Cherry Creek Investment Advisors Inc. purchased a new stake in Roku, Inc. (NASDAQ:ROKU) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 443 shares of the company’s stock, valued at approximately $203,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Northern Oak Wealth Management Inc. increased its holdings in shares of Roku by 100.0% in the first quarter. Northern Oak Wealth Management Inc. now owns 100 shares of the company’s stock valued at $33,000 after buying an additional 50 shares in the last quarter. RMR Wealth Builders increased its holdings in shares of Roku by 65.7% in the first quarter. RMR Wealth Builders now owns 116 shares of the company’s stock valued at $38,000 after buying an additional 46 shares in the last quarter. Credit Agricole S A raised its stake in Roku by 48.3% during the 2nd quarter. Credit Agricole S A now owns 86 shares of the company’s stock valued at $40,000 after purchasing an additional 28 shares during the period. Selective Wealth Management Inc. acquired a new stake in Roku during the 2nd quarter valued at $46,000. Finally, Bessemer Group Inc. acquired a new stake in Roku during the 2nd quarter valued at $46,000. 62.10% of the stock is currently owned by institutional investors.
In other news, CEO Anthony J. Wood sold 85,000 shares of Roku stock in a transaction dated Friday, October 1st. The stock was sold at an average price of $310.22, for a total value of $26,368,700.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Scott A. Rosenberg sold 16,807 shares of the business’s stock in a transaction dated Monday, August 9th. The shares were sold at an average price of $389.77, for a total value of $6,550,864.39. The disclosure for this sale can be found here. Insiders sold 449,758 shares of company stock worth $160,228,681 over the last quarter. 15.32% of the stock is currently owned by corporate insiders.
Roku (NASDAQ:ROKU) last issued its quarterly earnings data on Wednesday, August 4th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.38. Roku had a net margin of 9.91% and a return on equity of 12.19%. The firm had revenue of $645.10 million during the quarter, compared to analysts’ expectations of $618.35 million. During the same period in the prior year, the company posted ($0.35) earnings per share. Roku’s revenue for the quarter was up 81.2% on a year-over-year basis. On average, sell-side analysts predict that Roku, Inc. will post 1.31 EPS for the current fiscal year.
Several analysts have issued reports on the stock. Morgan Stanley boosted their target price on shares of Roku from $300.00 to $325.00 and gave the company an “underweight” rating in a research note on Monday, August 2nd. Needham & Company LLC assumed coverage on shares of Roku in a research note on Thursday, July 15th. They set a “buy” rating and a $550.00 target price on the stock. Guggenheim raised shares of Roku from a “neutral” rating to a “buy” rating and set a $395.00 target price on the stock in a research note on Thursday, September 23rd. DA Davidson boosted their target price on shares of Roku from $560.00 to $600.00 and gave the company a “buy” rating in a research note on Thursday, August 5th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $560.00 target price on shares of Roku in a research note on Thursday, October 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat, Roku currently has a consensus rating of “Buy” and an average target price of $440.59.
Roku, Inc engages in the provision of a streaming platform for television. It operates through the following business segments: Player and Platform. The Player segment consists of net sales of streaming media players and accessories through retailers and distributors, as well as directly to customers through the company’s website.
Read More: Understanding Market Liquidity
Want to see what other hedge funds are holding ROKU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Roku, Inc. (NASDAQ:ROKU).
Receive News & Ratings for Roku Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Roku and related companies with MarketBeat.com's FREE daily email newsletter.