Cetera Investment Advisers Has $5.65 Million Holdings in Roku, Inc. $ROKU

Key Points

• Cetera Investment Advisers increased its Roku stake by 14.1% in the first quarter, ending with 59,733 shares valued at approximately $5.65 million. Institutional investors and hedge funds own 86.3% of Roku’s outstanding shares.
• Roku reported quarterly revenue of $1.25 billion, up 22.4% year over year, and earnings of $0.57 per share, exceeding analysts’ $0.34 estimate. The stock opened at $145.01, near its 52-week high of $148.88.
• Analyst sentiment remains mixed, with ten Buy ratings and seventeen Hold ratings, producing an average rating of “Hold” and an average price target of $155.12. Roku insiders have sold 203,643 shares worth roughly $26.5 million over the past three months.

Cetera Investment Advisers raised its position in shares of Roku, Inc. (NASDAQ:ROKU - Free Report) by 14.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 59,733 shares of the company's stock after buying an additional 7,402 shares during the period. Cetera Investment Advisers' holdings in Roku were worth $5,652,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Empowered Funds LLC boosted its stake in Roku by 18.6% in the first quarter. Empowered Funds LLC now owns 3,291 shares of the company's stock worth $232,000 after purchasing an additional 515 shares in the last quarter. Focus Partners Wealth bought a new stake in Roku during the 1st quarter worth about $229,000. EverSource Wealth Advisors LLC increased its position in Roku by 145.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,394 shares of the company's stock valued at $123,000 after acquiring an additional 826 shares in the last quarter. First Trust Advisors LP increased its position in Roku by 231.0% in the 2nd quarter. First Trust Advisors LP now owns 70,786 shares of the company's stock valued at $6,221,000 after acquiring an additional 49,399 shares in the last quarter. Finally, Brown Advisory Inc. acquired a new position in shares of Roku during the second quarter worth approximately $326,000. 86.30% of the stock is owned by institutional investors and hedge funds.

Roku Stock Performance

NASDAQ:ROKU opened at $145.01 on Monday. Roku, Inc. has a 1 year low of $78.53 and a 1 year high of $148.88. The stock has a 50-day moving average price of $136.45 and a two-hundred day moving average price of $114.88. The stock has a market cap of $21.38 billion, a price-to-earnings ratio of 109.03 and a beta of 2.01.

Roku (NASDAQ:ROKU - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The company reported $0.57 EPS for the quarter, topping analysts' consensus estimates of $0.34 by $0.23. Roku had a return on equity of 7.64% and a net margin of 4.06%.The company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter last year, the firm posted ($0.19) earnings per share. Roku's revenue was up 22.4% compared to the same quarter last year. Sell-side analysts forecast that Roku, Inc. will post 2.41 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Anthony J. Wood sold 75,000 shares of the company's stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $128.79, for a total transaction of $9,659,250.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Dan Jedda sold 7,000 shares of the stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $122.56, for a total value of $857,920.00. Following the transaction, the chief financial officer owned 71,115 shares of the company's stock, valued at approximately $8,715,854.40. The trade was a 8.96% 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. Over the last three months, insiders have sold 203,643 shares of company stock valued at $26,492,192. 13.45% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ROKU has been the subject of a number of research reports. Benchmark raised their price target on shares of Roku from $130.00 to $160.00 and gave the company a "buy" rating in a report on Friday, May 1st. UBS Group set a $160.00 price objective on Roku in a research report on Monday, June 15th. JPMorgan Chase & Co. reissued a "neutral" rating and set a $160.00 price objective (up from $150.00) on shares of Roku in a report on Tuesday, June 16th. Jefferies Financial Group lowered shares of Roku from a "buy" rating to a "hold" rating and set a $160.00 target price on the stock. in a research note on Monday, June 15th. Finally, Pivotal Research reiterated a "buy" rating and set a $160.00 target price (up from $140.00) on shares of Roku in a research report on Friday, May 1st. Ten analysts have rated the stock with a Buy rating and seventeen have given a Hold rating to the stock. Based on data from MarketBeat.com, Roku currently has an average rating of "Hold" and an average price target of $155.12.

Roku Company 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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