49 Wealth Management LLC Invests $362,000 in Roku, Inc. (NASDAQ:ROKU)

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

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. FMR LLC boosted its position in shares of Roku by 31.7% during the 4th quarter. FMR LLC now owns 19,183,942 shares of the company's stock valued at $1,426,134,000 after purchasing an additional 4,613,570 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Roku by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 12,249,091 shares of the company's stock worth $910,597,000 after buying an additional 185,676 shares during the period. Marshall Wace LLP boosted its holdings in shares of Roku by 663.9% in the fourth quarter. Marshall Wace LLP now owns 2,335,813 shares of the company's stock worth $173,644,000 after buying an additional 2,030,036 shares during the period. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Roku by 10.5% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,269,751 shares of the company's stock worth $168,734,000 after buying an additional 215,841 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Roku by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 2,147,259 shares of the company's stock worth $159,353,000 after buying an additional 56,820 shares during the period. Institutional investors own 86.30% of the company's stock.

Insiders Place Their Bets

In other Roku news, CAO Matthew C. Banks sold 629 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $72.98, for a total value of $45,904.42. Following the sale, the chief accounting officer owned 8,555 shares in the company, valued at approximately $624,343.90. The trade was a 6.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Charles Collier sold 7,181 shares of the business'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 completion of the sale, the insider owned 10,970 shares in the company, valued at $822,750. The trade was a 39.56% decrease in their position. The disclosure for this sale can be found here. Insiders sold 64,020 shares of company stock worth $4,979,594 in the last three months. 13.98% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on ROKU. Wedbush reiterated an "outperform" rating and issued a $100.00 target price on shares of Roku in a report on Monday, June 16th. JMP Securities reaffirmed a "market outperform" rating and set a $95.00 price objective on shares of Roku in a research report on Tuesday, June 17th. Redburn Atlantic raised shares of Roku from a "neutral" rating to a "buy" rating and set a $100.00 price objective on the stock in a research report on Monday, April 7th. Piper Sandler assumed coverage on shares of Roku in a report on Thursday, April 17th. They issued a "neutral" rating and a $65.00 target price on the stock. Finally, Evercore ISI lowered their price objective on shares of Roku from $105.00 to $80.00 and set an "in-line" rating on the stock in a research note on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Roku currently has a consensus rating of "Moderate Buy" and an average target price of $90.87.

Roku Stock Performance

NASDAQ:ROKU traded up $0.49 on Wednesday, hitting $88.63. 1,915,901 shares of the stock were exchanged, compared to its average volume of 3,843,722. The stock has a market capitalization of $12.93 billion, a price-to-earnings ratio of -121.41 and a beta of 2.12. Roku, Inc. has a 52 week low of $48.33 and a 52 week high of $104.96. The company's 50-day moving average price is $75.78 and its 200 day moving average price is $75.51.

Roku (NASDAQ:ROKU - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the company earned ($0.35) EPS. The company's revenue for the quarter was up 15.8% compared to the same quarter last year. As a group, equities research analysts predict that Roku, Inc. will post -0.3 earnings per share for the current year.

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.