Cerity Partners LLC Raises Stock Position in Roku, Inc. (NASDAQ:ROKU)

Cerity Partners LLC boosted its position in shares of Roku, Inc. (NASDAQ:ROKU) by 17.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,400 shares of the company’s stock after purchasing an additional 4,721 shares during the period. Cerity Partners LLC’s holdings in Roku were worth $2,212,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. True Vision MN LLC lifted its holdings in shares of Roku by 6.6% in the 1st quarter. True Vision MN LLC now owns 5,365 shares of the company’s stock worth $378,000 after acquiring an additional 333 shares during the last quarter. Stratos Wealth Partners LTD. acquired a new position in shares of Roku in the first quarter valued at approximately $306,000. 49 Wealth Management LLC acquired a new position in shares of Roku in the first quarter valued at approximately $362,000. Envestnet Asset Management Inc. grew its holdings in shares of Roku by 12.8% in the first quarter. Envestnet Asset Management Inc. now owns 175,250 shares of the company’s stock valued at $12,345,000 after purchasing an additional 19,889 shares in the last quarter. Finally, Concurrent Investment Advisors LLC grew its holdings in shares of Roku by 18.8% in the first quarter. Concurrent Investment Advisors LLC now owns 5,068 shares of the company’s stock valued at $357,000 after purchasing an additional 801 shares in the last quarter. 86.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ROKU has been the subject of a number of recent research reports. Guggenheim reiterated a “buy” rating and issued a $100.00 price target on shares of Roku in a research note on Friday, May 2nd. Rosenblatt Securities reduced their price objective on shares of Roku from $100.00 to $75.00 and set a “neutral” rating for the company in a research report on Friday, May 2nd. Wells Fargo & Company reduced their price objective on shares of Roku from $129.00 to $93.00 and set an “overweight” rating for the company in a research report on Monday, April 28th. Needham & Company LLC boosted their price objective on shares of Roku from $88.50 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, July 9th. Finally, Loop Capital upgraded shares of Roku from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $80.00 to $100.00 in a research report on Tuesday, June 17th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.29.

Insiders Place Their Bets

In related news, insider Charles Collier sold 7,181 shares of Roku stock in a transaction dated Thursday, June 5th. The stock was 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mai Fyfield sold 914 shares of Roku stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $78.50, for a total value of $71,749.00. Following the transaction, the director directly owned 4,374 shares in the company, valued at approximately $343,359. The trade was a 17.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 96,520 shares of company stock valued at $7,898,294. Corporate insiders own 13.98% of the company’s stock.

Roku Price Performance

Roku stock opened at $93.29 on Friday. Roku, Inc. has a 12-month low of $48.33 and a 12-month high of $104.96. The stock has a market capitalization of $13.61 billion, a P/E ratio of -127.79 and a beta of 2.12. The firm’s 50-day moving average is $79.82 and its two-hundred day moving average is $76.15.

Roku (NASDAQ:ROKU) last announced its quarterly earnings data on Thursday, May 1st. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.08. The business had revenue of $1.02 billion for 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 company’s revenue was up 15.8% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.35) EPS. As a group, analysts forecast that Roku, Inc. will post -0.3 EPS for the current year.

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.