Richard W. Paul & Associates LLC Raises Holdings in Roku, Inc. (NASDAQ:ROKU)

Richard W. Paul & Associates LLC raised its position in Roku, Inc. (NASDAQ:ROKU) by 27.3% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 15,820 shares of the company’s stock after purchasing an additional 3,395 shares during the period. Richard W. Paul & Associates LLC’s holdings in Roku were worth $1,181,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Roku by 24.7% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,349,067 shares of the company’s stock worth $478,939,000 after buying an additional 1,457,925 shares in the last quarter. Nikko Asset Management Americas Inc. boosted its holdings in shares of Roku by 25.8% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 7,091,891 shares of the company’s stock worth $462,108,000 after purchasing an additional 1,455,408 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Roku by 3.3% in the fourth quarter. Vanguard Group Inc. now owns 11,853,947 shares of the company’s stock valued at $1,086,533,000 after purchasing an additional 380,409 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of Roku by 138.1% in the first quarter. Canada Pension Plan Investment Board now owns 342,400 shares of the company’s stock valued at $22,314,000 after purchasing an additional 198,600 shares during the last quarter. Finally, AQR Capital Management LLC lifted its position in Roku by 645.3% during the second quarter. AQR Capital Management LLC now owns 221,557 shares of the company’s stock worth $13,278,000 after buying an additional 191,831 shares in the last quarter. Institutional investors and hedge funds own 86.30% of the company’s stock.

Insider Buying and Selling

In other Roku news, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $77.20, for a total value of $1,930,000.00. Following the sale, the chief executive officer now owns 5,020 shares of the company’s stock, valued at $387,544. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Gilbert Fuchsberg sold 1,693 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $64.39, for a total transaction of $109,012.27. Following the completion of the transaction, the insider now owns 38,602 shares in the company, valued at approximately $2,485,582.78. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $77.20, for a total value of $1,930,000.00. Following the completion of the sale, the chief executive officer now owns 5,020 shares in the company, valued at approximately $387,544. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 69,566 shares of company stock valued at $5,254,000 in the last three months. 13.98% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ROKU has been the subject of several analyst reports. Macquarie upped their target price on Roku from $72.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. Guggenheim raised shares of Roku from a “neutral” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Friday, August 23rd. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 target price on shares of Roku in a research note on Friday, September 13th. Moffett Nathanson raised shares of Roku from a “sell” rating to a “neutral” rating and set a $80.00 price target for the company in a research note on Tuesday, October 1st. Finally, Wells Fargo & Company upgraded shares of Roku from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $50.00 to $72.00 in a report on Thursday, September 5th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $81.24.

Roku Stock Performance

NASDAQ ROKU opened at $80.07 on Friday. The firm has a market cap of $11.59 billion, a price-to-earnings ratio of -23.07 and a beta of 2.08. The firm has a 50 day simple moving average of $70.53 and a 200-day simple moving average of $62.83. Roku, Inc. has a one year low of $48.33 and a one year high of $108.84.

Roku (NASDAQ:ROKU) last released its earnings results on Thursday, August 1st. The company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.21. The company had revenue of $968.18 million for the quarter, compared to analyst estimates of $937.78 million. Roku had a negative net margin of 13.16% and a negative return on equity of 21.03%. The firm’s quarterly revenue was up 14.3% on a year-over-year basis. During the same period in the prior year, the business earned ($0.76) EPS. Equities analysts predict that Roku, Inc. will post -1.44 EPS for the current fiscal year.

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.