Bank of New York Mellon Corp Makes New $105.22 Million Investment in Roku, Inc. $ROKU

Bank of New York Mellon Corp bought a new stake in Roku, Inc. (NASDAQ:ROKU - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 761,663 shares of the company's stock, valued at approximately $105,216,000. Bank of New York Mellon Corp owned approximately 0.52% of Roku as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of ROKU. Jefferies Financial Group Inc. bought a new position in Roku during the fourth quarter valued at $1,345,000. Moran Wealth Management LLC bought a new stake in shares of Roku in the first quarter valued at $2,990,000. Contravisory Investment Management Inc. purchased a new position in shares of Roku during the 2nd quarter valued at $1,184,000. California Public Employees Retirement System lifted its position in shares of Roku by 14.8% during the 1st quarter. California Public Employees Retirement System now owns 260,774 shares of the company's stock valued at $24,674,000 after buying an additional 33,593 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its position in shares of Roku by 31.6% during the 1st quarter. Lazard Asset Management LLC now owns 96,204 shares of the company's stock valued at $9,103,000 after buying an additional 23,092 shares during the last quarter. Hedge funds and other institutional investors own 86.30% of the company's stock.

Insider Activity

In related news, CAO Matthew C. Banks sold 552 shares of the company's stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $146.25, for a total value of $80,730.00. Following the transaction, the chief accounting officer directly owned 6,619 shares in the company, valued at approximately $968,028.75. This represents a 7.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Neil D. Hunt sold 2,000 shares of the firm's stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $146.25, for a total transaction of $292,500.00. Following the completion of the sale, the director directly owned 9,629 shares in the company, valued at $1,408,241.25. This represents a 17.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 162,452 shares of company stock worth $22,052,982. Company insiders own 13.45% of the company's stock.

Roku Trading Up 0.4%

ROKU stock opened at $158.18 on Tuesday. The firm has a 50 day moving average of $144.80 and a 200-day moving average of $120.57. Roku, Inc. has a 12 month low of $78.53 and a 12 month high of $159.69. The firm has a market capitalization of $23.48 billion, a P/E ratio of 67.60 and a beta of 2.01.

Roku (NASDAQ:ROKU - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $1.08 EPS for the quarter, beating the consensus estimate of $0.61 by $0.47. The company had revenue of $1.35 billion during the quarter, compared to analysts' expectations of $1.30 billion. Roku had a net margin of 6.82% and a return on equity of 13.73%. Roku's revenue for the quarter was up 21.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.07 earnings per share. Sell-side analysts predict that Roku, Inc. will post 2.82 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ROKU shares. UBS Group lifted their price objective on Roku from $126.00 to $172.00 and gave the stock a "neutral" rating in a report on Friday, August 7th. Citigroup upped their price objective on shares of Roku from $120.00 to $157.00 and gave the company a "neutral" rating in a report on Friday, July 17th. William Blair lowered shares of Roku from an "outperform" rating to a "market perform" rating in a research report on Monday, June 15th. Fox Advisors set a $157.00 target price on shares of Roku in a research report on Friday, July 17th. Finally, Needham & Company LLC reiterated a "buy" rating on shares of Roku in a research note on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and nineteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $156.17.

Roku Profile

Roku, Inc NASDAQ: ROKU is a technology company that develops and operates a proprietary streaming platform designed to deliver entertainment content to consumers via internet-connected devices and smart televisions. Since its inception in 2002 in California, Roku has focused on simplifying access to streaming services for viewers worldwide. The company's platform enables users to discover, access and manage a wide array of over-the-top content from major streaming services, free ad-supported channels and niche providers.

At the core of Roku's product lineup are a range of streaming players and sticks, which connect to televisions via HDMI and deliver the Roku OS experience.

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