Cross Staff Investments Inc Takes $224,000 Position in Roku, Inc. (NASDAQ:ROKU)

Cross Staff Investments Inc purchased a new position in shares of Roku, Inc. (NASDAQ:ROKU) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,000 shares of the company’s stock, valued at approximately $224,000.

A number of other hedge funds have also bought and sold shares of the company. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Roku by 24.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,349,067 shares of the company’s stock worth $478,939,000 after buying an additional 1,457,925 shares during the last quarter. Nikko Asset Management Americas Inc. lifted its position in shares of Roku by 25.8% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 7,091,891 shares of the company’s stock worth $462,108,000 after buying an additional 1,455,408 shares during the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of Roku by 138.1% in the 1st quarter. Canada Pension Plan Investment Board now owns 342,400 shares of the company’s stock valued at $22,314,000 after buying an additional 198,600 shares during the period. AQR Capital Management LLC grew its position in shares of Roku by 645.3% during the 2nd quarter. AQR Capital Management LLC now owns 221,557 shares of the company’s stock valued at $13,278,000 after buying an additional 191,831 shares during the last quarter. Finally, ARK Investment Management LLC raised its stake in Roku by 1.3% during the second quarter. ARK Investment Management LLC now owns 12,716,432 shares of the company’s stock worth $762,096,000 after acquiring an additional 159,785 shares during the period. 86.30% of the stock is currently owned by institutional investors and hedge funds.

Roku Stock Performance

ROKU stock opened at $74.04 on Friday. The stock has a market cap of $10.67 billion, a P/E ratio of -18.56 and a beta of 2.08. The firm has a 50 day simple moving average of $72.04 and a 200 day simple moving average of $63.22. Roku, Inc. has a 52 week low of $48.33 and a 52 week high of $108.84.

Roku (NASDAQ:ROKU) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.21. The business had revenue of $968.18 million for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the previous year, the company posted ($0.76) EPS. Sell-side analysts predict that Roku, Inc. will post -1.44 EPS for the current year.

Analyst Ratings Changes

ROKU has been the subject of a number of research reports. Benchmark restated a “buy” rating and issued a $105.00 target price on shares of Roku in a research note on Thursday, September 12th. Needham & Company LLC restated a “buy” rating and set a $100.00 price objective on shares of Roku in a research report on Tuesday. Robert W. Baird increased their target price on Roku from $56.00 to $75.00 and gave the stock a “neutral” rating in a research report on Monday, September 30th. Rosenblatt Securities reduced their price target on shares of Roku from $89.00 to $61.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Finally, Wolfe Research raised shares of Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 price objective on the stock in a report on Thursday, September 12th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, Roku presently has a consensus rating of “Hold” and a consensus price target of $81.80.

Insider Activity

In other news, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the transaction, the chief executive officer now owns 5,020 shares in the company, valued at $376,500. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Charles Collier sold 15,454 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $75.00, for a total transaction of $1,159,050.00. Following the completion of the sale, the insider now directly owns 200 shares of the company’s stock, valued at approximately $15,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the completion of the transaction, the chief executive officer now owns 5,020 shares in the company, valued at $376,500. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 69,566 shares of company stock worth $5,254,000 in the last three months. 13.98% of the stock is owned by insiders.

Roku Profile

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.