Allspring Global Investments Holdings LLC Raises Stock Position in Roku, Inc. (NASDAQ:ROKU)

Allspring Global Investments Holdings LLC increased its stake in Roku, Inc. (NASDAQ:ROKU - Free Report) by 4,720.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 163,545 shares of the company's stock after acquiring an additional 160,152 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.11% of Roku worth $11,546,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC acquired a new stake in Roku during the 4th quarter worth $218,000. Oppenheimer & Co. Inc. acquired a new stake in Roku during the 4th quarter worth $201,000. QRG Capital Management Inc. boosted its stake in Roku by 8.9% during the 4th quarter. QRG Capital Management Inc. now owns 3,122 shares of the company's stock worth $232,000 after purchasing an additional 254 shares during the last quarter. US Bancorp DE raised its holdings in shares of Roku by 55.8% during the 4th quarter. US Bancorp DE now owns 4,813 shares of the company's stock worth $358,000 after acquiring an additional 1,723 shares during the period. Finally, Smartleaf Asset Management LLC raised its holdings in shares of Roku by 47.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 785 shares of the company's stock worth $59,000 after acquiring an additional 251 shares during the period. Hedge funds and other institutional investors own 86.30% of the company's stock.

Wall Street Analyst Weigh In

ROKU has been the topic of several analyst reports. Needham & Company LLC reiterated a "buy" rating and set a $88.50 price target on shares of Roku in a report on Tuesday, June 17th. Rosenblatt Securities reduced their price target on Roku from $100.00 to $75.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Compass Point initiated coverage on Roku in a report on Sunday, March 23rd. They set a "buy" rating on the stock. Citigroup reiterated a "neutral" rating and set a $84.00 price target (up previously from $68.00) on shares of Roku in a report on Wednesday, June 18th. Finally, Guggenheim restated a "buy" rating and issued a $100.00 price objective on shares of Roku in a report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $90.37.

Roku Stock Performance

NASDAQ:ROKU opened at $88.12 on Friday. The stock has a market capitalization of $12.86 billion, a price-to-earnings ratio of -120.72 and a beta of 2.12. Roku, Inc. has a 1 year low of $48.33 and a 1 year high of $104.96. The stock has a fifty day moving average price of $74.15 and a two-hundred day moving average price of $75.29.

Roku (NASDAQ:ROKU - Get Free Report) last posted 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 for the quarter, compared to analyst estimates 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 quarter in the prior year, the company earned ($0.35) earnings per share. On average, analysts predict that Roku, Inc. will post -0.3 EPS for the current year.

Insider Activity

In related news, CFO Dan Jedda sold 1,500 shares of the stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $81.32, for a total transaction of $121,980.00. Following the transaction, the chief financial officer directly owned 80,632 shares in the company, valued at approximately $6,556,994.24. This represents a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of the firm's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $75.00, for a total value of $1,875,000.00. Following the completion of the transaction, the chief executive officer owned 6,243 shares in the company, valued at approximately $468,225. This trade represents a 80.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 64,020 shares of company stock valued at $4,979,594 in the last three months. Company insiders own 13.98% of the company's stock.

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.

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