Vestmark Advisory Solutions Inc. Purchases New Stake in Roku, Inc. (NASDAQ:ROKU)

Vestmark Advisory Solutions Inc. acquired a new position in Roku, Inc. (NASDAQ:ROKU) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 181,242 shares of the company’s stock, valued at approximately $16,613,000. Roku accounts for about 0.8% of Vestmark Advisory Solutions Inc.’s portfolio, making the stock its 23rd largest position. Vestmark Advisory Solutions Inc. owned 0.13% of Roku as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC raised its holdings in shares of Roku by 85.9% in the 3rd quarter. FMR LLC now owns 9,441,349 shares of the company’s stock worth $666,465,000 after purchasing an additional 4,363,754 shares during the period. Lord Abbett & CO. LLC purchased a new position in shares of Roku during the 3rd quarter valued at $55,182,000. Wellington Management Group LLP grew its stake in shares of Roku by 34.6% during the 3rd quarter. Wellington Management Group LLP now owns 2,543,081 shares of the company’s stock worth $179,516,000 after acquiring an additional 653,940 shares during the period. Assenagon Asset Management S.A. increased its holdings in Roku by 814.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 270,888 shares of the company’s stock worth $24,830,000 after acquiring an additional 241,255 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in Roku by 1,910.3% in the 3rd quarter. Principal Financial Group Inc. now owns 213,757 shares of the company’s stock valued at $15,089,000 after acquiring an additional 203,124 shares during the period. 86.30% of the stock is currently owned by hedge funds and other institutional investors.

Roku Stock Down 1.4 %

NASDAQ:ROKU traded down $0.84 during midday trading on Friday, hitting $59.11. The company had a trading volume of 3,904,550 shares, compared to its average volume of 4,960,037. The company has a market capitalization of $8.48 billion, a PE ratio of -14.81 and a beta of 1.69. Roku, Inc. has a 52-week low of $51.62 and a 52-week high of $108.84. The stock’s fifty day moving average price is $62.07 and its 200-day moving average price is $78.20.

Roku (NASDAQ:ROKU) last posted its quarterly earnings data on Thursday, April 25th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.64) by $0.29. The firm had revenue of $881.50 million during the quarter, compared to analysts’ expectations of $843.54 million. Roku had a negative return on equity of 23.81% and a negative net margin of 15.64%. The company’s revenue for the quarter was up 19.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.38) EPS. As a group, research analysts forecast that Roku, Inc. will post -1.94 earnings per share for the current year.

Insiders Place Their Bets

In other Roku news, Director Jeffrey M. Blackburn acquired 8,000 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was bought at an average price of $63.96 per share, with a total value of $511,680.00. Following the purchase, the director now owns 8,000 shares of the company’s stock, valued at $511,680. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Jeffrey M. Blackburn bought 8,000 shares of the stock in a transaction dated Wednesday, March 13th. The stock was bought at an average price of $63.96 per share, with a total value of $511,680.00. Following the purchase, the director now owns 8,000 shares in the company, valued at approximately $511,680. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $98.64, for a total value of $2,466,000.00. Following the sale, the chief executive officer now owns 141,221 shares of the company’s stock, valued at $13,930,039.44. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 54,751 shares of company stock valued at $4,375,835. 13.63% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on ROKU shares. Seaport Res Ptn raised shares of Roku from a “neutral” rating to a “buy” rating in a research report on Monday, April 29th. Citigroup dropped their target price on Roku from $75.00 to $70.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 30th. Stephens reiterated an “overweight” rating and issued a $105.00 price target on shares of Roku in a research report on Friday, February 16th. Pivotal Research dropped their price objective on Roku from $85.00 to $75.00 and set a “hold” rating on the stock in a report on Friday, February 16th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $65.00 target price (down previously from $81.00) on shares of Roku in a report on Friday, April 26th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $82.50.

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.