Edgestream Partners L.P. Boosts Stock Holdings in Roku, Inc. (NASDAQ:ROKU)

Edgestream Partners L.P. grew its position in shares of Roku, Inc. (NASDAQ:ROKU) by 133.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,639 shares of the company’s stock after purchasing an additional 10,670 shares during the quarter. Edgestream Partners L.P.’s holdings in Roku were worth $1,117,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ROKU. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Roku by 24.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,349,067 shares of the company’s stock valued at $478,939,000 after purchasing an additional 1,457,925 shares in the last quarter. Nikko Asset Management Americas Inc. increased its holdings in Roku by 25.8% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 7,091,891 shares of the company’s stock worth $462,108,000 after acquiring an additional 1,455,408 shares in the last quarter. Norges Bank purchased a new stake in Roku in the 4th quarter worth $90,386,000. Quadrature Capital Ltd purchased a new stake in Roku in the 4th quarter worth $35,856,000. Finally, Vanguard Group Inc. increased its holdings in Roku by 3.3% in the 4th quarter. Vanguard Group Inc. now owns 11,853,947 shares of the company’s stock worth $1,086,533,000 after acquiring an additional 380,409 shares in the last quarter. 86.30% of the stock is owned by hedge funds and other institutional investors.

Roku Trading Down 1.8 %

Shares of ROKU stock opened at $76.02 on Friday. The company’s 50-day moving average price is $63.33 and its 200-day moving average price is $61.16. Roku, Inc. has a twelve month low of $48.33 and a twelve month high of $108.84. The stock has a market cap of $11.00 billion, a price-to-earnings ratio of -19.05 and a beta of 2.06.

Roku (NASDAQ:ROKU) last posted its earnings results on Thursday, August 1st. The company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.21. Roku had a negative net margin of 13.16% and a negative return on equity of 21.03%. The company had revenue of $968.18 million for the quarter, compared to analysts’ expectations of $937.78 million. During the same quarter in the prior year, the company posted ($0.76) earnings per share. Roku’s revenue for the quarter was up 14.3% compared to the same quarter last year. As a group, equities research analysts predict that Roku, Inc. will post -1.45 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Benchmark reissued a “buy” rating and issued a $105.00 price target on shares of Roku in a report on Thursday, September 12th. Wells Fargo & Company raised shares of Roku from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $50.00 to $72.00 in a report on Thursday, September 5th. Guggenheim raised shares of Roku from a “neutral” rating to a “buy” rating and set a $75.00 price target for the company in a report on Friday, August 23rd. Rosenblatt Securities cut their price target on shares of Roku from $89.00 to $61.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Finally, Macquarie dropped their target price on shares of Roku from $88.00 to $72.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Roku presently has a consensus rating of “Hold” and an average price target of $78.75.

Insider Buying and Selling at Roku

In other Roku news, CFO Dan Jedda sold 1,000 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $75.33, for a total value of $75,330.00. Following the transaction, the chief financial officer now owns 54,267 shares of the company’s stock, valued at $4,087,933.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Roku news, CFO Dan Jedda sold 1,000 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $75.33, for a total transaction of $75,330.00. Following the sale, the chief financial officer now directly owns 54,267 shares in the company, valued at $4,087,933.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Charles Collier sold 15,454 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $75.00, for a total transaction of $1,159,050.00. Following the sale, the insider now owns 200 shares in the company, valued at $15,000. The disclosure for this sale can be found here. Insiders have sold 46,945 shares of company stock valued at $3,465,135 over the last 90 days. 13.98% of the stock is owned by insiders.

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.