Marathon Capital Management Makes New Investment in Roku Inc (NASDAQ:ROKU)

Marathon Capital Management purchased a new position in shares of Roku Inc (NASDAQ:ROKU) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 14,420 shares of the company’s stock, valued at approximately $1,306,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. FMR LLC lifted its holdings in Roku by 12.1% during the 1st quarter. FMR LLC now owns 7,108,246 shares of the company’s stock worth $458,553,000 after buying an additional 767,418 shares during the last quarter. Baillie Gifford & Co. purchased a new stake in Roku during the 1st quarter worth about $117,951,000. Spark Investment Management LLC lifted its holdings in Roku by 12.6% during the 1st quarter. Spark Investment Management LLC now owns 716,200 shares of the company’s stock worth $46,202,000 after buying an additional 80,200 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD purchased a new stake in Roku during the 1st quarter worth about $40,282,000. Finally, OppenheimerFunds Inc. lifted its holdings in Roku by 2.2% during the 1st quarter. OppenheimerFunds Inc. now owns 559,680 shares of the company’s stock worth $36,105,000 after buying an additional 12,200 shares during the last quarter. 50.27% of the stock is owned by institutional investors.

ROKU stock traded down $2.22 during trading on Monday, hitting $98.31. The company had a trading volume of 41,052 shares, compared to its average volume of 8,760,258. The stock has a market cap of $11.40 billion, a price-to-earnings ratio of -1,221.88 and a beta of 2.04. Roku Inc has a 1-year low of $26.30 and a 1-year high of $113.44. The company has a 50-day simple moving average of $102.08.

Roku (NASDAQ:ROKU) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.24) by $0.15. The firm had revenue of $206.70 million for the quarter, compared to analysts’ expectations of $189.80 million. Roku had a negative return on equity of 4.60% and a negative net margin of 1.47%. The firm’s revenue for the quarter was up 51.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.07) EPS. Analysts forecast that Roku Inc will post -0.57 earnings per share for the current fiscal year.

In related news, Director Jeff Hastings sold 15,000 shares of the business’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $78.67, for a total value of $1,180,050.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Stephen H. Kay sold 32,000 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $81.77, for a total value of $2,616,640.00. The disclosure for this sale can be found here. Insiders sold a total of 676,733 shares of company stock worth $67,106,092 in the last 90 days. 22.70% of the stock is currently owned by insiders.

A number of analysts have recently commented on ROKU shares. Royal Bank of Canada cut Roku from an “outperform” rating to a “sector perform” rating and set a $90.00 target price on the stock. in a research report on Monday, July 1st. They noted that the move was a valuation call. Zacks Investment Research upgraded Roku from a “hold” rating to a “strong-buy” rating and set a $91.00 target price on the stock in a research report on Wednesday, May 15th. Needham & Company LLC reiterated a “buy” rating and set a $120.00 target price (up previously from $85.00) on shares of Roku in a research report on Wednesday, May 29th. Stephens cut Roku from an “overweight” rating to an “equal weight” rating and set a $95.12 target price on the stock. in a research report on Tuesday, May 28th. Finally, DA Davidson lifted their target price on Roku from $92.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Roku has an average rating of “Hold” and a consensus target price of $82.87.

Roku Company Profile

Roku, Inc operates a TV streaming platform. The company operates in two segments, Platform and Player. Its platform allows users to discover and access various movies and TV episodes, as well as live sports, music, news, and others. As of December 31, 2018, the company had 27.1 million active accounts.

Read More: Dividend Achievers

Institutional Ownership by Quarter for Roku (NASDAQ:ROKU)

Receive News & Ratings for Roku Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Roku and related companies with MarketBeat.com's FREE daily email newsletter.