Envestnet Asset Management Inc. Raises Position in Roku, Inc. (NASDAQ:ROKU)

Envestnet Asset Management Inc. boosted its stake in shares of Roku, Inc. (NASDAQ:ROKU) by 20.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 110,616 shares of the company’s stock after buying an additional 19,002 shares during the period. Envestnet Asset Management Inc.’s holdings in Roku were worth $6,629,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Swedbank AB bought a new position in shares of Roku during the first quarter valued at approximately $1,180,000. SG Americas Securities LLC lifted its position in shares of Roku by 238.6% during the second quarter. SG Americas Securities LLC now owns 73,528 shares of the company’s stock worth $4,407,000 after purchasing an additional 51,815 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Roku by 23.3% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 62,822 shares of the company’s stock valued at $4,094,000 after purchasing an additional 11,851 shares during the period. Garde Capital Inc. purchased a new position in Roku in the 4th quarter worth about $105,000. Finally, Vanguard Group Inc. lifted its holdings in Roku by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 11,946,605 shares of the company’s stock valued at $778,560,000 after buying an additional 92,658 shares in the last quarter. 86.30% of the stock is currently owned by institutional investors.

Roku Stock Performance

Shares of ROKU opened at $74.41 on Monday. The stock has a 50 day moving average price of $64.43 and a 200 day moving average price of $61.53. The stock has a market capitalization of $10.77 billion, a price-to-earnings ratio of -18.65 and a beta of 2.06. Roku, Inc. has a one year low of $48.33 and a one year high of $108.84.

Roku (NASDAQ:ROKU) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.24) earnings per share for the quarter, topping 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 net margin of 13.16% and a negative return on equity of 21.03%. The company’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same period last year, the firm posted ($0.76) earnings per share. On average, analysts predict that Roku, Inc. will post -1.44 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on ROKU shares. Wedbush restated an “outperform” rating and set a $75.00 price target on shares of Roku in a research note on Friday, August 2nd. Citigroup lifted their price objective on shares of Roku from $60.00 to $77.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Bank of America decreased their target price on shares of Roku from $85.00 to $75.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Rosenblatt Securities reduced their price target on Roku from $89.00 to $61.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. raised their price objective on Roku from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 18th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $79.10.

Insider Activity at Roku

In related news, insider Gilbert Fuchsberg sold 1,693 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $64.39, for a total transaction of $109,012.27. Following the completion of the sale, the insider now directly owns 38,602 shares in the company, valued at $2,485,582.78. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Gilbert Fuchsberg sold 1,693 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total value of $109,012.27. Following the transaction, the insider now owns 38,602 shares of the company’s stock, valued at approximately $2,485,582.78. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Charles Collier sold 3,590 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $65.00, for a total value of $233,350.00. Following the sale, the insider now directly owns 12,064 shares of the company’s stock, valued at $784,160. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 46,945 shares of company stock valued at $3,465,135. 13.98% of the stock is currently owned by 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.