Handelsinvest Investeringsforvaltning Decreases Stock Position in Roku, Inc. (NASDAQ:ROKU)

Handelsinvest Investeringsforvaltning cut its position in Roku, Inc. (NASDAQ:ROKU) by 34.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,497 shares of the company’s stock after selling 1,816 shares during the quarter. Handelsinvest Investeringsforvaltning’s holdings in Roku were worth $228,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in ROKU. Allspring Global Investments Holdings LLC raised its holdings in Roku by 243.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,045 shares of the company’s stock valued at $133,000 after acquiring an additional 1,449 shares in the last quarter. SteelPeak Wealth LLC raised its holdings in Roku by 77.9% in the first quarter. SteelPeak Wealth LLC now owns 9,159 shares of the company’s stock valued at $597,000 after acquiring an additional 4,011 shares in the last quarter. Counterpoint Mutual Funds LLC acquired a new stake in Roku in the first quarter valued at $275,000. Gateway Investment Advisers LLC acquired a new stake in Roku in the first quarter valued at $897,000. Finally, Banque Cantonale Vaudoise raised its holdings in Roku by 145.5% in the first quarter. Banque Cantonale Vaudoise now owns 5,758 shares of the company’s stock valued at $375,000 after acquiring an additional 3,413 shares in the last quarter. 86.30% of the stock is currently owned by hedge funds and other institutional investors.

Roku Trading Up 1.5 %

Shares of ROKU opened at $62.29 on Thursday. Roku, Inc. has a one year low of $51.51 and a one year high of $108.84. The company has a 50-day moving average of $58.02 and a two-hundred day moving average of $69.77.

Roku (NASDAQ:ROKU) last announced its earnings results on Thursday, April 25th. The company reported ($0.35) EPS for the quarter, topping 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 company had revenue of $881.50 million during the quarter, compared to analysts’ expectations of $843.54 million. During the same period last year, the company posted ($1.38) earnings per share. The business’s revenue for the quarter was up 19.0% on a year-over-year basis. Equities analysts forecast that Roku, Inc. will post -1.94 EPS for the current year.

Analyst Upgrades and Downgrades

ROKU has been the topic of several recent analyst reports. Benchmark cut their price target on shares of Roku from $115.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, April 26th. Jefferies Financial Group assumed coverage on shares of Roku in a report on Thursday, May 2nd. They issued an “underperform” rating and a $50.00 price target on the stock. Susquehanna dropped their target price on shares of Roku from $110.00 to $80.00 and set a “positive” rating on the stock in a report on Monday, April 29th. Needham & Company LLC reissued a “buy” rating and set a $100.00 target price on shares of Roku in a report on Thursday, June 20th. Finally, Wells Fargo & Company increased their target price on shares of Roku from $45.00 to $52.00 and gave the stock an “underweight” rating in a report on Friday, April 26th. Four equities research 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 company has an average rating of “Hold” and a consensus target price of $82.50.

Insiders Place Their Bets

In other news, SVP Stephen H. Kay sold 12,124 shares of the stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $55.59, for a total value 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 $5,108,998.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Stephen H. Kay sold 12,124 shares of the stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $55.59, for a total value 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 $5,108,998.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Stephen H. Kay sold 3,322 shares of the stock in a transaction that occurred 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 sale, the senior vice president now directly owns 82,036 shares of the company’s stock, valued at $4,683,435.24. The disclosure for this sale can be found here. Insiders sold a total of 23,691 shares of company stock worth $1,334,455 over the last ninety days. 13.98% of the stock is currently owned by company insiders.

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.