Cerity Partners LLC Has $2.21 Million Stake in Roku, Inc. (NASDAQ:ROKU)

Cerity Partners LLC boosted its stake in shares of Roku, Inc. (NASDAQ:ROKU - Free Report) by 17.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,400 shares of the company's stock after acquiring an additional 4,721 shares during the quarter. Cerity Partners LLC's holdings in Roku were worth $2,212,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Garde Capital Inc. purchased a new position in shares of Roku during the 1st quarter worth $25,000. Golden State Wealth Management LLC boosted its holdings in Roku by 125.4% during the 1st quarter. Golden State Wealth Management LLC now owns 444 shares of the company's stock valued at $31,000 after acquiring an additional 247 shares during the period. Princeton Global Asset Management LLC purchased a new position in Roku during the 1st quarter valued at about $35,000. First PREMIER Bank purchased a new position in Roku during the 1st quarter valued at about $35,000. Finally, Harvest Fund Management Co. Ltd raised its position 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. 86.30% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Roku

In other Roku news, CAO Matthew C. Banks sold 629 shares of the firm'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 completion of the sale, the chief accounting officer owned 8,555 shares in the company, valued at approximately $624,343.90. This trade represents a 6.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Dan Jedda sold 3,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $90.20, for a total value of $270,600.00. Following the transaction, the chief financial officer owned 76,132 shares of the company's stock, valued at $6,867,106.40. This trade represents a 3.79% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 96,520 shares of company stock valued at $7,898,294 over the last 90 days. 13.98% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ROKU has been the subject of several recent analyst reports. Wedbush restated an "outperform" rating and set a $100.00 target price on shares of Roku in a research note on Monday, June 16th. Redburn Atlantic raised shares of Roku from a "neutral" rating to a "buy" rating and set a $100.00 target price on the stock in a report on Monday, April 7th. JPMorgan Chase & Co. lifted their target price on shares of Roku from $85.00 to $100.00 and gave the company an "overweight" rating in a report on Friday. UBS Group dropped their target price on Roku from $90.00 to $72.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. Finally, Pivotal Research dropped their target price on Roku from $125.00 to $100.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $93.92.

Roku Price Performance

Shares of ROKU stock traded down $2.07 during trading hours on Tuesday, reaching $89.62. 1,745,369 shares of the stock were exchanged, compared to its average volume of 3,811,157. The business's fifty day moving average is $80.28 and its two-hundred day moving average is $76.26. Roku, Inc. has a 12-month low of $48.33 and a 12-month high of $104.96. The firm has a market capitalization of $13.08 billion, a P/E ratio of -122.74 and a beta of 2.12.

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 analysts' consensus estimates of ($0.27) by $0.08. The firm had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $1.01 billion. Roku had a negative return on equity of 4.29% and a negative net margin of 2.49%. The firm's quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter last year, the business posted ($0.35) EPS. As a group, equities research analysts predict that Roku, Inc. will post -0.3 earnings per share for the current fiscal 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.