Rhumbline Advisers Has $9.90 Million Stock Holdings in Roku, Inc. (NASDAQ:ROKU)

Rhumbline Advisers lessened its holdings in shares of Roku, Inc. (NASDAQ:ROKU) by 0.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 140,588 shares of the company’s stock after selling 760 shares during the period. Rhumbline Advisers owned approximately 0.10% of Roku worth $9,903,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. abrdn plc raised its stake in Roku by 12.0% during the 4th quarter. abrdn plc now owns 3,881 shares of the company’s stock valued at $289,000 after purchasing an additional 417 shares during the last quarter. Apollon Wealth Management LLC raised its stake in Roku by 11.7% during the 4th quarter. Apollon Wealth Management LLC now owns 6,355 shares of the company’s stock valued at $472,000 after purchasing an additional 665 shares during the last quarter. Entropy Technologies LP raised its position in shares of Roku by 264.4% during the fourth quarter. Entropy Technologies LP now owns 25,525 shares of the company’s stock valued at $1,898,000 after buying an additional 18,520 shares during the last quarter. Summit Trail Advisors LLC raised its position in shares of Roku by 57.7% during the fourth quarter. Summit Trail Advisors LLC now owns 7,509 shares of the company’s stock valued at $558,000 after buying an additional 2,748 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Roku by 53.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,393 shares of the company’s stock valued at $253,000 after buying an additional 1,186 shares during the last quarter. 86.30% of the stock is currently owned by institutional investors and hedge funds.

Roku Price Performance

ROKU stock opened at $79.59 on Tuesday. The business has a fifty day moving average price of $65.78 and a 200 day moving average price of $74.59. Roku, Inc. has a fifty-two week low of $48.33 and a fifty-two week high of $104.96. The stock has a market capitalization of $11.62 billion, a price-to-earnings ratio of -89.43 and a beta of 2.09.

Roku (NASDAQ:ROKU) last announced its earnings results on Thursday, May 1st. The company reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.08. Roku had a negative return on equity of 5.34% and a negative net margin of 3.15%. The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the company posted ($0.35) earnings per share. The firm’s quarterly revenue was up 15.8% compared to the same quarter last year. On average, equities analysts expect that Roku, Inc. will post -0.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Compass Point assumed coverage on Roku in a report on Sunday, March 23rd. They issued a “buy” rating for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $88.50 target price on shares of Roku in a research report on Monday, May 12th. Redburn Atlantic raised Roku from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a research report on Monday, April 7th. UBS Group reduced their target price on Roku from $90.00 to $72.00 and set a “neutral” rating for the company in a research report on Tuesday, April 15th. Finally, Evercore ISI dropped their price objective on shares of Roku from $105.00 to $80.00 and set an “in-line” rating for the company in a research note on Friday, May 2nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $88.37.

Insider Activity at Roku

In related news, CEO Anthony J. Wood sold 4,600 shares of the firm’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $75.00, for a total value of $345,000.00. Following the completion of the sale, the chief executive officer now owns 6,243 shares of the company’s stock, valued at $468,225. This trade represents a 42.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Charles Collier sold 7,181 shares of Roku stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $75.00, for a total value of $538,575.00. Following the completion of the sale, the insider now directly owns 10,970 shares of the company’s stock, valued at $822,750. This trade represents a 39.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 39,737 shares of company stock valued at $2,980,364 over the last quarter. Corporate insiders own 13.98% of the company’s stock.

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.