Comerica Bank Sells 346,056 Shares of Roku, Inc. $ROKU

Key Points

• Comerica Bank slashed its Roku stake by 99% in the fourth quarter, selling 346,056 shares and leaving just 3,342 shares valued at about $363,000.
• Roku reported better-than-expected quarterly results, posting EPS of $0.57 versus estimates of $0.34 and revenue of $1.25 billion, up 22.4% year over year.
• Analysts remain generally bullish on the stock, with 21 Buy ratings and an average price target of $143.42, while several insiders also recently sold shares.

Comerica Bank trimmed its holdings in Roku, Inc. (NASDAQ:ROKU - Free Report) by 99.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,342 shares of the company's stock after selling 346,056 shares during the period. Comerica Bank's holdings in Roku were worth $363,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in ROKU. Empowered Funds LLC lifted its stake in shares of 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 buying an additional 515 shares during the last quarter. Focus Partners Wealth acquired a new position in Roku in the 1st quarter valued at $229,000. EverSource Wealth Advisors LLC grew its stake 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 buying an additional 826 shares during the last quarter. First Trust Advisors LP raised its holdings in Roku by 231.0% in the 2nd quarter. First Trust Advisors LP now owns 70,786 shares of the company's stock worth $6,221,000 after acquiring an additional 49,399 shares during the period. Finally, Brown Advisory Inc. bought a new position in Roku in the 2nd quarter worth $326,000. 86.30% of the stock is owned by institutional investors.

Roku Price Performance

Shares of Roku stock opened at $125.68 on Thursday. The firm has a market capitalization of $18.53 billion, a PE ratio of 94.50 and a beta of 2.04. The company's fifty day moving average price is $105.34 and its two-hundred day moving average price is $102.38. Roku, Inc. has a 52-week low of $67.67 and a 52-week high of $131.39.

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

Insiders Place Their Bets

In other news, CAO Matthew C. Banks sold 725 shares of the company's stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $125.52, for a total value of $91,002.00. Following the sale, the chief accounting officer owned 6,222 shares of the company's stock, valued at approximately $780,985.44. This represents a 10.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Charles Collier sold 20,538 shares of the company's stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $124.23, for a total transaction of $2,551,435.74. Following the completion of the sale, the insider directly owned 7,700 shares in the company, valued at approximately $956,571. The trade was a 72.73% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 688,038 shares of company stock worth $76,076,295 in the last quarter. 13.45% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on ROKU. Rosenblatt Securities boosted their target price on shares of Roku from $118.00 to $150.00 and gave the stock a "buy" rating in a research report on Friday, May 1st. Guggenheim boosted their target price on shares of Roku from $130.00 to $140.00 and gave the stock a "buy" rating in a research report on Friday, May 1st. Morgan Stanley reissued an "overweight" rating and set a $150.00 target price on shares of Roku in a research report on Friday, May 1st. UBS Group reissued an "outperform" rating and set a $145.00 target price on shares of Roku in a research report on Friday, May 1st. Finally, Citigroup boosted their target price on shares of Roku from $100.00 to $120.00 and gave the stock a "neutral" rating in a research report on Monday, May 4th. Twenty-one research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Roku has an average rating of "Moderate Buy" and an average price target of $143.42.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.