Fortis Group Advisors LLC Purchases 6,115 Shares of Roku, Inc. (NASDAQ:ROKU)

Fortis Group Advisors LLC boosted its position in Roku, Inc. (NASDAQ:ROKU) by 84.8% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 13,324 shares of the company’s stock after acquiring an additional 6,115 shares during the period. Fortis Group Advisors LLC’s holdings in Roku were worth $799,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC bought a new stake in shares of Roku during the second quarter valued at about $80,000. Panagora Asset Management Inc. increased its position in shares of Roku by 25.5% during the second quarter. Panagora Asset Management Inc. now owns 14,456 shares of the company’s stock valued at $866,000 after buying an additional 2,940 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new stake in shares of Roku during the second quarter valued at about $575,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Roku during the second quarter valued at about $81,000. Finally, ARK Investment Management LLC increased its position in shares of Roku by 1.3% during the second quarter. ARK Investment Management LLC now owns 12,716,432 shares of the company’s stock valued at $762,096,000 after buying an additional 159,785 shares during the period. 86.30% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ROKU has been the topic of several analyst reports. Rosenblatt Securities decreased their price target on Roku from $89.00 to $61.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Wedbush reissued an “outperform” rating and set a $75.00 price objective on shares of Roku in a report on Friday, August 2nd. Needham & Company LLC reissued a “buy” rating and set a $100.00 price objective on shares of Roku in a report on Thursday, June 20th. JPMorgan Chase & Co. cut their price objective on Roku from $90.00 to $80.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Finally, Macquarie cut their price objective on Roku from $88.00 to $72.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Roku has a consensus rating of “Hold” and an average price target of $79.50.

Roku Price Performance

Shares of Roku stock traded down $0.67 during trading on Friday, hitting $67.77. 6,091,010 shares of the company’s stock traded hands, compared to its average volume of 4,659,347. Roku, Inc. has a 1 year low of $48.33 and a 1 year high of $108.84. The stock has a market capitalization of $9.77 billion, a P/E ratio of -16.98 and a beta of 1.96. The business has a 50-day simple moving average of $60.24 and a 200-day simple moving average of $61.18.

Roku (NASDAQ:ROKU) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.21. Roku had a negative return on equity of 21.03% and a negative net margin of 13.16%. The company had revenue of $968.18 million for the quarter, compared to analysts’ expectations of $937.78 million. During the same period last year, the firm posted ($0.76) earnings per share. Roku’s revenue was up 14.3% compared to the same quarter last year. On average, equities analysts predict that Roku, Inc. will post -1.45 earnings per share for the current fiscal year.

Insider Activity at Roku

In related news, SVP Stephen H. Kay sold 12,124 shares of the stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $55.59, for a total transaction of $673,973.16. Following the sale, the senior vice president now directly owns 91,905 shares of the company’s stock, valued at $5,108,998.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Roku news, SVP Stephen H. Kay sold 12,124 shares of the firm’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $55.59, for a total value of $673,973.16. Following the transaction, the senior vice president now directly owns 91,905 shares of the company’s stock, valued at $5,108,998.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Stephen H. Kay sold 3,322 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $57.09, for a total value of $189,652.98. Following the completion of the transaction, the senior vice president now directly owns 82,036 shares in the company, valued at $4,683,435.24. The disclosure for this sale can be found here. Insiders have sold 27,075 shares of company stock valued at $1,556,005 over the last ninety days. Insiders own 13.98% of the company’s stock.

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.