Roku, Inc. (NASDAQ:ROKU) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. reduced its holdings in shares of Roku, Inc. (NASDAQ:ROKU) by 1.8% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 15,420 shares of the company’s stock after selling 289 shares during the quarter. Victory Capital Management Inc.’s holdings in Roku were worth $1,086,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Garde Capital Inc. acquired a new position in Roku during the 1st quarter valued at about $25,000. Golden State Wealth Management LLC grew its stake in Roku by 125.4% during the 1st quarter. Golden State Wealth Management LLC now owns 444 shares of the company’s stock valued at $31,000 after purchasing an additional 247 shares during the last quarter. Princeton Global Asset Management LLC purchased a new stake in Roku during the 1st quarter valued at about $35,000. First PREMIER Bank purchased a new stake in Roku during the 1st quarter valued at about $35,000. Finally, Fourth Dimension Wealth LLC purchased a new stake in Roku during the 4th quarter valued at about $41,000. 86.30% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Roku

In other Roku news, insider Charles Collier sold 212,559 shares of the stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $95.00, for a total transaction of $20,193,105.00. Following the completion of the transaction, the insider owned 200 shares of the company’s stock, valued at $19,000. This represents a 99.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Dan Jedda sold 3,000 shares of the stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $90.20, for a total value of $270,600.00. Following the completion of the sale, the chief financial officer directly owned 76,132 shares of the company’s stock, valued at approximately $6,867,106.40. This represents a 3.79% decrease in their position. The disclosure for this sale can be found here. Insiders sold 308,873 shares of company stock valued at $28,076,913 over the last quarter. 13.98% of the stock is currently owned by insiders.

Roku Price Performance

Shares of Roku stock opened at $92.00 on Thursday. The business has a 50 day simple moving average of $83.07 and a two-hundred day simple moving average of $76.81. Roku, Inc. has a 12 month low of $48.33 and a 12 month high of $104.96. The stock has a market capitalization of $13.43 billion, a P/E ratio of -126.03 and a beta of 2.12.

Roku (NASDAQ:ROKU) last announced its earnings results on Thursday, May 1st. The company reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.08. Roku had a negative return on equity of 4.29% and a negative net margin of 2.49%. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the prior year, the firm earned ($0.35) earnings per share. The business’s revenue was up 15.8% compared to the same quarter last year. As a group, research analysts anticipate that Roku, Inc. will post -0.3 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have weighed in on ROKU shares. Rosenblatt Securities dropped their price target on Roku from $100.00 to $75.00 and set a “neutral” rating on the stock in a research note on Friday, May 2nd. Wells Fargo & Company dropped their price target on Roku from $129.00 to $93.00 and set an “overweight” rating on the stock in a research note on Monday, April 28th. Loop Capital upgraded Roku from a “hold” rating to a “buy” rating and boosted their price target for the company from $80.00 to $100.00 in a research note on Tuesday, June 17th. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price target on shares of Roku in a research note on Thursday, July 24th. Finally, KeyCorp upgraded Roku from a “sector weight” rating to an “overweight” rating and set a $115.00 target price on the stock in a research note on Thursday, July 10th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Roku currently has an average rating of “Moderate Buy” and an average price target of $93.92.

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.