HB Wealth Management LLC Purchases Shares of 3,915 Roku, Inc. (NASDAQ:ROKU)

Posted by Defense World Staff on Jun 28th, 2023

HB Wealth Management LLC bought a new position in shares of Roku, Inc. (NASDAQ:ROKU – Get Rating) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 3,915 shares of the company’s stock, valued at approximately $258,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of ROKU. Renaissance Technologies LLC lifted its holdings in shares of Roku by 772.1% during the first quarter. Renaissance Technologies LLC now owns 2,808,100 shares of the company’s stock worth $351,771,000 after buying an additional 2,486,100 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Roku by 97.2% during the first quarter. Wellington Management Group LLP now owns 4,174,003 shares of the company’s stock worth $522,878,000 after buying an additional 2,057,633 shares in the last quarter. Marshall Wace LLP increased its position in shares of Roku by 579.2% in the fourth quarter. Marshall Wace LLP now owns 1,963,896 shares of the company’s stock worth $79,931,000 after purchasing an additional 1,674,747 shares during the period. Norges Bank bought a new position in shares of Roku in the fourth quarter worth $32,612,000. Finally, Man Group plc increased its position in shares of Roku by 4,763.6% in the fourth quarter. Man Group plc now owns 667,483 shares of the company’s stock worth $27,167,000 after purchasing an additional 653,759 shares during the period. Institutional investors and hedge funds own 69.59% of the company’s stock.

Insider Buying and Selling at Roku

In other news, Director Mai Fyfield sold 398 shares of the firm’s stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $69.86, for a total transaction of $27,804.28. Following the completion of the sale, the director now owns 1,745 shares of the company’s stock, valued at approximately $121,905.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Mai Fyfield sold 398 shares of the firm’s stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $69.86, for a total transaction of $27,804.28. Following the completion of the sale, the director now owns 1,745 shares of the company’s stock, valued at approximately $121,905.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Stephen H. Kay sold 754 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $60.06, for a total transaction of $45,285.24. Following the sale, the senior vice president now directly owns 79,924 shares of the company’s stock, valued at approximately $4,800,235.44. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,528 shares of company stock valued at $986,830. 13.79% of the stock is currently owned by company insiders.

Roku Price Performance

NASDAQ:ROKU opened at $63.51 on Wednesday. The company has a 50 day simple moving average of $60.03 and a two-hundred day simple moving average of $57.79. Roku, Inc. has a fifty-two week low of $38.26 and a fifty-two week high of $97.93.

Roku (NASDAQ:ROKU – Get Rating) last released its earnings results on Wednesday, April 26th. The company reported ($1.38) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.44) by $0.06. The business had revenue of $741.00 million during the quarter, compared to the consensus estimate of $707.59 million. Roku had a negative net margin of 21.23% and a negative return on equity of 24.71%. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.19) EPS. As a group, equities research analysts anticipate that Roku, Inc. will post -5.23 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ROKU. Rosenblatt Securities decreased their price target on Roku from $64.00 to $61.00 and set a “neutral” rating on the stock in a research report on Thursday, April 27th. Wells Fargo & Company decreased their price target on Roku from $67.00 to $63.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 27th. Wedbush restated an “outperform” rating and issued a $80.00 price target on shares of Roku in a research report on Monday, March 13th. Susquehanna upgraded Roku from a “neutral” rating to a “positive” rating and set a $75.00 target price on the stock in a research report on Monday, March 27th. Finally, Evercore ISI dropped their target price on shares of Roku from $75.00 to $70.00 and set an “inline” rating for the company in a report on Thursday, April 27th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $71.04.

Roku Company Profile

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Roku, Inc, together with its subsidiaries, operates a TV streaming platform. 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 company also provides digital advertising and related services, including the demand-side ad platform and content distribution services, such as subscription and transaction revenue shares; media and entertainment promotional spending services; premium subscriptions services; video and display advertising services; and sells branded channel buttons on remote controls of streaming device.