Cedar Wealth Management LLC Purchases Shares of 801 Roku, Inc. (NASDAQ:ROKU)

Cedar Wealth Management LLC acquired a new position in Roku, Inc. (NASDAQ:ROKU) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 801 shares of the company’s stock, valued at approximately $48,000.

Several other hedge funds and other institutional investors have also modified their holdings of ROKU. Quarry LP boosted its position in Roku by 160.2% during the 4th quarter. Quarry LP now owns 432 shares of the company’s stock worth $40,000 after purchasing an additional 266 shares during the period. Benjamin Edwards Inc. grew its stake in shares of Roku by 43.5% in the first quarter. Benjamin Edwards Inc. now owns 617 shares of the company’s stock valued at $40,000 after buying an additional 187 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in Roku by 835.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 683 shares of the company’s stock worth $45,000 after acquiring an additional 610 shares in the last quarter. Natixis purchased a new position in Roku in the 1st quarter worth approximately $53,000. Finally, Versant Capital Management Inc grew its position in Roku by 706.2% in the second quarter. Versant Capital Management Inc now owns 911 shares of the company’s stock valued at $55,000 after acquiring an additional 798 shares in the last quarter. 86.30% of the stock is owned by institutional investors and hedge funds.

Roku Stock Up 0.1 %

Roku stock opened at $77.45 on Friday. The firm has a 50-day moving average price of $63.03 and a two-hundred day moving average price of $61.07. Roku, Inc. has a 52-week low of $48.33 and a 52-week high of $108.84. The firm has a market capitalization of $11.21 billion, a price-to-earnings ratio of -19.41 and a beta of 2.06.

Roku (NASDAQ:ROKU) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.21. Roku had a negative return on equity of 21.03% and a negative net margin of 13.16%. The business had revenue of $968.18 million during the quarter, compared to analyst estimates of $937.78 million. During the same period in the prior year, the company posted ($0.76) EPS. The business’s revenue for the quarter was up 14.3% compared to the same quarter last year. Research analysts expect that Roku, Inc. will post -1.45 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on ROKU shares. JPMorgan Chase & Co. boosted their target price on shares of Roku from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday. Benchmark restated a “buy” rating and set a $105.00 target price on shares of Roku in a research note on Thursday, September 12th. Macquarie cut their price target on Roku from $88.00 to $72.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Guggenheim upgraded Roku from a “neutral” rating to a “buy” rating and set a $75.00 price objective on the stock in a report on Friday, August 23rd. Finally, Bank of America reduced their target price on Roku from $85.00 to $75.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Roku currently has a consensus rating of “Hold” and an average price target of $78.75.

Insider Activity

In related news, insider Charles Collier sold 3,590 shares of Roku stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $65.00, for a total transaction of $233,350.00. Following the transaction, the insider now directly owns 12,064 shares of the company’s stock, valued at $784,160. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Roku news, insider Charles Collier sold 3,590 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $65.00, for a total transaction of $233,350.00. Following the sale, the insider now owns 12,064 shares in the company, valued at approximately $784,160. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $75.00, for a total value of $1,875,000.00. Following the completion of the sale, the chief executive officer now directly owns 5,020 shares of the company’s stock, valued at approximately $376,500. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 46,945 shares of company stock worth $3,465,135. 13.98% of the stock is owned by company insiders.

Roku Company 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.