Proficio Capital Partners LLC Purchases New Holdings in Roku, Inc. $ROKU

Proficio Capital Partners LLC acquired a new position 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 institutional investor acquired 3,825 shares of the company’s stock, valued at approximately $528,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Bayban increased its holdings in shares of Roku by 1,300.0% during the first quarter. Bayban now owns 280 shares of the company’s stock valued at $26,000 after acquiring an additional 260 shares in the last quarter. Safe Harbor Fiduciary LLC purchased a new stake in shares of Roku during the fourth quarter valued at approximately $31,000. Rakuten Securities Inc. increased its position in shares of Roku by 55.6% during the second quarter. Rakuten Securities Inc. now owns 442 shares of the company’s stock valued at $39,000 after acquiring an additional 158 shares in the last quarter. Elevation Wealth Partners LLC increased its position in shares of Roku by 208.7% during the second quarter. Elevation Wealth Partners LLC now owns 318 shares of the company’s stock valued at $44,000 after acquiring an additional 215 shares in the last quarter. Finally, Osbon Capital Management LLC purchased a new position in Roku in the 4th quarter worth approximately $45,000. 86.30% of the stock is owned by institutional investors.

Key Stories Impacting Roku

Here are the key news stories impacting Roku this week:

• Positive Sentiment: Roku launched its first OLED televisions, introducing the Roku Pro Series OLED and Pro Series LX OLED at prices starting at $999. The aggressive pricing positions Roku below many competing OLED models and could help the company gain share in the premium TV market while expanding its platform, advertising and content ecosystem. The TVs are available exclusively through Amazon. Roku Launches All-New Pro Series OLED and Pro Series LX OLED TVs
• Positive Sentiment: Multiple technology publications highlighted Roku’s decision to bring OLED picture quality to a more accessible price point, increasing visibility for the brand and potentially strengthening its position in connected-TV hardware. Roku’s first OLED TVs undercut the midrange competition
• Neutral Sentiment: The new products could improve Roku’s premium-TV mix, but the financial benefit is uncertain. Hardware sales typically carry less attractive margins than platform advertising and may require marketing and promotional spending before generating meaningful ecosystem benefits. Roku Crashes The OLED TV Party With Pro Series Starting At $999
• Neutral Sentiment: A Roku-powered Aurzen portable projector is being promoted at a discounted price, offering another way for consumers to use Roku’s interface, although the deal is unlikely to have a material near-term effect on revenue. Roku TV Built-In Aurzen Portable Projector Hits Its Lowest Price
• Neutral Sentiment: Roku recently reported revenue growth of 21.9% year over year and earnings above analyst expectations, providing a favorable fundamental backdrop. However, the stock’s elevated valuation and beta mean investors may demand strong execution from the OLED launch.

Roku Stock Performance

Shares of NASDAQ:ROKU opened at $157.70 on Thursday. The stock’s 50-day simple moving average is $147.69 and its two-hundred day simple moving average is $124.00. The stock has a market capitalization of $23.41 billion, a price-to-earnings ratio of 67.39 and a beta of 2.05. Roku, Inc. has a 52-week low of $78.53 and a 52-week high of $159.89.

Roku (NASDAQ:ROKU) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.47. Roku had a net margin of 6.82% and a return on equity of 13.73%. The firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter in the previous year, the firm posted $0.07 EPS. The company’s revenue for the quarter was up 21.9% compared to the same quarter last year. As a group, equities analysts forecast that Roku, Inc. will post 2.85 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ROKU shares. Wedbush cut Roku from an “outperform” rating to a “neutral” rating and set a $155.00 price target for the company. in a research note on Tuesday, June 16th. Zacks Research upgraded Roku from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 11th. Guggenheim lowered Roku from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $145.00 to $160.00 in a research report on Friday, August 7th. Evercore cut shares of Roku from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 15th. Finally, Needham & Company LLC reiterated a “buy” rating on shares of Roku in a research note on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and nineteen have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $156.17.

Insiders Place Their Bets

In other news, insider Charles Collier sold 20,538 shares of Roku stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $145.93, for a total transaction of $2,997,110.34. Following the transaction, the insider directly owned 15,200 shares of the company’s stock, valued at $2,218,136. The trade was a 57.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gilbert Fuchsberg sold 10,719 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $150.00, for a total value of $1,607,850.00. Following the transaction, the insider owned 40,380 shares of the company’s stock, valued at approximately $6,057,000. This trade represents a 20.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 124,927 shares of company stock valued at $17,321,537. 13.45% of the stock is currently owned by corporate insiders.

Roku 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.