49 Wealth Management LLC Takes Position in Roku, Inc. (NASDAQ:ROKU)

49 Wealth Management LLC acquired a new stake in Roku, Inc. (NASDAQ:ROKU - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 5,138 shares of the company's stock, valued at approximately $362,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Garde Capital Inc. purchased a new position in Roku in the 1st quarter valued at $25,000. Golden State Wealth Management LLC lifted its holdings in Roku by 125.4% in 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 in the last quarter. Princeton Global Asset Management LLC purchased a new position in Roku in the 1st quarter valued at $35,000. First PREMIER Bank purchased a new position in Roku in the 1st quarter valued at $35,000. Finally, Harvest Fund Management Co. Ltd lifted its holdings in Roku by 4,091.7% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 503 shares of the company's stock valued at $37,000 after purchasing an additional 491 shares in the last quarter. Hedge funds and other institutional investors own 86.30% of the company's stock.

Insider Buying and Selling

In related news, insider Charles Collier sold 7,181 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $75.00, for a total value of $538,575.00. Following the sale, the insider owned 10,970 shares of the company's stock, valued at $822,750. This trade represents a 39.56% 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, CAO Matthew C. Banks sold 629 shares of Roku stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $72.98, for a total transaction of $45,904.42. Following the completion of the transaction, the chief accounting officer owned 8,555 shares of the company's stock, valued at $624,343.90. This represents a 6.85% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 64,020 shares of company stock worth $4,979,594 over the last 90 days. 13.98% of the stock is owned by insiders.

Roku Stock Up 1.9%

NASDAQ ROKU traded up $1.64 during trading on Thursday, hitting $90.27. The stock had a trading volume of 3,042,035 shares, compared to its average volume of 3,840,539. The company has a market capitalization of $13.17 billion, a PE ratio of -123.66 and a beta of 2.12. The firm has a 50 day moving average price of $75.78 and a 200 day moving average price of $75.51. Roku, Inc. has a twelve month low of $48.33 and a twelve month high of $104.96.

Roku (NASDAQ:ROKU - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.08. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. Roku had a negative return on equity of 4.29% and a negative net margin of 2.49%. Roku's revenue was up 15.8% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.35) EPS. On average, sell-side analysts anticipate that Roku, Inc. will post -0.3 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Citigroup restated a "neutral" rating and issued a $84.00 price objective (up previously from $68.00) on shares of Roku in a report on Wednesday, June 18th. Loop Capital upgraded Roku from a "hold" rating to a "buy" rating and lifted their price target for the stock from $80.00 to $100.00 in a report on Tuesday, June 17th. JMP Securities reiterated a "market outperform" rating and set a $95.00 price target on shares of Roku in a report on Tuesday, June 17th. Pivotal Research reduced their price target on Roku from $125.00 to $100.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Finally, FBN Securities initiated coverage on Roku in a report on Friday, March 28th. They set an "outperform" rating and a $93.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Roku has an average rating of "Moderate Buy" and an average target price of $92.67.

Roku Company 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.