Elevation Point Wealth Partners LLC Makes New Investment in Roku, Inc. $ROKU

Elevation Point Wealth Partners LLC purchased a new position in Roku, Inc. (NASDAQ:ROKU) in the first quarter, Holdings Channel.com reports. The firm purchased 9,661 shares of the company’s stock, valued at approximately $914,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ROKU. Apollon Wealth Management LLC raised its stake in Roku by 1.5% during the 4th quarter. Apollon Wealth Management LLC now owns 6,450 shares of the company’s stock valued at $700,000 after buying an additional 96 shares during the last quarter. Quarry LP increased its position in Roku by 21.7% during the fourth quarter. Quarry LP now owns 689 shares of the company’s stock valued at $75,000 after acquiring an additional 123 shares during the last quarter. Swiss Life Asset Management Ltd lifted its holdings in Roku by 2.2% in the fourth quarter. Swiss Life Asset Management Ltd now owns 5,969 shares of the company’s stock valued at $648,000 after acquiring an additional 127 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of Roku by 3.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,664 shares of the company’s stock valued at $398,000 after purchasing an additional 135 shares during the period. Finally, Larson Financial Group LLC boosted its holdings in shares of Roku by 32.1% in the third quarter. Larson Financial Group LLC now owns 556 shares of the company’s stock worth $56,000 after buying an additional 135 shares during the last quarter. Hedge funds and other institutional investors own 86.30% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on ROKU. Morgan Stanley increased their price target on shares of Roku from $150.00 to $170.00 and gave the stock an “overweight” rating in a research report on Thursday, June 4th. Wells Fargo & Company lifted their target price on Roku from $137.00 to $167.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Jefferies Financial Group downgraded Roku from a “buy” rating to a “hold” rating and set a $160.00 price objective on the stock. in a research note on Monday, June 15th. William Blair downgraded Roku from an “outperform” rating to a “market perform” rating in a research note on Monday, June 15th. Finally, Susquehanna cut shares of Roku from a “positive” rating to a “neutral” rating and set a $160.00 target price on the stock. in a research note on Tuesday, June 16th. Eleven equities research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $153.71.

Insider Buying and Selling

In other Roku news, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction on Friday, June 12th. The shares were sold at an average price of $130.00, for a total transaction of $3,250,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $143.87, for a total transaction of $1,007,090.00. Following the completion of the sale, the chief financial officer owned 79,963 shares of the company’s stock, valued at $11,504,276.81. This trade represents a 8.05% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 713,020 shares of company stock valued at $81,860,846 over the last 90 days. 13.45% of the stock is currently owned by insiders.

Roku Stock Performance

Shares of ROKU opened at $142.49 on Tuesday. The company’s fifty day moving average is $128.77 and its 200 day moving average is $110.54. Roku, Inc. has a fifty-two week low of $78.53 and a fifty-two week high of $148.88. The stock has a market capitalization of $21.01 billion, a PE ratio of 106.85 and a beta of 2.01.

Roku (NASDAQ:ROKU) last announced its quarterly earnings results on Thursday, April 30th. The company reported $0.57 EPS for the quarter, beating 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 firm had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter last year, the firm earned ($0.19) EPS. The firm’s revenue for the quarter was up 22.4% compared to the same quarter last year. As a group, research analysts forecast that Roku, Inc. will post 2.41 earnings per share for the current year.

About Roku

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.