M&T Bank Corp Trims Stock Holdings in Roku, Inc. (NASDAQ:ROKU)

M&T Bank Corp lessened its stake in shares of Roku, Inc. (NASDAQ:ROKU) by 13.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,540 shares of the company’s stock after selling 987 shares during the quarter. M&T Bank Corp’s holdings in Roku were worth $460,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of ROKU. Farther Finance Advisors LLC raised its stake in Roku by 23.9% in the 4th quarter. Farther Finance Advisors LLC now owns 627 shares of the company’s stock worth $47,000 after acquiring an additional 121 shares during the last quarter. United Advisor Group LLC raised its position in shares of Roku by 0.9% during the 4th quarter. United Advisor Group LLC now owns 14,430 shares of the company’s stock valued at $1,073,000 after buying an additional 130 shares during the period. Cerity Partners LLC raised its position in shares of Roku by 0.5% during the 4th quarter. Cerity Partners LLC now owns 26,679 shares of the company’s stock valued at $1,984,000 after buying an additional 145 shares during the period. Smith Group Asset Management LLC raised its position in Roku by 2.8% in the first quarter. Smith Group Asset Management LLC now owns 7,390 shares of the company’s stock valued at $521,000 after purchasing an additional 200 shares during the period. Finally, Golden State Wealth Management LLC increased its position in shares of Roku by 125.4% during the first quarter. Golden State Wealth Management LLC now owns 444 shares of the company’s stock worth $31,000 after acquiring an additional 247 shares during the period. Institutional investors own 86.30% of the company’s stock.

Roku Stock Performance

NASDAQ ROKU opened at $90.90 on Thursday. Roku, Inc. has a one year low of $48.33 and a one year high of $104.96. The company has a 50-day simple moving average of $78.57 and a 200-day simple moving average of $75.89. The firm has a market capitalization of $13.27 billion, a PE ratio of -124.52 and a beta of 2.12.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. FBN Securities assumed coverage on shares of Roku in a research note on Friday, March 28th. They set an “outperform” rating and a $93.00 target price for the company. Citigroup reaffirmed a “neutral” rating and issued a $84.00 target price (up from $68.00) on shares of Roku in a report on Wednesday, June 18th. Piper Sandler increased their price target on shares of Roku from $65.00 to $84.00 and gave the company a “neutral” rating in a research report on Thursday, July 10th. Compass Point began coverage on shares of Roku in a research report on Sunday, March 23rd. They set a “buy” rating on the stock. Finally, Rosenblatt Securities reduced their target price 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. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $92.67.

Insider Activity

In other Roku news, Director Mai Fyfield sold 914 shares of the business’s stock in a transaction dated 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 transaction, the director directly owned 4,374 shares of the company’s stock, valued at $343,359. The trade was a 17.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Charles Collier sold 7,181 shares of the business’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $75.00, for a total transaction of $538,575.00. Following the transaction, the insider directly owned 10,970 shares of the company’s stock, valued at $822,750. The trade was a 39.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 96,520 shares of company stock valued at $7,898,294. Company 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.