Steward Partners Investment Advisory LLC Lowers Stock Position in Roku, Inc. (NASDAQ:ROKU)

Steward Partners Investment Advisory LLC lessened its stake in shares of Roku, Inc. (NASDAQ:ROKUGet Rating) by 35.5% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 2,547 shares of the company’s stock after selling 1,404 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Roku were worth $319,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Nikko Asset Management Americas Inc. lifted its position in shares of Roku by 45.9% during the fourth quarter. Nikko Asset Management Americas Inc. now owns 3,595,840 shares of the company’s stock worth $815,968,000 after purchasing an additional 1,131,757 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Roku by 40.2% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,914,587 shares of the company’s stock worth $893,309,000 after purchasing an additional 1,122,139 shares in the last quarter. Norges Bank acquired a new stake in shares of Roku during the fourth quarter worth about $200,467,000. Cibc World Markets Corp acquired a new stake in shares of Roku during the fourth quarter worth about $148,330,000. Finally, Atreides Management LP lifted its position in shares of Roku by 773.8% during the fourth quarter. Atreides Management LP now owns 539,765 shares of the company’s stock worth $123,174,000 after purchasing an additional 477,996 shares in the last quarter. Hedge funds and other institutional investors own 68.77% of the company’s stock.

Wall Street Analysts Forecast Growth

ROKU has been the topic of several research reports. Wolfe Research cut shares of Roku from a “market perform” rating to an “underperform” rating and set a $77.00 price target on the stock. in a research report on Tuesday. TheStreet cut shares of Roku from a “c-” rating to a “d+” rating in a research report on Monday, June 13th. Benchmark reaffirmed a “maintains” rating on shares of Roku in a report on Friday. Morgan Stanley reduced their target price on shares of Roku from $105.00 to $80.00 and set an “underweight” rating on the stock in a report on Monday, July 18th. Finally, DA Davidson reduced their target price on shares of Roku from $170.00 to $130.00 in a report on Friday. Five equities research analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Roku has an average rating of “Hold” and a consensus price target of $137.88.

Roku Price Performance

NASDAQ:ROKU opened at $65.52 on Friday. The firm has a market cap of $8.91 billion, a price-to-earnings ratio of 66.86 and a beta of 1.95. Roku, Inc. has a 1-year low of $62.00 and a 1-year high of $449.98. The firm’s fifty day moving average price is $87.95 and its 200 day moving average price is $112.74.

Roku (NASDAQ:ROKUGet Rating) last issued its earnings results on Thursday, July 28th. The company reported ($0.82) EPS for the quarter, missing the consensus estimate of ($0.76) by ($0.06). The company had revenue of $764.00 million for the quarter, compared to analysts’ expectations of $804.64 million. Roku had a return on equity of 5.17% and a net margin of 4.78%. Roku’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.52 earnings per share. As a group, analysts expect that Roku, Inc. will post -1.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Roku news, SVP Stephen H. Kay sold 668 shares of the business’s stock in a transaction on Thursday, June 2nd. The shares were sold at an average price of $93.41, for a total transaction of $62,397.88. Following the sale, the senior vice president now directly owns 78,549 shares in the company, valued at approximately $7,337,262.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Roku news, SVP Stephen H. Kay sold 668 shares of the business’s stock in a transaction on Thursday, June 2nd. The shares were sold at an average price of $93.41, for a total transaction of $62,397.88. Following the sale, the senior vice president now directly owns 78,549 shares in the company, valued at approximately $7,337,262.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Scott A. Rosenberg sold 1,957 shares of the business’s stock in a transaction on Thursday, June 2nd. The stock was sold at an average price of $93.41, for a total transaction of $182,803.37. Following the sale, the vice president now owns 78,676 shares in the company, valued at $7,349,125.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,598 shares of company stock worth $742,501. Corporate insiders own 15.32% of the company’s stock.

Roku Company Profile

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Roku, Inc, together with its subsidiaries, operates a TV streaming platform. The company operates in two segments, Platform and Player. Its platform allows users to discover and access various movies and TV episodes, as well as live TV, news sports, shows, and others. As of December 31, 2021, the company had 60.1 million active accounts.

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Institutional Ownership by Quarter for Roku (NASDAQ:ROKU)

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