Safe Harbor Fiduciary LLC Acquires New Stake in Roku, Inc. (NASDAQ:ROKU)

Safe Harbor Fiduciary LLC acquired a new stake in shares of Roku, Inc. (NASDAQ:ROKU) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 2,300 shares of the company’s stock, valued at approximately $172,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Future Financial Wealth Managment LLC bought a new position in Roku during the 3rd quarter valued at approximately $43,000. GS Investments Inc. increased its holdings in shares of Roku by 33.4% in the 3rd quarter. GS Investments Inc. now owns 587 shares of the company’s stock worth $44,000 after purchasing an additional 147 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Roku by 123.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company’s stock worth $40,000 after purchasing an additional 375 shares in the last quarter. Cedar Wealth Management LLC bought a new stake in shares of Roku in the 2nd quarter worth $48,000. Finally, Venturi Wealth Management LLC increased its holdings in shares of Roku by 50.6% in the 3rd quarter. Venturi Wealth Management LLC now owns 991 shares of the company’s stock worth $74,000 after purchasing an additional 333 shares in the last quarter. Institutional investors own 86.30% of the company’s stock.

Roku Trading Up 9.6 %

NASDAQ:ROKU opened at $82.94 on Thursday. Roku, Inc. has a 12 month low of $48.33 and a 12 month high of $108.84. The business’s 50-day moving average is $73.86 and its 200 day moving average is $65.72.

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

Analyst Ratings Changes

ROKU has been the subject of a number of research analyst reports. Bank of America lifted their target price on Roku from $75.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Piper Sandler lifted their price objective on Roku from $60.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Baird R W raised Roku from a “hold” rating to a “strong-buy” rating in a report on Monday, November 18th. Wolfe Research raised Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 price objective for the company in a report on Thursday, September 12th. Finally, Citigroup lifted their price objective on Roku from $60.00 to $77.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $82.62.

Insiders Place Their Bets

In related news, CFO Dan Jedda sold 1,000 shares of Roku stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $75.33, for a total transaction of $75,330.00. Following the completion of the transaction, the chief financial officer now directly owns 54,267 shares of the company’s stock, valued at approximately $4,087,933.11. The trade was a 1.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Matthew C. Banks sold 8,693 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $71.44, for a total value of $621,027.92. Following the transaction, the chief accounting officer now directly owns 7,264 shares in the company, valued at approximately $518,940.16. This represents a 54.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 88,550 shares of company stock valued at $6,621,873 over the last ninety days. 13.98% of the stock is owned by insiders.

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.