Roku, Inc. (NASDAQ:ROKU) Shares Sold by SVB Wealth LLC

SVB Wealth LLC reduced its stake in shares of Roku, Inc. (NASDAQ:ROKU) by 11.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,897 shares of the company’s stock after selling 1,114 shares during the period. SVB Wealth LLC’s holdings in Roku were worth $580,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Roku by 24.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,349,067 shares of the company’s stock worth $478,939,000 after purchasing an additional 1,457,925 shares during the last quarter. Nikko Asset Management Americas Inc. raised its holdings in shares of Roku by 25.8% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 7,091,891 shares of the company’s stock valued at $462,108,000 after buying an additional 1,455,408 shares during the period. Norges Bank acquired a new position in Roku during the 4th quarter worth about $90,386,000. Quadrature Capital Ltd purchased a new position in Roku during the 4th quarter valued at about $35,856,000. Finally, Vanguard Group Inc. grew its position in Roku by 3.3% in the 4th quarter. Vanguard Group Inc. now owns 11,853,947 shares of the company’s stock valued at $1,086,533,000 after acquiring an additional 380,409 shares in the last quarter. 86.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ROKU has been the subject of several research reports. Benchmark restated a “buy” rating and issued a $105.00 price target on shares of Roku in a research note on Wednesday, July 10th. Wedbush reaffirmed an “outperform” rating and issued a $75.00 price target on shares of Roku in a research report on Thursday. Piper Sandler reissued a “neutral” rating and set a $65.00 price objective (down from $81.00) on shares of Roku in a research report on Friday, April 26th. Citigroup reduced their target price on shares of Roku from $75.00 to $70.00 and set a “neutral” rating on the stock in a report on Tuesday, April 30th. Finally, Morgan Stanley lowered their price target on shares of Roku from $65.00 to $60.00 and set an “underweight” rating for the company in a report on Friday, April 5th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $82.89.

Insider Buying and Selling

In other news, SVP Stephen H. Kay sold 12,124 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $55.59, for a total transaction of $673,973.16. Following the sale, the senior vice president now owns 91,905 shares of the company’s stock, valued at approximately $5,108,998.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Roku news, insider Charles Collier sold 3,590 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $65.00, for a total transaction of $233,350.00. Following the sale, the insider now owns 12,064 shares in the company, valued at approximately $784,160. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Stephen H. Kay sold 12,124 shares of the stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $55.59, for a total value of $673,973.16. Following the sale, the senior vice president now directly owns 91,905 shares in the company, valued at approximately $5,108,998.95. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,281 shares of company stock valued at $1,567,805. Corporate insiders own 13.98% of the company’s stock.

Roku Trading Down 0.2 %

Shares of NASDAQ:ROKU traded down $0.14 during midday trading on Monday, hitting $58.90. The stock had a trading volume of 2,440,603 shares, compared to its average volume of 4,769,868. Roku, Inc. has a 1 year low of $51.51 and a 1 year high of $108.84. The stock has a 50 day moving average price of $58.55 and a two-hundred day moving average price of $66.03. The company has a market capitalization of $8.49 billion, a PE ratio of -14.64 and a beta of 1.96.

Roku (NASDAQ:ROKU) last posted its quarterly earnings results on Thursday, April 25th. The company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.64) by $0.29. The business had revenue of $881.50 million during the quarter, compared to analysts’ expectations of $843.54 million. Roku had a negative return on equity of 23.81% and a negative net margin of 15.64%. The company’s quarterly revenue was up 19.0% compared to the same quarter last year. During the same period last year, the firm earned ($1.38) EPS. As a group, equities analysts expect that Roku, Inc. will post -1.94 EPS for the current year.

Roku Company Profile

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.