Choreo LLC Takes Position in Roku, Inc. (NASDAQ:ROKU)

Choreo LLC purchased a new position in Roku, Inc. (NASDAQ:ROKU) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 5,256 shares of the company’s stock, valued at approximately $324,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Koss Olinger Consulting LLC bought a new stake in shares of Roku in the 2nd quarter valued at approximately $2,997,000. Arizona State Retirement System raised its holdings in shares of Roku by 0.7% during the second quarter. Arizona State Retirement System now owns 34,656 shares of the company’s stock worth $2,077,000 after purchasing an additional 251 shares during the period. Versor Investments LP lifted its position in shares of Roku by 379.6% in the 2nd quarter. Versor Investments LP now owns 34,048 shares of the company’s stock worth $2,040,000 after buying an additional 26,949 shares during the last quarter. AM Squared Ltd acquired a new position in shares of Roku in the 2nd quarter valued at about $66,000. Finally, nVerses Capital LLC grew its position in shares of Roku by 100.0% during the 2nd quarter. nVerses Capital LLC now owns 3,200 shares of the company’s stock valued at $192,000 after buying an additional 1,600 shares during the last quarter. 86.30% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Roku news, insider Gilbert Fuchsberg sold 1,693 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $64.39, for a total transaction of $109,012.27. Following the completion of the sale, the insider now directly owns 38,602 shares in the company, valued at $2,485,582.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Gilbert Fuchsberg sold 1,693 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total transaction of $109,012.27. Following the completion of the transaction, the insider now owns 38,602 shares of the company’s stock, valued at approximately $2,485,582.78. 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 3,590 shares of Roku stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $65.00, for a total value of $233,350.00. Following the completion of the transaction, the insider now directly owns 12,064 shares in the company, valued at $784,160. The disclosure for this sale can be found here. Insiders have sold 45,945 shares of company stock worth $3,389,805 in the last quarter. 13.98% of the stock is currently owned by company insiders.

Roku Price Performance

Shares of NASDAQ:ROKU opened at $74.67 on Wednesday. The stock has a market capitalization of $10.76 billion, a P/E ratio of -18.71 and a beta of 2.06. The business has a 50-day moving average of $62.38 and a two-hundred day moving average of $60.84. Roku, Inc. has a fifty-two week low of $48.33 and a fifty-two week high of $108.84.

Roku (NASDAQ:ROKU) last posted its earnings results on Thursday, August 1st. The company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.21. Roku had a negative return on equity of 21.03% and a negative net margin of 13.16%. The firm had revenue of $968.18 million during the quarter, compared to analyst estimates of $937.78 million. During the same period in the previous year, the company earned ($0.76) EPS. The company’s revenue for the quarter was up 14.3% on a year-over-year basis. As a group, research analysts expect that Roku, Inc. will post -1.45 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have commented on ROKU shares. Wolfe Research upgraded Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 target price for the company in a research note on Thursday, September 12th. Guggenheim upgraded Roku from a “neutral” rating to a “buy” rating and set a $75.00 price objective for the company in a research note on Friday, August 23rd. Wedbush reiterated an “outperform” rating and issued a $75.00 target price on shares of Roku in a research note on Friday, August 2nd. Wells Fargo & Company upgraded shares of Roku from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $50.00 to $72.00 in a research report on Thursday, September 5th. Finally, Rosenblatt Securities reduced their target price on shares of Roku from $89.00 to $61.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Three analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Roku currently has a consensus rating of “Hold” and a consensus price target of $78.25.

About Roku

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.