PNC Financial Services Group Inc. Decreases Stock Position in Roku, Inc. (NASDAQ:ROKU)

PNC Financial Services Group Inc. lowered its stake in Roku, Inc. (NASDAQ:ROKU) by 10.5% during the 4th quarter, Holdings Channel reports. The institutional investor owned 13,037 shares of the company’s stock after selling 1,530 shares during the period. PNC Financial Services Group Inc.’s holdings in Roku were worth $1,195,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Harbour Investments Inc. increased its holdings in shares of Roku by 3.3% in the third quarter. Harbour Investments Inc. now owns 3,499 shares of the company’s stock worth $247,000 after buying an additional 113 shares during the period. Avantax Advisory Services Inc. increased its holdings in Roku by 0.9% during the 4th quarter. Avantax Advisory Services Inc. now owns 12,949 shares of the company’s stock valued at $1,187,000 after purchasing an additional 117 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Roku by 0.3% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 50,971 shares of the company’s stock valued at $4,415,000 after purchasing an additional 150 shares during the period. Amalgamated Bank increased its holdings in Roku by 1.0% during the 4th quarter. Amalgamated Bank now owns 19,820 shares of the company’s stock valued at $1,817,000 after purchasing an additional 191 shares during the period. Finally, Sheaff Brock Investment Advisors LLC increased its holdings in Roku by 4.3% during the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 4,731 shares of the company’s stock valued at $434,000 after purchasing an additional 194 shares during the period. Hedge funds and other institutional investors own 86.30% of the company’s stock.

Insider Buying and Selling

In related news, Director Mai Fyfield sold 650 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $57.88, for a total value of $37,622.00. Following the completion of the transaction, the director now owns 3,259 shares of the company’s stock, valued at $188,630.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Roku news, Director Mai Fyfield sold 650 shares of Roku stock in a transaction on Monday, June 10th. The shares were sold at an average price of $57.88, for a total value of $37,622.00. Following the transaction, the director now directly owns 3,259 shares of the company’s stock, valued at $188,630.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Stephen H. Kay sold 3,322 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $57.09, for a total transaction of $189,652.98. Following the sale, the senior vice president now directly owns 82,036 shares in the company, valued at $4,683,435.24. The disclosure for this sale can be found here. Insiders sold 23,898 shares of company stock valued at $1,347,966 over the last 90 days. Corporate insiders own 13.98% of the company’s stock.

Roku Price Performance

Shares of NASDAQ ROKU opened at $54.40 on Friday. Roku, Inc. has a 1 year low of $51.51 and a 1 year high of $108.84. The firm has a 50-day simple moving average of $58.04 and a two-hundred day simple moving average of $72.14.

Roku (NASDAQ:ROKU) last posted its quarterly earnings results on Thursday, April 25th. The company reported ($0.35) earnings per share for the quarter, beating the consensus estimate of ($0.64) by $0.29. Roku had a negative net margin of 15.64% and a negative return on equity of 23.81%. The firm had revenue of $881.50 million during the quarter, compared to the consensus estimate of $843.54 million. During the same quarter in the previous year, the firm posted ($1.38) earnings per share. The company’s revenue was up 19.0% on a year-over-year basis. On average, sell-side analysts expect that Roku, Inc. will post -1.94 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Jefferies Financial Group assumed coverage on Roku in a report on Thursday, May 2nd. They set an “underperform” rating and a $50.00 price target on the stock. Morgan Stanley cut their price objective on Roku from $65.00 to $60.00 and set an “underweight” rating on the stock in a research report on Friday, April 5th. Citigroup cut their price objective on Roku from $75.00 to $70.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 30th. Susquehanna cut their price objective on Roku from $110.00 to $80.00 and set a “positive” rating on the stock in a research report on Monday, April 29th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and set a $89.00 price objective on shares of Roku in a research report on Friday, April 26th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $82.50.

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.