Ogborne Capital Management LLC Boosts Stake in Roku, Inc. (NASDAQ:ROKU)

Ogborne Capital Management LLC raised its position in Roku, Inc. (NASDAQ:ROKU) by 97.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 142,500 shares of the company’s stock after buying an additional 70,322 shares during the period. Roku accounts for 4.0% of Ogborne Capital Management LLC’s investment portfolio, making the stock its 11th biggest holding. Ogborne Capital Management LLC owned 0.10% of Roku worth $13,062,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of ROKU. Firsthand Capital Management Inc. grew its stake in Roku by 90.0% in the 4th quarter. Firsthand Capital Management Inc. now owns 190,000 shares of the company’s stock valued at $17,415,000 after buying an additional 90,000 shares in the last quarter. Berkshire Capital Holdings Inc. boosted its holdings in Roku by 870,600.0% in the 4th quarter. Berkshire Capital Holdings Inc. now owns 87,070 shares of the company’s stock valued at $7,981,000 after purchasing an additional 87,060 shares during the period. Bayesian Capital Management LP bought a new position in Roku in the 4th quarter valued at $4,803,000. Empirical Capital Management LLC bought a new position in Roku in the 4th quarter valued at $14,626,000. Finally, Point72 Hong Kong Ltd bought a new position in Roku in the 4th quarter valued at $6,550,000. Hedge funds and other institutional investors own 86.30% of the company’s stock.

Insider Buying and Selling at Roku

In other Roku news, SVP Stephen H. Kay sold 3,322 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $57.09, for a total value of $189,652.98. Following the transaction, the senior vice president now owns 82,036 shares in the company, valued at $4,683,435.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Mai Fyfield sold 650 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $57.88, for a total transaction of $37,622.00. Following the transaction, the director now owns 3,259 shares in the company, valued at $188,630.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Stephen H. Kay sold 3,322 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $57.09, for a total transaction of $189,652.98. Following the transaction, the senior vice president now owns 82,036 shares in the company, valued at approximately $4,683,435.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,774 shares of company stock worth $673,993. 13.98% of the stock is currently owned by company insiders.

Roku Stock Performance

ROKU stock opened at $54.51 on Friday. The firm’s 50-day moving average price is $58.83 and its two-hundred day moving average price is $74.17. Roku, Inc. has a 12-month low of $53.20 and a 12-month high of $108.84.

Roku (NASDAQ:ROKU) last released its quarterly earnings data on Thursday, April 25th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.64) by $0.29. Roku had a negative net margin of 15.64% and a negative return on equity of 23.81%. The firm had revenue of $881.50 million for the quarter, compared to analysts’ expectations of $843.54 million. During the same quarter in the previous year, the company earned ($1.38) earnings per share. The company’s revenue for the quarter was up 19.0% compared to the same quarter last year. Equities research analysts anticipate that Roku, Inc. will post -1.94 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ROKU has been the subject of several analyst reports. Jefferies Financial Group initiated coverage on shares of Roku in a report on Thursday, May 2nd. They issued an “underperform” rating and a $50.00 price target for the company. Piper Sandler reissued a “neutral” rating and issued a $65.00 price target (down from $81.00) on shares of Roku in a report on Friday, April 26th. Benchmark dropped their price objective on shares of Roku from $115.00 to $105.00 and set a “buy” rating for the company in a report on Friday, April 26th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $89.00 price objective on shares of Roku in a report on Friday, April 26th. Finally, Stephens reaffirmed an “overweight” rating and set a $105.00 price objective on shares of Roku in a report on Friday, February 16th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $82.50.

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.