Maverick Capital Ltd. Has $2.21 Million Position in Roku, Inc. (NASDAQ:ROKU)

Maverick Capital Ltd. reduced its holdings in Roku, Inc. (NASDAQ:ROKU) by 47.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 29,603 shares of the company’s stock after selling 26,318 shares during the period. Maverick Capital Ltd.’s holdings in Roku were worth $2,210,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. Westfield Capital Management Co. LP increased its stake in Roku by 126.1% in the third quarter. Westfield Capital Management Co. LP now owns 1,535,576 shares of the company’s stock valued at $114,646,000 after purchasing an additional 856,401 shares in the last quarter. JAT Capital Mgmt LP grew its position in Roku by 470.2% in the third quarter. JAT Capital Mgmt LP now owns 540,577 shares of the company’s stock valued at $40,359,000 after purchasing an additional 445,777 shares in the last quarter. FMR LLC grew its position in Roku by 1.7% in the third quarter. FMR LLC now owns 14,570,372 shares of the company’s stock valued at $1,087,824,000 after purchasing an additional 244,793 shares in the last quarter. AQR Capital Management LLC increased its position in Roku by 645.3% during the second quarter. AQR Capital Management LLC now owns 221,557 shares of the company’s stock worth $13,278,000 after acquiring an additional 191,831 shares during the period. Finally, ARK Investment Management LLC increased its position 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 Trading Up 1.9 %

Shares of Roku stock opened at $69.03 on Friday. The firm has a market capitalization of $10.02 billion, a P/E ratio of -57.52 and a beta of 2.07. The business has a fifty day simple moving average of $73.63 and a two-hundred day simple moving average of $65.34. Roku, Inc. has a 12 month low of $48.33 and a 12 month high of $108.84.

Roku (NASDAQ:ROKU) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.29. Roku had a negative return on equity of 7.22% and a negative net margin of 4.42%. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same period last year, the company earned ($2.33) earnings per share. The company’s revenue was up 16.5% on a year-over-year basis. Analysts predict that Roku, Inc. will post -1.1 earnings per share for the current year.

Insider Buying and Selling at Roku

In related news, insider Gilbert Fuchsberg sold 1,693 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $64.39, for a total value 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. This trade represents a 4.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Charles Collier sold 15,454 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 200 shares of the company’s stock, valued at approximately $15,000. The trade was a 98.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 90,240 shares of company stock valued at $6,729,582 in the last 90 days. Insiders own 13.98% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ROKU shares. Citigroup lifted their target price on shares of Roku from $60.00 to $77.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Rosenblatt Securities boosted their price target on shares of Roku from $61.00 to $86.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. UBS Group initiated coverage on shares of Roku in a research report on Friday, November 22nd. They issued a “neutral” rating and a $73.00 price target on the stock. Guggenheim upgraded shares of Roku from a “neutral” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Friday, August 23rd. Finally, Benchmark reiterated a “buy” rating and set a $105.00 target price on shares of Roku in a research report on Thursday, September 12th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $82.62.

Roku Company 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.