Commonwealth Equity Services LLC Sells 896 Shares of Roku, Inc. (NASDAQ:ROKU)

Commonwealth Equity Services LLC reduced its holdings in Roku, Inc. (NASDAQ:ROKU) by 2.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 31,193 shares of the company’s stock after selling 896 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Roku were worth $1,869,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its position in shares of Roku by 24.1% during the fourth quarter. Victory Capital Management Inc. now owns 16,754 shares of the company’s stock valued at $1,536,000 after buying an additional 3,253 shares during the last quarter. Avantax Advisory Services Inc. boosted its position in shares of Roku by 0.9% during the fourth quarter. Avantax Advisory Services Inc. now owns 12,949 shares of the company’s stock valued at $1,187,000 after buying an additional 117 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Roku by 0.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 50,971 shares of the company’s stock valued at $4,415,000 after buying an additional 150 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in shares of Roku by 8.7% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 11,381 shares of the company’s stock valued at $1,043,000 after buying an additional 914 shares during the last quarter. Finally, Verity Asset Management Inc. boosted its position in shares of Roku by 3.0% during the fourth quarter. Verity Asset Management Inc. now owns 17,390 shares of the company’s stock valued at $1,594,000 after buying an additional 500 shares during the last quarter. Institutional investors and hedge funds own 86.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ROKU. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 target price on shares of Roku in a research report on Friday. Wells Fargo & Company raised Roku from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $50.00 to $72.00 in a research report on Thursday, September 5th. JPMorgan Chase & Co. cut their price objective on Roku from $90.00 to $80.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Macquarie cut their price objective on Roku from $88.00 to $72.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Finally, Wolfe Research raised Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 price objective on the stock in a research report on Thursday. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $78.25.

Insider Transactions at Roku

In other news, insider Gilbert Fuchsberg sold 1,693 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total value of $109,012.27. Following the completion of the transaction, the insider now directly owns 38,602 shares in the company, valued at approximately $2,485,582.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Gilbert Fuchsberg sold 1,693 shares of the stock in a transaction dated 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 directly owns 38,602 shares in the company, valued at approximately $2,485,582.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Charles Collier sold 15,454 shares of the stock in a transaction dated Thursday, September 12th. The shares were 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. The disclosure for this sale can be found here. In the last three months, insiders sold 45,945 shares of company stock worth $3,389,805. 13.98% of the stock is currently owned by corporate insiders.

Roku Price Performance

Shares of ROKU opened at $74.69 on Friday. Roku, Inc. has a 1 year low of $48.33 and a 1 year high of $108.84. The firm has a market cap of $10.81 billion, a PE ratio of -18.72 and a beta of 2.06. The stock’s fifty day moving average price is $61.63 and its two-hundred day moving average price is $60.66.

Roku (NASDAQ:ROKU) last posted its earnings results on Thursday, August 1st. The company reported ($0.24) EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $937.78 million. During the same period in the previous year, the business earned ($0.76) earnings per share. The firm’s revenue was up 14.3% on a year-over-year basis. Sell-side analysts anticipate that Roku, Inc. will post -1.45 earnings per share for the current fiscal year.

Roku 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.