Roku, Inc. (NASDAQ:ROKU) Shares Purchased by Covington Capital Management

Covington Capital Management boosted its stake in Roku, Inc. (NASDAQ:ROKUGet Rating) by 448.1% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 581 shares of the company’s stock after acquiring an additional 475 shares during the quarter. Covington Capital Management’s holdings in Roku were worth $48,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Credit Agricole S A grew its stake in Roku by 60.0% in the 4th quarter. Credit Agricole S A now owns 168 shares of the company’s stock valued at $38,000 after acquiring an additional 63 shares during the period. Lindbrook Capital LLC grew its stake in Roku by 156.5% in the 1st quarter. Lindbrook Capital LLC now owns 218 shares of the company’s stock valued at $27,000 after acquiring an additional 133 shares during the period. Zullo Investment Group Inc. grew its stake in Roku by 150.0% in the 1st quarter. Zullo Investment Group Inc. now owns 250 shares of the company’s stock valued at $31,000 after acquiring an additional 150 shares during the period. Clearstead Advisors LLC lifted its holdings in Roku by 29.1% in the 4th quarter. Clearstead Advisors LLC now owns 288 shares of the company’s stock valued at $66,000 after purchasing an additional 65 shares in the last quarter. Finally, Tyler Stone Wealth Management purchased a new position in Roku in the 4th quarter valued at $68,000. Institutional investors and hedge funds own 66.86% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on ROKU. Citigroup decreased their price objective on Roku from $165.00 to $125.00 and set a “buy” rating on the stock in a report on Wednesday, August 3rd. Raymond James began coverage on Roku in a report on Tuesday, July 26th. They issued a “market perform” rating on the stock. KeyCorp decreased their price objective on Roku from $105.00 to $80.00 and set an “overweight” rating on the stock in a report on Friday, July 29th. Susquehanna Bancshares lowered Roku to a “neutral” rating and decreased their price objective for the company from $200.00 to $70.00 in a report on Friday, July 29th. Finally, DA Davidson reduced their price target on Roku from $170.00 to $130.00 in a report on Friday, July 29th. Six analysts have rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $138.54.

Roku Price Performance

NASDAQ ROKU opened at $73.02 on Tuesday. The company has a market cap of $10.07 billion, a P/E ratio of -202.83 and a beta of 1.70. The stock has a 50-day moving average of $77.06 and a two-hundred day moving average of $92.69. Roku, Inc. has a 1-year low of $62.00 and a 1-year high of $350.60.

Roku (NASDAQ:ROKUGet Rating) last released its earnings results on Thursday, July 28th. The company reported ($0.82) earnings per share for the quarter, missing the consensus estimate of ($0.78) by ($0.04). Roku had a negative net margin of 1.51% and a negative return on equity of 1.66%. The firm had revenue of $764.00 million during the quarter, compared to analyst estimates of $804.64 million. During the same period in the prior year, the firm earned $0.52 earnings per share. The business’s revenue was up 18.4% compared to the same quarter last year. On average, analysts anticipate that Roku, Inc. will post -3.56 EPS for the current fiscal year.

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.

See Also

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Institutional Ownership by Quarter for Roku (NASDAQ:ROKU)

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