Allspring Global Investments Holdings LLC Trims Stock Holdings in Roku, Inc. $ROKU

Allspring Global Investments Holdings LLC reduced its position in Roku, Inc. (NASDAQ:ROKU) by 3.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 121,785 shares of the company’s stock after selling 3,848 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.08% of Roku worth $11,557,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. AQR Capital Management LLC raised its holdings in shares of Roku by 275.5% in the third quarter. AQR Capital Management LLC now owns 2,586,125 shares of the company’s stock valued at $258,897,000 after buying an additional 1,897,407 shares during the last quarter. Fred Alger Management LLC grew its holdings in shares of Roku by 7,087.7% during the fourth quarter. Fred Alger Management LLC now owns 1,421,440 shares of the company’s stock worth $154,212,000 after buying an additional 1,401,664 shares during the last quarter. Norges Bank purchased a new position in shares of Roku during the fourth quarter worth about $92,808,000. Alyeska Investment Group L.P. increased its position in Roku by 380.9% in the 4th quarter. Alyeska Investment Group L.P. now owns 882,915 shares of the company’s stock valued at $95,787,000 after acquiring an additional 699,336 shares during the period. Finally, Duquesne Family Office LLC increased its position in Roku by 123.0% in the 2nd quarter. Duquesne Family Office LLC now owns 1,100,500 shares of the company’s stock valued at $96,723,000 after acquiring an additional 606,900 shares during the period. 86.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ROKU shares. Zacks Research downgraded Roku from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 14th. Wolfe Research downgraded Roku from an “outperform” rating to a “peer perform” rating in a report on Tuesday, June 16th. Wedbush lowered shares of Roku from an “outperform” rating to a “neutral” rating and set a $155.00 price objective on the stock. in a research report on Tuesday, June 16th. Morgan Stanley boosted their price objective on shares of Roku from $150.00 to $170.00 and gave the company an “overweight” rating in a research note on Thursday, June 4th. Finally, Benchmark upped their price objective on shares of Roku from $130.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Ten equities research analysts have rated the stock with a Buy rating and seventeen have given a Hold rating to the stock. According to data from MarketBeat, Roku currently has a consensus rating of “Hold” and an average price target of $155.12.

Insider Activity

In other news, CFO Dan Jedda sold 7,000 shares of the firm’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $122.56, for a total value of $857,920.00. Following the completion of the transaction, the chief financial officer owned 71,115 shares in the company, valued at $8,715,854.40. This trade represents a 8.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mustafa Ozgen sold 10,194 shares of Roku stock in a transaction on Friday, June 12th. The stock was sold at an average price of $144.00, for a total value of $1,467,936.00. Following the transaction, the insider directly owned 19,185 shares of the company’s stock, valued at $2,762,640. This trade represents a 34.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 236,499 shares of company stock valued at $30,582,963 in the last 90 days. Insiders own 13.45% of the company’s stock.

Roku Stock Down 0.8%

Shares of ROKU opened at $143.08 on Thursday. The company has a 50-day simple moving average of $133.72 and a 200-day simple moving average of $113.28. The company has a market capitalization of $21.09 billion, a PE ratio of 107.58 and a beta of 2.01. Roku, Inc. has a 52-week low of $78.53 and a 52-week high of $148.88.

Roku (NASDAQ:ROKU) last released its quarterly earnings data on Thursday, April 30th. The company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.23. The firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.20 billion. Roku had a net margin of 4.06% and a return on equity of 7.64%. The firm’s revenue was up 22.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.19) earnings per share. On average, research analysts anticipate that Roku, Inc. will post 2.41 EPS for the current year.

Roku Profile

Roku, Inc (NASDAQ: ROKU) is a technology company that develops and operates a proprietary streaming platform designed to deliver entertainment content to consumers via internet-connected devices and smart televisions. Since its inception in 2002 in California, Roku has focused on simplifying access to streaming services for viewers worldwide. The company’s platform enables users to discover, access and manage a wide array of over-the-top content from major streaming services, free ad-supported channels and niche providers.

At the core of Roku’s product lineup are a range of streaming players and sticks, which connect to televisions via HDMI and deliver the Roku OS experience.