Joule Financial LLC Buys New Position in Roku, Inc. (NASDAQ:ROKU)

Joule Financial LLC purchased a new position in shares of Roku, Inc. (NASDAQ:ROKU - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,955 shares of the company's stock, valued at approximately $631,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Princeton Global Asset Management LLC purchased a new stake in Roku in the 1st quarter valued at about $35,000. Gateway Investment Advisers LLC grew its holdings in shares of Roku by 7.1% in the first quarter. Gateway Investment Advisers LLC now owns 14,620 shares of the company's stock valued at $1,030,000 after acquiring an additional 974 shares in the last quarter. Fluent Financial LLC grew its holdings in shares of Roku by 99.6% in the first quarter. Fluent Financial LLC now owns 17,727 shares of the company's stock valued at $1,249,000 after acquiring an additional 8,845 shares in the last quarter. Merit Financial Group LLC increased its position in shares of Roku by 17.2% during the first quarter. Merit Financial Group LLC now owns 10,111 shares of the company's stock valued at $712,000 after acquiring an additional 1,487 shares during the last quarter. Finally, O Keefe Stevens Advisory Inc. lifted its holdings in Roku by 27.5% during the first quarter. O Keefe Stevens Advisory Inc. now owns 4,965 shares of the company's stock worth $350,000 after acquiring an additional 1,072 shares during the period. 86.30% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Roku news, CAO Matthew C. Banks sold 629 shares of the company's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $72.98, for a total value of $45,904.42. Following the transaction, the chief accounting officer now directly owns 8,555 shares in the company, valued at $624,343.90. This represents a 6.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Dan Jedda sold 1,000 shares of the firm's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $75.00, for a total value of $75,000.00. Following the completion of the sale, the chief financial officer now directly owns 68,843 shares in the company, valued at approximately $5,163,225. The trade was a 1.43% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,823 shares of company stock worth $2,908,615. Corporate insiders own 13.98% of the company's stock.

Analyst Upgrades and Downgrades

ROKU has been the subject of a number of recent analyst reports. Evercore ISI reduced their price objective on Roku from $105.00 to $80.00 and set an "in-line" rating for the company in a research note on Friday, May 2nd. Redburn Atlantic upgraded shares of Roku from a "neutral" rating to a "buy" rating and set a $100.00 price target for the company in a research report on Monday, April 7th. JMP Securities reaffirmed a "market outperform" rating and issued a $95.00 price objective on shares of Roku in a research report on Monday, June 2nd. FBN Securities initiated coverage on shares of Roku in a research report on Friday, March 28th. They set an "outperform" rating and a $93.00 target price for the company. Finally, Guggenheim restated a "buy" rating and set a $100.00 price target on shares of Roku in a research note on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $88.37.

Roku Trading Up 5.3%

ROKU stock opened at $78.55 on Friday. The firm has a 50 day moving average of $65.61 and a 200-day moving average of $74.44. The firm has a market capitalization of $11.46 billion, a P/E ratio of -88.26 and a beta of 2.06. Roku, Inc. has a 12 month low of $48.33 and a 12 month high of $104.96.

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

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