Roku, Inc. $ROKU Shares Sold by Beck Bode LLC

Key Points

• Beck Bode LLC trimmed its Roku stake by 4.8% in the fourth quarter, selling 9,939 shares and leaving it with 195,981 shares worth about $21.26 million.
• Wall Street sentiment remains broadly positive on Roku, with 21 Buy ratings and five Hold ratings; analysts’ consensus price target is $143.42, and several firms recently raised targets.
• Roku reported strong quarterly results, posting $0.57 EPS on $1.25 billion in revenue, both above estimates, while revenue rose 22.4% year over year.

Beck Bode LLC reduced its stake in shares of Roku, Inc. (NASDAQ:ROKU - Free Report) by 4.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 195,981 shares of the company's stock after selling 9,939 shares during the period. Roku comprises approximately 3.5% of Beck Bode LLC's holdings, making the stock its 5th biggest position. Beck Bode LLC owned 0.13% of Roku worth $21,262,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in ROKU. Empowered Funds LLC grew 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 acquiring an additional 515 shares in the last quarter. Focus Partners Wealth acquired a new position in Roku during the 1st quarter worth $229,000. EverSource Wealth Advisors LLC grew its holdings in Roku by 145.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,394 shares of the company's stock worth $123,000 after acquiring an additional 826 shares in the last quarter. First Trust Advisors LP grew its holdings in Roku by 231.0% during the 2nd 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 in the last quarter. Finally, Brown Advisory Inc. acquired a new position in Roku during the 2nd quarter worth $326,000. 86.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ROKU. Oppenheimer raised their price target on shares of Roku from $105.00 to $120.00 and gave the stock an "outperform" rating in a research report on Friday, February 13th. Zacks Research downgraded shares of Roku from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 14th. UBS Group restated an "outperform" rating and issued a $145.00 price target on shares of Roku in a research report on Friday, May 1st. Piper Sandler raised their price target on shares of Roku from $140.00 to $148.00 and gave the stock an "overweight" rating in a research report on Friday, May 1st. Finally, Benchmark raised their price target on shares of Roku from $130.00 to $160.00 and gave the stock a "buy" rating in a research report on Friday, May 1st. Twenty-one equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Roku currently has an average rating of "Moderate Buy" and a consensus price target of $143.42.

Insider Transactions at Roku

In related news, insider Charles Collier sold 20,538 shares of Roku stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $124.23, for a total value of $2,551,435.74. Following the sale, the insider directly owned 7,700 shares in the company, valued at $956,571. This trade represents a 72.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Dan Jedda sold 7,000 shares of Roku stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $122.56, for a total transaction of $857,920.00. Following the completion of the sale, the chief financial officer owned 71,115 shares in the company, valued at approximately $8,715,854.40. This represents a 8.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 692,038 shares of company stock worth $76,667,575 over the last 90 days. Corporate insiders own 13.45% of the company's stock.

Roku Stock Performance

Roku stock opened at $125.55 on Friday. The firm's 50-day moving average is $108.89 and its 200-day moving average is $103.56. Roku, Inc. has a 1 year low of $67.67 and a 1 year high of $131.39. The company has a market cap of $18.51 billion, a P/E ratio of 94.40 and a beta of 2.04.

Roku (NASDAQ:ROKU - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The company reported $0.57 earnings per share (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 company had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same period last year, the firm posted ($0.19) EPS. The company'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 year.

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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