Mirabella Financial Services LLP Makes New $2.10 Million Investment in Roku, Inc. (NASDAQ:ROKU)

Mirabella Financial Services LLP purchased a new position in shares of Roku, Inc. (NASDAQ:ROKU) during the third quarter, HoldingsChannel.com reports. The institutional investor purchased 28,298 shares of the company’s stock, valued at approximately $2,104,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC grew its holdings in shares of 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 buying an additional 375 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new stake in Roku in the third quarter valued at about $43,000. GS Investments Inc. lifted its position in Roku by 33.4% in the third quarter. GS Investments Inc. now owns 587 shares of the company’s stock valued at $44,000 after purchasing an additional 147 shares during the period. Cedar Wealth Management LLC acquired a new stake in Roku in the second quarter valued at about $48,000. Finally, Natixis acquired a new stake in Roku in the first quarter valued at about $53,000. Hedge funds and other institutional investors own 86.30% of the company’s stock.

Insider Buying and Selling

In other Roku news, CAO Matthew C. Banks sold 8,693 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $71.44, for a total value of $621,027.92. Following the sale, the chief accounting officer now owns 7,264 shares in the company, valued at approximately $518,940.16. This trade represents a 54.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 $376,500. The trade was a 83.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 90,240 shares of company stock worth $6,729,582 over the last quarter. 13.98% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Piper Sandler raised their price objective on shares of Roku from $60.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Loop Capital raised their price objective on shares of Roku from $65.00 to $70.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. Benchmark restated a “buy” rating and issued a $105.00 price objective on shares of Roku in a research report on Thursday, September 12th. Baird R W upgraded shares of Roku from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 18th. Finally, Wedbush raised their price objective on shares of Roku from $75.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Roku currently has an average rating of “Moderate Buy” and a consensus price target of $84.14.

Roku Stock Performance

Shares of ROKU stock opened at $70.38 on Monday. The stock has a market capitalization of $10.22 billion, a price-to-earnings ratio of -57.67 and a beta of 2.07. Roku, Inc. has a one year low of $48.33 and a one year high of $108.84. The company’s 50-day simple moving average is $74.45 and its 200-day simple moving average is $65.13.

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

Roku 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.