Cathie Wood’s Ark Investment snapped up around $12 million worth of Roku stock April 27. The purchase, according to an Ark daily trade notification, was divided across three of Ark’s investment funds: the Ark Innovation ETF bought 187,118 shares; the Ark Next Generation Internet ETF added 23,537 shares; and the Ark Fintech Innovation ETF acquired just under 5,000 shares.
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Roku (ROKU) stock closed at $57 per share on April 27.
Wood’s latest investment into the streamer came a day after Roku beat analyst estimates in its first-quarter earnings for 2023. Roku reported net revenue of $741 million for the quarter, up only 1% year-over-ear, but significantly higher than the $708.1 million analysts polled by FactSet anticipated.
The TV streaming hub reported a profit of $388 million for the quarter, down 7% year-over-year. It also experienced a net increase of 1.6 million active accounts from last quarter, bringing Roku’s total number of active accounts up to 71.6 million.
Roku said that its operating system was the top-selling smart TV operating system in the US, with a 43% TV unit share; it also reported 25 billion worth of streaming hours on its systems, an increase of around 4 billion from last year’s numbers.
