Prospera Financial Services Inc Purchases 31,561 Shares of Roku, Inc. $ROKU

Key Points

• Prospera Financial Services sharply increased its Roku stake in the fourth quarter, buying 31,561 additional shares and lifting its holdings to 35,371 shares worth about $3.84 million.
• Insiders sold heavily over the last three months, including CFO Dan Jedda and insider Charles Collier, with total insider sales reaching 692,038 shares valued at about $76.7 million.
• Analysts remain positive on Roku after its latest earnings beat expectations, with 21 Buy ratings, five Hold ratings, and a consensus price target of $143.42.

Prospera Financial Services Inc boosted its position in shares of Roku, Inc. (NASDAQ:ROKU - Free Report) by 828.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,371 shares of the company's stock after acquiring an additional 31,561 shares during the quarter. Prospera Financial Services Inc's holdings in Roku were worth $3,837,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Apollon Wealth Management LLC raised its position in Roku by 1.5% during the fourth quarter. Apollon Wealth Management LLC now owns 6,450 shares of the company's stock worth $700,000 after acquiring an additional 96 shares in the last quarter. Cornerstone Wealth Management LLC raised its position in Roku by 3.8% during the third quarter. Cornerstone Wealth Management LLC now owns 2,728 shares of the company's stock worth $273,000 after acquiring an additional 100 shares in the last quarter. Thoroughbred Financial Services LLC raised its position in Roku by 1.0% during the third quarter. Thoroughbred Financial Services LLC now owns 9,945 shares of the company's stock worth $995,000 after acquiring an additional 100 shares in the last quarter. Swiss Life Asset Management Ltd raised its position in Roku by 2.2% during the fourth quarter. Swiss Life Asset Management Ltd now owns 5,969 shares of the company's stock worth $648,000 after acquiring an additional 127 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of Roku by 3.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,664 shares of the company's stock valued at $398,000 after purchasing an additional 135 shares during the period. 86.30% of the stock is owned by institutional investors.

Insider Buying and Selling at Roku

In related news, CFO Dan Jedda sold 15,000 shares of the firm's stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $94.23, for a total transaction of $1,413,450.00. Following the transaction, the chief financial officer directly owned 85,115 shares of the company's stock, valued at approximately $8,020,386.45. This trade represents a 14.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Charles Collier sold 205,821 shares of the firm's stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $105.00, for a total transaction of $21,611,205.00. Following the transaction, the insider directly owned 11,131 shares in the company, valued at approximately $1,168,755. This represents a 94.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. 13.45% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ROKU. Citizens Jmp increased their price objective on shares of Roku from $160.00 to $170.00 and gave the company a "market outperform" rating in a research report on Friday, May 1st. Stifel Nicolaus set a $160.00 price objective on shares of Roku in a research report on Monday, March 2nd. Rosenblatt Securities increased their price objective on shares of Roku from $118.00 to $150.00 and gave the company a "buy" rating in a research report on Friday, May 1st. Benchmark increased their price objective on shares of Roku from $130.00 to $160.00 and gave the company a "buy" rating in a research report on Friday, May 1st. Finally, Oppenheimer increased their price objective on shares of Roku from $105.00 to $120.00 and gave the company an "outperform" rating in a research report on Friday, February 13th. Twenty-one investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $143.42.

Roku Price Performance

Shares of ROKU opened at $125.55 on Tuesday. The firm has a market capitalization of $18.51 billion, a PE ratio of 94.40 and a beta of 2.04. The company's 50-day moving average is $109.51 and its 200-day moving average is $103.66. Roku, Inc. has a fifty-two week low of $67.67 and a fifty-two week high of $131.39.

Roku (NASDAQ:ROKU - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The company reported $0.57 EPS for the quarter, topping 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 business had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period last year, the firm earned ($0.19) earnings per share. Roku's revenue for the quarter was up 22.4% compared to the same quarter last year. Analysts predict 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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