Charles Schwab Investment Management Inc. Increases Stock Holdings in Roku, Inc. (NASDAQ:ROKU)

Charles Schwab Investment Management Inc. boosted its position in shares of Roku, Inc. (NASDAQ:ROKU) by 3.2% during the third quarter, Holdings Channel.com reports. The firm owned 955,969 shares of the company’s stock after buying an additional 30,038 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Roku were worth $71,373,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of ROKU. Swedbank AB acquired a new position in Roku in the first quarter valued at approximately $1,180,000. SG Americas Securities LLC grew its holdings in shares of Roku by 238.6% during the 2nd 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 period. Kessler Investment Group LLC increased its position in shares of Roku by 21.8% during the 3rd quarter. Kessler Investment Group LLC now owns 75,968 shares of the company’s stock worth $5,672,000 after purchasing an additional 13,590 shares during the last quarter. Cetera Investment Advisers raised its holdings in Roku by 240.3% in the 1st quarter. Cetera Investment Advisers now owns 41,805 shares of the company’s stock valued at $2,724,000 after buying an additional 29,521 shares during the period. Finally, Granite Bay Wealth Management LLC acquired a new position in Roku in the second quarter valued at about $1,142,000. 86.30% of the stock is currently owned by institutional investors and hedge funds.

Roku Stock Up 2.1 %

Shares of NASDAQ ROKU opened at $67.71 on Friday. The stock has a market cap of $9.83 billion, a PE ratio of -56.42 and a beta of 2.07. Roku, Inc. has a 52-week low of $48.33 and a 52-week high of $108.84. The business has a 50-day moving average price of $73.97 and a 200 day moving average price of $65.26.

Roku (NASDAQ:ROKU) last announced its earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping 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 analyst estimates of $1.02 billion. During the same period last year, the firm posted ($2.33) earnings per share. The company’s revenue for the quarter was up 16.5% compared to the same quarter last year. Sell-side analysts anticipate that Roku, Inc. will post -1.1 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Rosenblatt Securities lifted their price target on shares of Roku from $61.00 to $86.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Benchmark reissued a “buy” rating and issued a $105.00 target price on shares of Roku in a research report on Thursday, September 12th. Robert W. Baird raised Roku from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $70.00 to $90.00 in a research note on Monday, November 18th. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 target price on shares of Roku in a research note on Thursday, October 31st. Finally, Piper Sandler increased their price objective on Roku from $60.00 to $75.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Roku presently has a consensus rating of “Moderate Buy” and an average target price of $82.62.

Insider Buying and Selling at Roku

In other Roku news, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $77.20, for a total value of $1,930,000.00. Following the transaction, the chief executive officer now directly owns 5,020 shares in the company, valued at approximately $387,544. This trade represents a 83.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Charles Collier sold 15,454 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $75.00, for a total value of $1,159,050.00. Following the sale, the insider now owns 200 shares of the company’s stock, valued at $15,000. This trade represents a 98.72 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 90,240 shares of company stock worth $6,729,582. 13.98% of the stock is 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.