Proficio Capital Partners LLC Makes New $50,000 Investment in Roku, Inc. (NASDAQ:ROKU)

Posted by Defense World Staff on Jul 6th, 2023

Proficio Capital Partners LLC purchased a new position in shares of Roku, Inc. (NASDAQ:ROKU – Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 50,352 shares of the company’s stock, valued at approximately $50,000.

Other institutional investors also recently bought and sold shares of the company. CoreCap Advisors LLC purchased a new position in Roku during the 4th quarter worth approximately $25,000. ICA Group Wealth Management LLC purchased a new position in shares of Roku during the 4th quarter valued at approximately $25,000. Benjamin Edwards Inc. increased its holdings in shares of Roku by 33.6% during the 4th quarter. Benjamin Edwards Inc. now owns 759 shares of the company’s stock valued at $31,000 after purchasing an additional 191 shares in the last quarter. Beacon Capital Management LLC increased its holdings in shares of Roku by 155.6% during the 4th quarter. Beacon Capital Management LLC now owns 979 shares of the company’s stock valued at $40,000 after purchasing an additional 596 shares in the last quarter. Finally, TFC Financial Management Inc. purchased a new position in shares of Roku during the 4th quarter valued at approximately $41,000. 69.59% of the stock is owned by hedge funds and other institutional investors.

Roku Price Performance

Shares of ROKU stock opened at $65.07 on Thursday. The company’s 50-day moving average price is $60.73 and its 200-day moving average price is $58.46. Roku, Inc. has a twelve month low of $38.26 and a twelve month high of $97.93.

Roku (NASDAQ:ROKU – Free Report) last issued its quarterly earnings data on Wednesday, April 26th. The company reported ($1.38) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.44) by $0.06. The firm had revenue of $741.00 million for the quarter, compared to analyst estimates of $707.59 million. Roku had a negative net margin of 21.23% and a negative return on equity of 24.71%. Roku’s revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.19) EPS. Equities research analysts forecast that Roku, Inc. will post -5.23 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Evercore ISI cut 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. Oppenheimer cut their target price on shares of Roku from $85.00 to $75.00 and set an “outperform” rating for the company in a report on Thursday, April 27th. Susquehanna raised shares of Roku from a “neutral” rating to a “positive” rating and set a $75.00 target price for the company in a report on Monday, March 27th. SpectralCast reissued a “maintains” rating on shares of Roku in a report on Thursday, April 27th. Finally, Pivotal Research cut their price target on shares of Roku from $55.00 to $53.00 and set a “sell” rating for the company in a report on Thursday, April 27th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Roku presently has a consensus rating of “Hold” and an average target price of $70.81.

Insider Activity at Roku

In related news, Director Mai Fyfield sold 398 shares of the business’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $69.86, for a total value of $27,804.28. Following the sale, the director now directly owns 1,745 shares in the company, valued at approximately $121,905.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Roku news, Director Mai Fyfield sold 398 shares of the business’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $69.86, for a total transaction of $27,804.28. Following the sale, the director now directly owns 1,745 shares in the company, valued at $121,905.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gidon Katz sold 3,694 shares of the business’s stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $57.50, for a total transaction of $212,405.00. Following the sale, the insider now owns 15,450 shares in the company, valued at $888,375. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,528 shares of company stock worth $986,830. Company insiders own 13.63% of the company’s stock.

About Roku

(Free Report)

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.