Apollon Wealth Management LLC Purchases 2,006 Shares of Roku, Inc. (NASDAQ:ROKU)

Apollon Wealth Management LLC lifted its position in Roku, Inc. (NASDAQ:ROKU) by 54.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,690 shares of the company’s stock after acquiring an additional 2,006 shares during the quarter. Apollon Wealth Management LLC’s holdings in Roku were worth $425,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. ARK Investment Management LLC grew its stake in shares of Roku by 1.3% in the 2nd quarter. ARK Investment Management LLC now owns 12,716,432 shares of the company’s stock worth $762,096,000 after acquiring an additional 159,785 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of 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. Bank of New York Mellon Corp boosted its holdings in shares of Roku by 5.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 500,794 shares of the company’s stock worth $30,013,000 after buying an additional 24,926 shares during the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of Roku by 138.1% in the 1st quarter. Canada Pension Plan Investment Board now owns 342,400 shares of the company’s stock worth $22,314,000 after buying an additional 198,600 shares during the last quarter. Finally, Andra AP fonden boosted its holdings in shares of Roku by 116.6% in the 2nd quarter. Andra AP fonden now owns 293,900 shares of the company’s stock worth $17,613,000 after buying an additional 158,200 shares during the last quarter. Institutional investors own 86.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on ROKU shares. Citigroup boosted their price target on shares of Roku from $60.00 to $77.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Loop Capital upped their price objective on shares of Roku from $65.00 to $70.00 and gave the company a “hold” rating in a report on Thursday, October 31st. Macquarie reaffirmed an “outperform” rating and set a $90.00 price objective on shares of Roku in a report on Thursday, October 31st. Moffett Nathanson raised shares of Roku from a “sell” rating to a “neutral” rating and set a $80.00 price objective on the stock in a report on Tuesday, October 1st. Finally, Rosenblatt Securities upped their price objective on shares of Roku from $61.00 to $86.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $83.95.

Insider Buying and Selling at Roku

In other news, insider Gilbert Fuchsberg sold 1,693 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was 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 owns 38,602 shares of the company’s stock, valued at approximately $2,485,582.78. This represents a 4.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $77.20, for a total value of $1,930,000.00. Following the sale, the chief executive officer now directly owns 5,020 shares of the company’s stock, valued at approximately $387,544. This trade represents a 83.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 69,776 shares of company stock worth $5,267,305 over the last ninety days. Insiders own 13.98% of the company’s stock.

Roku Trading Down 7.3 %

ROKU stock opened at $68.87 on Monday. Roku, Inc. has a 1-year low of $48.33 and a 1-year high of $108.84. The company’s 50 day moving average is $74.36 and its 200 day moving average is $64.70. The stock has a market cap of $10.00 billion, a price-to-earnings ratio of -57.39 and a beta of 2.07.

Roku (NASDAQ:ROKU) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.29. Roku had a negative net margin of 4.42% and a negative return on equity of 7.22%. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same period last year, the business earned ($2.33) earnings per share. The business’s quarterly revenue was up 16.5% on a year-over-year basis. As a group, sell-side analysts forecast that Roku, Inc. will post -1.1 EPS for the current fiscal year.

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.