Central Pacific Bank Trust Division Takes Position in Roku, Inc. (NASDAQ:ROKU)

Central Pacific Bank Trust Division purchased a new position in shares of Roku, Inc. (NASDAQ:ROKU - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 6,660 shares of the company's stock, valued at approximately $469,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. raised its holdings in Roku by 369.9% in the 4th quarter. Geneos Wealth Management Inc. now owns 343 shares of the company's stock valued at $25,000 after acquiring an additional 270 shares during the last quarter. Vision Financial Markets LLC acquired a new stake in Roku during the fourth quarter valued at approximately $30,000. Game Plan Financial Advisors LLC acquired a new stake in Roku during the fourth quarter valued at approximately $37,000. Harvest Fund Management Co. Ltd raised its position in shares of Roku by 4,091.7% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 503 shares of the company's stock worth $37,000 after purchasing an additional 491 shares during the period. Finally, Allianz SE acquired a new stake in shares of Roku during the 4th quarter worth approximately $39,000. Institutional investors and hedge funds own 86.30% of the company's stock.

Insider Buying and Selling

In other Roku news, CEO Anthony J. Wood sold 25,000 shares of the business's stock in a transaction dated Thursday, May 29th. The shares were 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 now directly owns 6,243 shares in the company, valued at approximately $468,225. The trade was a 80.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Dan Jedda sold 1,000 shares of the business's stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $75.00, for a total transaction of $75,000.00. Following the completion of the transaction, the chief financial officer now owns 68,843 shares of the company's stock, valued at $5,163,225. This represents a 1.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 31,013 shares of company stock valued at $2,324,135 over the last three months. 13.98% of the stock is owned by company insiders.

Roku Trading Up 0.5%

NASDAQ ROKU traded up $0.37 on Tuesday, reaching $73.38. 1,049,479 shares of the stock were exchanged, compared to its average volume of 3,795,247. The firm has a market capitalization of $10.71 billion, a PE ratio of -82.45 and a beta of 2.06. Roku, Inc. has a one year low of $48.33 and a one year high of $104.96. The company's 50-day simple moving average is $65.41 and its two-hundred day simple moving average is $74.42.

Roku (NASDAQ:ROKU - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.08. The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. Roku's quarterly revenue was up 15.8% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.35) earnings per share. Sell-side analysts forecast that Roku, Inc. will post -0.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on ROKU. UBS Group lowered their target price on Roku from $90.00 to $72.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Wells Fargo & Company cut their price objective on Roku from $129.00 to $93.00 and set an "overweight" rating for the company in a report on Monday, April 28th. Compass Point began coverage on Roku in a report on Sunday, March 23rd. They set a "buy" rating on the stock. Bank of America initiated coverage on Roku in a research report on Thursday, March 27th. They issued a "buy" rating and a $100.00 price target on the stock. Finally, Pivotal Research decreased their target price on Roku from $125.00 to $100.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $88.37.

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.