Thompson Davis & CO. Inc. Buys Shares of 3,150 Roku, Inc. (NASDAQ:ROKU)

Key Points

• Thompson Davis & CO. Inc. has acquired 3,150 shares of Roku, Inc. for approximately $222,000, reflecting increasing interest from institutional investors in the company's stock.
• Roku's stock recently opened at $87.51 and is showing a significant increase in quarterly revenue, up 14.7% year-over-year, with an earnings per share result of $0.07.
• Insider activity at Roku has been notable, with CEO Anthony J. Wood selling 25,000 shares, reducing his position by 60.33%, and insiders collectively selling over 337,000 shares valued at more than $30 million in the past three months.

Thompson Davis & CO. Inc. bought a new stake in shares of Roku, Inc. (NASDAQ:ROKU - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 3,150 shares of the company's stock, valued at approximately $222,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Garde Capital Inc. purchased a new stake in shares of Roku during the first quarter worth about $25,000. Golden State Wealth Management LLC increased its position in Roku by 125.4% during the first quarter. Golden State Wealth Management LLC now owns 444 shares of the company's stock worth $31,000 after purchasing an additional 247 shares during the last quarter. Princeton Global Asset Management LLC acquired a new position in shares of Roku in the 1st quarter valued at $35,000. First PREMIER Bank acquired a new position in shares of Roku in the 1st quarter valued at $35,000. Finally, Fourth Dimension Wealth LLC acquired a new position in shares of Roku in the 4th quarter valued at $41,000. 86.30% of the stock is currently owned by hedge funds and other institutional investors.

Roku Stock Performance

Roku stock opened at $87.51 on Friday. The company has a 50-day simple moving average of $85.95 and a 200-day simple moving average of $77.35. The firm has a market capitalization of $12.89 billion, a P/E ratio of -208.36, a P/E/G ratio of 12.33 and a beta of 2.05. Roku, Inc. has a one year low of $52.43 and a one year high of $104.96.

Roku (NASDAQ:ROKU - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.07 EPS for the quarter, topping the consensus estimate of ($0.16) by $0.23. The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.07 billion. Roku had a negative net margin of 1.40% and a negative return on equity of 2.44%. The company's quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.18) earnings per share. As a group, sell-side analysts forecast that Roku, Inc. will post -0.3 earnings per share for the current year.

Insider Activity at Roku

In other Roku news, CEO Anthony J. Wood sold 25,000 shares of the company's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $82.42, for a total value of $2,060,500.00. Following the completion of the sale, the chief executive officer directly owned 16,441 shares of the company's stock, valued at approximately $1,355,067.22. This represents a 60.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Charles Collier sold 212,559 shares of the company's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $95.00, for a total transaction of $20,193,105.00. Following the completion of the sale, the insider directly owned 200 shares of the company's stock, valued at $19,000. The trade was a 99.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 337,233 shares of company stock worth $30,423,181. 13.98% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on ROKU. Citigroup reiterated a "neutral" rating and issued a $84.00 price target (up previously from $68.00) on shares of Roku in a report on Wednesday, June 18th. Wells Fargo & Company lifted their price target on shares of Roku from $100.00 to $113.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Evercore ISI reduced their price target on shares of Roku from $105.00 to $80.00 and set an "in-line" rating on the stock in a research report on Friday, May 2nd. Piper Sandler lifted their price target on shares of Roku from $65.00 to $84.00 and gave the company a "neutral" rating in a research report on Thursday, July 10th. Finally, JMP Securities lifted their price target on shares of Roku from $95.00 to $110.00 and gave the company a "market outperform" rating in a research report on Monday, July 21st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Roku has an average rating of "Moderate Buy" and a consensus target price of $98.96.

Roku Company Profile

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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