Richard W. Paul & Associates LLC Grows Holdings in Roku, Inc. (NASDAQ:ROKU)

Richard W. Paul & Associates LLC lifted its position in shares of Roku, Inc. (NASDAQ:ROKU) by 16.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,425 shares of the company’s stock after buying an additional 1,718 shares during the quarter. Richard W. Paul & Associates LLC’s holdings in Roku were worth $745,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in Roku by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 11,946,605 shares of the company’s stock worth $778,560,000 after buying an additional 92,658 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Roku by 24.7% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,349,067 shares of the company’s stock worth $478,939,000 after acquiring an additional 1,457,925 shares during the last quarter. Nikko Asset Management Americas Inc. grew its holdings in Roku by 25.8% in the first quarter. Nikko Asset Management Americas Inc. now owns 7,091,891 shares of the company’s stock valued at $462,108,000 after purchasing an additional 1,455,408 shares during the period. Norges Bank acquired a new position in Roku during the fourth quarter worth approximately $90,386,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Roku by 3.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 865,129 shares of the company’s stock valued at $79,298,000 after buying an additional 28,930 shares during the period. Institutional investors and hedge funds own 86.30% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on ROKU shares. Piper Sandler reiterated a “neutral” rating and issued a $65.00 target price (down previously from $81.00) on shares of Roku in a report on Friday, April 26th. Wells Fargo & Company lifted their price target on shares of Roku from $45.00 to $52.00 and gave the company an “underweight” rating in a research report on Friday, April 26th. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price objective on shares of Roku in a research report on Thursday, June 20th. Rosenblatt Securities decreased their price target on shares of Roku from $89.00 to $61.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Finally, Jefferies Financial Group assumed coverage on Roku in a research note on Thursday, May 2nd. They set an “underperform” rating and a $50.00 price objective on the stock. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $79.71.

Roku Stock Performance

Shares of NASDAQ:ROKU traded down $0.96 during trading hours on Thursday, hitting $61.81. The stock had a trading volume of 1,956,288 shares, compared to its average volume of 4,646,602. The stock’s fifty day simple moving average is $58.29 and its 200 day simple moving average is $62.25. The firm has a market capitalization of $8.94 billion, a price-to-earnings ratio of -15.66 and a beta of 1.96. Roku, Inc. has a 1-year low of $48.33 and a 1-year high of $108.84.

Roku (NASDAQ:ROKU) last announced its earnings results on Thursday, August 1st. The company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.21. The firm had revenue of $968.18 million for the quarter, compared to the consensus estimate of $937.78 million. Roku had a negative return on equity of 21.03% and a negative net margin of 13.16%. The firm’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.76) EPS. As a group, research analysts anticipate that Roku, Inc. will post -1.45 EPS for the current year.

Insider Buying and Selling

In other news, SVP Stephen H. Kay sold 3,322 shares of the company’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $57.09, for a total value of $189,652.98. Following the transaction, the senior vice president now directly owns 82,036 shares of the company’s stock, valued at $4,683,435.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Stephen H. Kay sold 12,124 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $55.59, for a total transaction of $673,973.16. Following the completion of the sale, the senior vice president now directly owns 91,905 shares of the company’s stock, valued at approximately $5,108,998.95. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Stephen H. Kay sold 3,322 shares of Roku stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $57.09, for a total transaction of $189,652.98. Following the completion of the transaction, the senior vice president now owns 82,036 shares in the company, valued at approximately $4,683,435.24. The disclosure for this sale can be found here. Insiders have sold a total of 27,075 shares of company stock valued at $1,556,005 over the last quarter. Corporate insiders own 13.98% of the company’s stock.

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.