Roku has recently seen strong growth in its stock. On June 17, 2018, Roku’s stock sold for $44.93. One year later, it is over $90.58. (At the time of writing this story.) Roku’s recent success seems to have grabbed the attention of investors like PNC Financial Services Group Inc., Meridian Wealth Management LLC, and CWM LLC, who have all purchased shares of Roku over the last year.
Many of these investments have been small, but Meridian Wealth Management LLC spent a reported $573,000 on 8,879 Roku shares in the first quarter of 2019.
Put together Roku’s stock is 50.49% owned by institutional investors and hedge funds.
Roku recently announced its 1st quarter 2019 earnings and Roku’s ad/subscription revenue has continued to climb to a new record. Roku’s revenues from ads and subscriptions was $134.2 million, up 79% from $75.1 in the 1st quarter of 2018. Roku’s revenue from selling streaming devices was just $72.% million in the 1st quarter of 2019, which is up just 18% from $61.5 million in the 1st quarter of 2018. Overall, Roku’s revenues went up 51% over the same period in 2018.
From the looks of it, investors are happy with Roku’s current plans as revenue continues to go up.
Did you know we have a YouTube Channel? Every week we have a live Cord Cutting Q&A, and weekly Cord Cutting recap shows exclusively on our YouTube Channel!
Please follow us on Facebook and Twitter for more news, tips, and reviews. Need cord cutting tech support? Join our Cord Cutting Tech Support Facebook Group for help.