Bank of New York Mellon Corp Boosts Position in Roku, Inc. (NASDAQ:ROKU)

Bank of New York Mellon Corp grew its position in Roku, Inc. (NASDAQ:ROKU) by 5.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 500,794 shares of the company’s stock after buying an additional 24,926 shares during the quarter. Bank of New York Mellon Corp owned 0.35% of Roku worth $30,013,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC purchased a new stake in Roku in the 4th quarter valued at approximately $27,000. Quarry LP lifted its position in shares of Roku by 160.2% in the fourth quarter. Quarry LP now owns 432 shares of the company’s stock valued at $40,000 after acquiring an additional 266 shares in the last quarter. Benjamin Edwards Inc. boosted its stake in shares of Roku by 43.5% during the first quarter. Benjamin Edwards Inc. now owns 617 shares of the company’s stock valued at $40,000 after acquiring an additional 187 shares during the last quarter. Geneos Wealth Management Inc. increased its position in Roku by 835.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 683 shares of the company’s stock worth $45,000 after purchasing an additional 610 shares in the last quarter. Finally, Natixis acquired a new position in Roku in the 1st quarter valued at about $53,000. Institutional investors and hedge funds own 86.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. decreased their price target on shares of Roku from $90.00 to $80.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Wedbush reaffirmed an “outperform” rating and issued a $75.00 target price on shares of Roku in a research note on Friday, August 2nd. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price target on shares of Roku in a report on Thursday, June 20th. Macquarie decreased their price objective on Roku from $88.00 to $72.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Finally, Bank of America lowered their price objective on Roku from $85.00 to $75.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $79.50.

Roku Stock Down 3.8 %

Shares of Roku stock opened at $65.22 on Wednesday. The company has a fifty day moving average price of $60.72 and a 200 day moving average price of $60.53. Roku, Inc. has a twelve month low of $48.33 and a twelve month high of $108.84.

Roku (NASDAQ:ROKU) last issued its earnings results on Thursday, August 1st. The company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.21. The company had revenue of $968.18 million during the quarter, compared to the consensus estimate of $937.78 million. Roku had a negative return on equity of 21.03% and a negative net margin of 13.16%. The company’s revenue was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.76) earnings per share. Equities research analysts expect that Roku, Inc. will post -1.45 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Stephen H. Kay sold 12,124 shares of the company’s 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 completion of the transaction, the senior vice president now directly owns 91,905 shares in the company, valued at $5,108,998.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Roku news, Director Mai Fyfield sold 650 shares of Roku stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $57.88, for a total transaction of $37,622.00. Following the sale, the director now directly owns 3,259 shares in the company, valued at approximately $188,630.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Stephen H. Kay sold 12,124 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now owns 91,905 shares of the company’s stock, valued at $5,108,998.95. The disclosure for this sale can be found here. Insiders have sold 16,364 shares of company stock worth $944,945 over the last 90 days. Company insiders own 13.98% of the company’s stock.

Roku 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.