Pallas Capital Advisors LLC Makes New Investment in Roku, Inc. (NASDAQ:ROKU)

Pallas Capital Advisors LLC purchased a new position in shares of Roku, Inc. (NASDAQ:ROKU) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 3,418 shares of the company’s stock, valued at approximately $241,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Apollon Wealth Management LLC raised its holdings in Roku by 11.7% in the 4th quarter. Apollon Wealth Management LLC now owns 6,355 shares of the company’s stock valued at $472,000 after acquiring an additional 665 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Roku by 53.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,393 shares of the company’s stock valued at $253,000 after acquiring an additional 1,186 shares during the period. Van ECK Associates Corp bought a new position in Roku in the 4th quarter valued at about $675,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in Roku in the 4th quarter valued at about $233,000. Finally, Rhumbline Advisers raised its holdings in Roku by 2.8% in the 4th quarter. Rhumbline Advisers now owns 141,348 shares of the company’s stock valued at $10,508,000 after acquiring an additional 3,795 shares during the period. 86.30% of the stock is owned by institutional investors.

Roku Price Performance

ROKU stock opened at $74.41 on Friday. Roku, Inc. has a 1 year low of $48.33 and a 1 year high of $104.96. The firm has a 50-day moving average of $67.45 and a 200 day moving average of $74.78. The company has a market cap of $10.86 billion, a P/E ratio of -83.61 and a beta of 2.09.

Roku (NASDAQ:ROKU) last posted its quarterly earnings results on Thursday, May 1st. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.08. Roku had a negative return on equity of 5.34% and a negative net margin of 3.15%. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the prior year, the business posted ($0.35) EPS. The firm’s quarterly revenue was up 15.8% compared to the same quarter last year. On average, equities research analysts expect that Roku, Inc. will post -0.3 earnings per share for the current fiscal year.

Insider Transactions at Roku

In related news, CFO Dan Jedda sold 1,000 shares of the firm’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $75.00, for a total value of $75,000.00. Following the completion of the sale, the chief financial officer now directly owns 68,843 shares in the company, valued at $5,163,225. This trade represents a 1.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $75.00, for a total value of $1,875,000.00. Following the completion of the sale, the chief executive officer now owns 6,243 shares of the company’s stock, valued at approximately $468,225. This represents a 80.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 64,737 shares of company stock worth $4,987,114 in the last three months. Corporate insiders own 13.98% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $95.00 target price on shares of Roku in a report on Monday, June 2nd. Loop Capital lowered their target price on shares of Roku from $90.00 to $80.00 and set a “hold” rating on the stock in a report on Friday, May 2nd. Rosenblatt Securities lowered their target price on shares of Roku from $100.00 to $75.00 and set a “neutral” rating on the stock in a report on Friday, May 2nd. Wells Fargo & Company lowered their target price on shares of Roku from $129.00 to $93.00 and set an “overweight” rating on the stock in a report on Monday, April 28th. Finally, Moffett Nathanson raised shares of Roku from a “sell” rating to a “neutral” rating and set a $70.00 price objective on the stock in a research note on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Roku presently has an average rating of “Moderate Buy” and a consensus price target of $88.37.

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.