Sumitomo Mitsui Trust Holdings Inc. Grows Stock Position in Roku, Inc. (NASDAQ:ROKU)

Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Roku, Inc. (NASDAQ:ROKU) by 24.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,349,067 shares of the company’s stock after buying an additional 1,457,925 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned approximately 5.12% of Roku worth $478,939,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in Roku by 3.3% during the fourth quarter. Vanguard Group Inc. now owns 11,853,947 shares of the company’s stock worth $1,086,533,000 after purchasing an additional 380,409 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Roku by 34.6% during the 3rd quarter. Wellington Management Group LLP now owns 2,543,081 shares of the company’s stock valued at $179,516,000 after acquiring an additional 653,940 shares in the last quarter. Norges Bank acquired a new position in shares of Roku during the fourth quarter worth about $90,386,000. Charles Schwab Investment Management Inc. boosted its position in shares of Roku by 3.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 865,129 shares of the company’s stock worth $79,298,000 after buying an additional 28,930 shares during the period. Finally, Northern Trust Corp grew its stake in shares of Roku by 7.7% in the third quarter. Northern Trust Corp now owns 680,678 shares of the company’s stock valued at $48,049,000 after buying an additional 48,487 shares in the last quarter. Institutional investors and hedge funds own 86.30% of the company’s stock.

Roku Trading Up 1.6 %

ROKU traded up $0.99 during trading hours on Wednesday, hitting $62.35. The company’s stock had a trading volume of 348,333 shares, compared to its average volume of 4,937,161. The company has a 50-day simple moving average of $58.01 and a 200 day simple moving average of $69.82. The firm has a market capitalization of $8.99 billion, a PE ratio of -15.38 and a beta of 1.96. Roku, Inc. has a fifty-two week low of $51.51 and a fifty-two week high of $108.84.

Roku (NASDAQ:ROKU) last announced its earnings results on Thursday, April 25th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.64) by $0.29. Roku had a negative net margin of 15.64% and a negative return on equity of 23.81%. The firm had revenue of $881.50 million during the quarter, compared to analyst estimates of $843.54 million. During the same quarter in the prior year, the firm posted ($1.38) EPS. Roku’s revenue was up 19.0% compared to the same quarter last year. Research analysts expect that Roku, Inc. will post -1.94 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Stephen H. Kay sold 3,322 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $57.09, for a total value of $189,652.98. Following the completion of the sale, the senior vice president now owns 82,036 shares in the company, valued at $4,683,435.24. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, SVP Stephen H. Kay sold 3,322 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $57.09, for a total value of $189,652.98. Following the sale, the senior vice president now directly owns 82,036 shares in the company, valued at approximately $4,683,435.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Charles Collier sold 7,181 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $57.03, for a total transaction of $409,532.43. Following the sale, the insider now owns 15,654 shares of the company’s stock, valued at $892,747.62. The disclosure for this sale can be found here. Insiders sold 23,691 shares of company stock worth $1,334,455 over the last three months. Corporate insiders own 13.98% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Seaport Res Ptn upgraded shares of Roku from a “neutral” rating to a “buy” rating in a research note on Monday, April 29th. Morgan Stanley decreased their price objective on shares of Roku from $65.00 to $60.00 and set an “underweight” rating for the company in a research report on Friday, April 5th. Wells Fargo & Company boosted their price target on Roku from $45.00 to $52.00 and gave the stock an “underweight” rating in a research note on Friday, April 26th. Needham & Company LLC restated a “buy” rating and set a $100.00 price objective on shares of Roku in a research note on Thursday, June 20th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $75.00 target price on shares of Roku in a research report on Thursday, June 27th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Roku presently has an average rating of “Hold” and an average target price of $82.50.

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.