Susquehanna Fundamental Investments LLC Purchases Shares of 57,357 Roku, Inc. (NASDAQ:ROKU)

Susquehanna Fundamental Investments LLC acquired a new stake in Roku, Inc. (NASDAQ:ROKU) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 57,357 shares of the company’s stock, valued at approximately $3,437,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Mackenzie Financial Corp purchased a new position in Roku during the 2nd quarter valued at about $662,000. Maverick Capital Ltd. lifted its holdings in Roku by 151.0% in the 2nd quarter. Maverick Capital Ltd. now owns 55,921 shares of the company’s stock worth $3,351,000 after buying an additional 33,643 shares during the period. MBB Public Markets I LLC bought a new stake in shares of Roku in the 2nd quarter worth approximately $554,000. APG Asset Management N.V. increased its stake in shares of Roku by 185.3% during the second quarter. APG Asset Management N.V. now owns 14,166 shares of the company’s stock valued at $792,000 after buying an additional 9,200 shares during the period. Finally, AQR Capital Management LLC raised its holdings in shares of Roku by 645.3% during the second quarter. AQR Capital Management LLC now owns 221,557 shares of the company’s stock valued at $13,278,000 after acquiring an additional 191,831 shares in the last quarter. 86.30% of the stock is owned by institutional investors.

Insider Activity at Roku

In related news, CEO Anthony J. Wood sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $75.00, for a total value of $1,875,000.00. Following the transaction, the chief executive officer now directly owns 5,020 shares of the company’s stock, valued at approximately $376,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Dan Jedda sold 1,000 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $75.33, for a total transaction of $75,330.00. Following the sale, the chief financial officer now directly owns 54,267 shares of the company’s stock, valued at $4,087,933.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $75.00, for a total value of $1,875,000.00. Following the completion of the transaction, the chief executive officer now directly owns 5,020 shares of the company’s stock, valued at approximately $376,500. The disclosure for this sale can be found here. Insiders sold 46,945 shares of company stock valued at $3,465,135 over the last 90 days. Corporate insiders own 13.98% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ROKU. Guggenheim upgraded shares of Roku from a “neutral” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Friday, August 23rd. Macquarie reduced their price target on shares of Roku from $88.00 to $72.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Wells Fargo & Company upgraded shares of Roku from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $50.00 to $72.00 in a report on Thursday, September 5th. Wolfe Research upgraded Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 target price on the stock in a report on Thursday, September 12th. Finally, Bank of America decreased their target price on Roku from $85.00 to $75.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $79.10.

Roku Price Performance

Shares of NASDAQ:ROKU opened at $74.41 on Monday. The business has a fifty day moving average price of $64.43 and a 200-day moving average price of $61.53. The company has a market capitalization of $10.77 billion, a PE ratio of -18.65 and a beta of 2.06. Roku, Inc. has a 1-year low of $48.33 and a 1-year high of $108.84.

Roku (NASDAQ:ROKU) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.21. The business had revenue of $968.18 million during the quarter, compared to analyst estimates of $937.78 million. Roku had a negative net margin of 13.16% and a negative return on equity of 21.03%. Roku’s revenue was up 14.3% compared to the same quarter last year. During the same period last year, the business earned ($0.76) EPS. On average, sell-side analysts anticipate that Roku, Inc. will post -1.44 earnings per share for the current fiscal year.

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.