insider owned 200 shares in the company, valued at $19,000. This trade represents a 99.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mustafa Ozgen sold 50,527 shares of the firm's stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $100.00, for a total value of $5,052,700.00. The disclosure for this sale can be found here. Insiders have sold 529,986 shares of company stock worth $51,523,263 over the last 90 days. 13.98% of the stock is currently owned by corporate insiders.

Roku Stock Up 0.0%

ROKU stock opened at $103.85 on Friday. Roku, Inc. has a twelve month low of $52.43 and a twelve month high of $105.45. The stock's 50 day moving average is $93.99 and its 200-day moving average is $81.03. The firm has a market capitalization of $15.30 billion, a PE ratio of -247.26, a P/E/G ratio of 14.54 and a beta of 2.13.

Roku (NASDAQ:ROKU - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $0.07 earnings per share for the quarter, beating analysts' consensus estimates of ($0.16) by $0.23. Roku had a negative return on equity of 2.44% and a negative net margin of 1.40%.The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the company earned ($0.18) earnings per share. The company's revenue for the quarter was up 14.7% on a year-over-year basis. Roku has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. On average, equities research analysts anticipate 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.

Want to see what other hedge funds are holding ROKU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Roku, Inc. (NASDAQ:ROKU - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.