North Dakota State Investment Board Invests $2.32 Million in Roku, Inc. $ROKU

Key Points

• North Dakota State Investment Board opened a new position in Roku, buying 21,424 shares valued at about $2.32 million in the fourth quarter.
• Roku’s recent quarterly results were strong, with EPS of $0.57 versus expectations of $0.34 and revenue of $1.25 billion, up 22.4% year over year.
• Wall Street sentiment remains positive, with multiple analysts raising price targets; Roku now has a Moderate Buy consensus and an average target price of $143.42.

North Dakota State Investment Board acquired a new position in shares of Roku, Inc. (NASDAQ:ROKU - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 21,424 shares of the company's stock, valued at approximately $2,324,000.

Several other hedge funds also recently modified their holdings of ROKU. Blue Trust Inc. increased its holdings in shares of Roku by 680.0% during the fourth quarter. Blue Trust Inc. now owns 234 shares of the company's stock worth $25,000 after buying an additional 204 shares in the last quarter. Aventura Private Wealth LLC bought a new stake in shares of Roku during the fourth quarter valued at approximately $26,000. Westfuller Advisors LLC bought a new stake in shares of Roku during the third quarter valued at approximately $30,000. WPG Advisers LLC bought a new stake in shares of Roku during the fourth quarter valued at approximately $31,000. Finally, Root Financial Partners LLC bought a new stake in shares of Roku during the third quarter valued at approximately $33,000. Institutional investors and hedge funds own 86.30% of the company's stock.

Roku Stock Performance

Shares of ROKU stock opened at $124.15 on Tuesday. Roku, Inc. has a 52-week low of $67.67 and a 52-week high of $131.39. The stock has a market cap of $18.30 billion, a PE ratio of 93.35 and a beta of 2.04. The firm's 50 day moving average price is $107.02 and its two-hundred day moving average price is $102.95.

Roku (NASDAQ:ROKU - Get Free Report) last announced 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. Roku had a net margin of 4.06% and a return on equity of 7.64%. The firm had revenue of $1.25 billion for the quarter, compared to analysts' expectations of $1.20 billion. During the same period last year, the firm earned ($0.19) earnings per share. The business's revenue for the quarter was up 22.4% on a year-over-year basis. As a group, sell-side analysts predict that Roku, Inc. will post 2.41 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Robert W. Baird increased their price target on shares of Roku from $130.00 to $160.00 and gave the company an "outperform" rating in a research note on Monday, May 11th. Stifel Nicolaus set a $160.00 price target on shares of Roku in a research note on Monday, March 2nd. Piper Sandler increased their price target on shares of Roku from $140.00 to $148.00 and gave the company an "overweight" rating in a research note on Friday, May 1st. KeyCorp increased their price target on shares of Roku from $140.00 to $150.00 and gave the company an "overweight" rating in a research note on Friday, May 1st. Finally, Pivotal Research reissued a "buy" rating and set a $160.00 price target (up from $140.00) on shares of Roku in a research note on Friday, May 1st. Twenty-one analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $143.42.

Insider Buying and Selling at Roku

In other Roku news, insider Gilbert Fuchsberg sold 9,593 shares of the firm's 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 of the company's stock, valued at approximately $6,384,323.76. This trade represents a 15.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Charles Collier sold 205,821 shares of the firm's stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $105.00, for a total transaction of $21,611,205.00. Following the completion of the transaction, the insider directly owned 11,131 shares in the company, valued at approximately $1,168,755. The trade was a 94.87% 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 sold a total of 692,038 shares of company stock valued at $76,667,575 in the last three months. Insiders own 13.45% of the company's stock.

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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