Highland Capital Management 13F: Cuts ROKU Stake by $4M

Highland Capital Management cut its position in Roku, Inc. by 26,265 shares, reducing its total holdings to 45,411 shares valued at about $6.9 million. This change was disclosed in a filing on October 26, 2026, with the SEC.

This reduction represents a 36.6% decrease in Highland's stake. The firm's total reported value is about $833 million, with Roku accounting for 0.83% of its portfolio, ranking 15th among its 415 reported positions.

ROKU Roku, Inc.

$157.23 ▲ +44.62% year to date

1M 3M YTD

Daily close · Oct 26, 2026

Other Institutional Activity in Roku

Pentwater Capital Management LP increased its holdings in Roku by 2,162,500 shares, bringing its total to 4,325,000 shares valued at approximately $680 million. Balyasny Asset Management LP also raised its stake by 2,919,201 shares, now holding 3,147,789 shares worth about $495 million. Meanwhile, Schroder Investment Management Group trimmed its position by 235,650 shares, leaving it with 2,072,383 shares valued at around $326 million.

Roku, Inc. Stock Down 0.9%

Roku shares recently traded around $157.22, which is about equal to the closing price of $157.23 on October 26, 2026. The stock is currently above its 50-day moving average by 1.3% and well above its 52-week low of $78.53, but it remains below its 52-week high of $160.22.

Recent Earnings

Roku reported trailing twelve-month revenue of about $5.21 billion, with a net margin of 6.8% and a return on equity of 13.1%. The company is set to announce its next earnings report on November 2, 2026.

Insider Buying and Selling at Roku, Inc.

Several insiders sold shares recently. Neil D. Hunt, a Director, sold 2,000 shares on October 1, 2026, valued at approximately $302,186. Matthew C. Banks, an Officer, sold 554 shares for about $84,324 on the same day. On October 5, 2026, Officer Charles Collier sold 20,538 shares valued at about $3.11 million. Additionally, Chief Operating Officer Daniel Jedda sold 7,000 shares on October 15, 2026, for around $1.07 million.

Analysts Set New Price Targets

On August 7, 2026, UBS maintained a "Neutral" rating on Roku with a price target of $172. Guggenheim also downgraded its rating to "Neutral" with a target of $160. The consensus recommendation among analysts is to hold, with a mean price target of $162.33 based on 20 analyst opinions.

About Roku, Inc.

Roku, Inc. operates a streaming platform that allows users to access a variety of content, including TV shows and movies. It also sells streaming devices, TVs, and smart home products. This position change reflects Highland's ongoing strategy in managing its investments in the entertainment sector.

Bottom Line

Investors will be watching for Roku's upcoming earnings report on November 2, 2026, to gauge its financial performance. Highland Capital Management's recent cuts in its Roku stake may indicate a shift in its investment strategy, and further filings could provide additional insights into its portfolio adjustments.