Firsthand Capital Management Inc. Has $5.60 Million Holdings in Roku, Inc. (NASDAQ:ROKU)

Firsthand Capital Management Inc. lifted its stake in Roku, Inc. (NASDAQ:ROKU) by 21,328.6% during the 3rd quarter, Holdings Channel reports. The firm owned 75,000 shares of the company’s stock after acquiring an additional 74,650 shares during the period. Roku makes up 11.0% of Firsthand Capital Management Inc.’s holdings, making the stock its biggest holding. Firsthand Capital Management Inc.’s holdings in Roku were worth $5,600,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in ROKU. Future Financial Wealth Managment LLC acquired a new stake in Roku in the third quarter worth $43,000. GS Investments Inc. increased its position in shares of Roku by 33.4% in the 3rd quarter. GS Investments Inc. now owns 587 shares of the company’s stock valued at $44,000 after buying an additional 147 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Roku by 123.4% during the second quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company’s stock worth $40,000 after acquiring an additional 375 shares in the last quarter. Cedar Wealth Management LLC acquired a new position in Roku in the second quarter valued at about $48,000. Finally, Versant Capital Management Inc increased its holdings in shares of Roku by 706.2% in the second quarter. Versant Capital Management Inc now owns 911 shares of the company’s stock worth $55,000 after acquiring an additional 798 shares in the last quarter. 86.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Morgan Stanley lifted their price objective on Roku from $60.00 to $65.00 and gave the company an “underweight” rating in a report on Tuesday, October 29th. Piper Sandler lifted their price target on shares of Roku from $60.00 to $75.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Wells Fargo & Company increased their price objective on shares of Roku from $72.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Wedbush boosted their price objective on shares of Roku from $75.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Finally, Loop Capital increased their target price on Roku from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. Two equities research 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $82.62.

Roku Trading Up 1.9 %

Shares of ROKU stock opened at $69.03 on Friday. The stock has a market cap of $10.02 billion, a P/E ratio of -57.52 and a beta of 2.07. Roku, Inc. has a 1 year low of $48.33 and a 1 year high of $108.84. The stock has a 50 day simple moving average of $73.63 and a 200 day simple moving average of $65.34.

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

Insider Buying and Selling

In other Roku news, CAO Matthew C. Banks sold 8,693 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $71.44, for a total transaction of $621,027.92. Following the completion of the transaction, the chief accounting officer now owns 7,264 shares of the company’s stock, valued at approximately $518,940.16. The trade was a 54.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the completion of the sale, the chief executive officer now owns 5,020 shares in the company, valued at approximately $376,500. The trade was a 83.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 90,240 shares of company stock valued at $6,729,582 over the last quarter. 13.98% of the stock is owned by company insiders.

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.