Independent Financial Group LLC Purchases Shares of 17,124 Roku, Inc. $ROKU

Key Points

• Independent Financial Group LLC opened a new position in Roku during the first quarter, buying 17,124 shares valued at about $1.62 million.
• Several other hedge funds also adjusted their Roku stakes, and institutional investors now own 86.30% of the company’s stock.
• Roku’s latest results beat expectations, with EPS of $0.57 versus $0.34 expected and revenue of $1.25 billion, up 22.4% year over year; however, Wall Street’s overall view remains Hold with a consensus price target of $155.12.

Independent Financial Group LLC purchased a new position in shares of Roku, Inc. (NASDAQ:ROKU - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 17,124 shares of the company's stock, valued at approximately $1,620,000.

A number of other hedge funds also recently modified their holdings of the business. Empowered Funds LLC lifted its holdings in Roku by 18.6% during the 1st quarter. Empowered Funds LLC now owns 3,291 shares of the company's stock worth $232,000 after buying an additional 515 shares during the period. Focus Partners Wealth acquired a new stake in shares of Roku in the first quarter valued at about $229,000. EverSource Wealth Advisors LLC raised its position in shares of Roku by 145.4% during the second 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 last quarter. First Trust Advisors LP raised its position in shares of Roku by 231.0% during the second 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 last quarter. Finally, Brown Advisory Inc. acquired a new position in shares of Roku in the second quarter worth approximately $326,000. Institutional investors and hedge funds own 86.30% of the company's stock.

Wall Street Analyst Weigh In

ROKU has been the topic of several analyst reports. Wolfe Research cut Roku from an "outperform" rating to a "peer perform" rating in a report on Tuesday, June 16th. Wedbush lowered shares of 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. Fox Advisors set a $157.00 price target on shares of Roku in a research report on Friday. Susquehanna lowered shares of Roku from a "positive" rating to a "neutral" rating and set a $160.00 price objective on the stock. in a research note on Tuesday, June 16th. Finally, Needham & Company LLC increased their price objective on shares of Roku from $140.00 to $170.00 and gave the stock a "buy" rating in a research report on Monday, June 15th. Ten analysts have rated the stock with a Buy rating and seventeen have assigned a Hold rating to the company's stock. According to MarketBeat, Roku currently has a consensus rating of "Hold" and a consensus price target of $155.12.

Insider Buying and Selling at Roku

In other news, insider Charles Collier sold 20,538 shares of the firm's stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $124.23, for a total value of $2,551,435.74. Following the transaction, the insider owned 7,700 shares in the company, valued at $956,571. This trade represents a 72.73% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gilbert Fuchsberg sold 9,593 shares of Roku stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $125.52, for a total value of $1,204,113.36. Following the transaction, the insider directly owned 50,863 shares in the company, valued at approximately $6,384,323.76. The trade was a 15.87% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 236,499 shares of company stock worth $30,582,963. 13.45% of the stock is currently owned by corporate insiders.

Roku Stock Performance

ROKU opened at $144.43 on Monday. The company's fifty day moving average price is $132.72 and its two-hundred day moving average price is $112.55. Roku, Inc. has a 1-year low of $78.53 and a 1-year high of $148.88. The company has a market cap of $21.29 billion, a price-to-earnings ratio of 108.59 and a beta of 2.01.

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 analysts' consensus estimates of $0.34 by $0.23. The firm had revenue of $1.25 billion during the quarter, compared to analysts' expectations of $1.20 billion. Roku had a net margin of 4.06% and a return on equity of 7.64%. The business's revenue was up 22.4% on a year-over-year basis. During the same period last year, the company earned ($0.19) earnings per share. As a group, equities analysts forecast that Roku, Inc. will post 2.41 earnings per share for the current fiscal year.

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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