Burney Co. Purchases 23,567 Shares of Roku, Inc. $ROKU

Burney Co. raised its position in Roku, Inc. (NASDAQ:ROKU) by 96.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 48,061 shares of the company’s stock after acquiring an additional 23,567 shares during the quarter. Burney Co.’s holdings in Roku were worth $4,548,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of ROKU. Blue Trust Inc. increased its holdings in Roku by 680.0% during the 4th quarter. Blue Trust Inc. now owns 234 shares of the company’s stock valued at $25,000 after purchasing an additional 204 shares during the period. Aventura Private Wealth LLC purchased a new stake in Roku in the 4th quarter worth approximately $26,000. Bayban grew its position in shares of Roku by 1,300.0% in the 1st quarter. Bayban now owns 280 shares of the company’s stock worth $26,000 after buying an additional 260 shares during the last quarter. WPG Advisers LLC bought a new stake in shares of Roku in the 4th quarter worth approximately $31,000. Finally, Safe Harbor Fiduciary LLC purchased a new position in shares of Roku during the fourth quarter valued at approximately $31,000. 86.30% of the stock is owned by institutional investors.

Roku Trading Down 0.7%

Roku stock opened at $141.21 on Wednesday. Roku, Inc. has a 12 month low of $78.53 and a 12 month high of $148.88. The company has a market capitalization of $20.82 billion, a price-to-earnings ratio of 106.17 and a beta of 2.01. The business’s fifty day simple moving average is $129.29 and its two-hundred day simple moving average is $110.78.

Roku (NASDAQ:ROKU) last posted its quarterly earnings results on Thursday, April 30th. The company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.23. The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.20 billion. Roku had a return on equity of 7.64% and a net margin of 4.06%.Roku’s quarterly revenue was up 22.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.19) EPS. On average, equities research analysts predict that Roku, Inc. will post 2.41 EPS for the current year.

Insiders Place Their Bets

In other Roku news, CEO Anthony J. Wood sold 75,000 shares of Roku stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $128.79, for a total value of $9,659,250.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Charles Collier sold 205,807 shares of the company’s stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $115.00, for a total transaction of $23,667,805.00. Following the completion of the transaction, the insider owned 7,700 shares in the company, valued at approximately $885,500. This represents a 96.39% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 527,737 shares of company stock valued at $63,176,511. Insiders own 13.45% of the company’s stock.

Wall Street Analyst Weigh In

ROKU has been the subject of a number of recent analyst reports. William Blair downgraded Roku from an “outperform” rating to a “market perform” rating in a report on Monday, June 15th. Susquehanna downgraded shares of Roku from a “positive” rating to a “neutral” rating and set a $160.00 price objective on the stock. in a research report on Tuesday, June 16th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $160.00 price objective (up from $150.00) on shares of Roku in a report on Tuesday, June 16th. Zacks Research cut shares of Roku from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 14th. Finally, Pivotal Research reaffirmed a “buy” rating and set a $160.00 target price (up from $140.00) on shares of Roku in a research note on Friday, May 1st. Eleven research analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $153.71.

Roku Company Profile

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.