Bank of New York Mellon Corp Has $35.99 Million Stock Position in Roku, Inc. (NASDAQ:ROKU)

Bank of New York Mellon Corp grew its holdings in shares of Roku, Inc. (NASDAQ:ROKU) by 0.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 510,934 shares of the company’s stock after buying an additional 4,617 shares during the quarter. Bank of New York Mellon Corp owned 0.35% of Roku worth $35,990,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. FMR LLC boosted its holdings in Roku by 31.7% during the fourth quarter. FMR LLC now owns 19,183,942 shares of the company’s stock worth $1,426,134,000 after purchasing an additional 4,613,570 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Roku by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 12,249,091 shares of the company’s stock worth $910,597,000 after purchasing an additional 185,676 shares during the last quarter. Marshall Wace LLP boosted its holdings in Roku by 663.9% during the fourth quarter. Marshall Wace LLP now owns 2,335,813 shares of the company’s stock worth $173,644,000 after purchasing an additional 2,030,036 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in Roku by 10.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,269,751 shares of the company’s stock worth $168,734,000 after purchasing an additional 215,841 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Roku by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 2,147,259 shares of the company’s stock worth $159,353,000 after purchasing an additional 56,820 shares during the last quarter. 86.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Mai Fyfield sold 914 shares of Roku stock in a transaction on Friday, June 6th. The shares were sold at an average price of $78.50, for a total transaction of $71,749.00. Following the completion of the sale, the director directly owned 4,374 shares of the company’s stock, valued at approximately $343,359. The trade was a 17.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Matthew C. Banks sold 629 shares of Roku stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $72.98, for a total transaction of $45,904.42. Following the sale, the chief accounting officer directly owned 8,555 shares of the company’s stock, valued at $624,343.90. This represents a 6.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 90,520 shares of company stock worth $7,357,094. Company insiders own 13.98% of the company’s stock.

Roku Price Performance

Shares of NASDAQ:ROKU opened at $89.82 on Tuesday. The firm has a fifty day moving average price of $76.79 and a two-hundred day moving average price of $75.60. The company has a market cap of $13.11 billion, a price-to-earnings ratio of -123.04 and a beta of 2.12. Roku, Inc. has a one year low of $48.33 and a one year high of $104.96.

Roku (NASDAQ:ROKU) last released its quarterly earnings results on Thursday, May 1st. The company reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.08. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. Roku had a negative net margin of 2.49% and a negative return on equity of 4.29%. The business’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same period in the previous year, the business earned ($0.35) EPS. Equities research analysts expect that Roku, Inc. will post -0.3 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on ROKU. Rosenblatt Securities cut their price target on shares of Roku from $100.00 to $75.00 and set a “neutral” rating on the stock in a report on Friday, May 2nd. Guggenheim restated a “buy” rating and set a $100.00 price target on shares of Roku in a report on Friday, May 2nd. Redburn Atlantic upgraded shares of Roku from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a research note on Monday, April 7th. Bank of America increased their target price on shares of Roku from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, July 3rd. Finally, Loop Capital raised shares of Roku from a “hold” rating to a “buy” rating and increased their target price for the company from $80.00 to $100.00 in a research report on Tuesday, June 17th. One analyst has rated the stock with a sell rating, seven have given a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $92.67.

About Roku

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.