Cresset Asset Management LLC Acquires 3,789 Shares of Roku, Inc. $ROKU

Key Points

• Cresset Asset Management LLC increased its stake in Roku, Inc. by 98.4%, acquiring an additional 3,789 shares, bringing their total holdings to 7,641 shares worth $538,000.
• Wall Street analysts have raised their target prices for Roku, with JPMorgan Chase increasing it to $105.00, implying a positive outlook for the stock performance.
• Roku's recent quarterly earnings report exceeded expectations, with earnings per share of $0.07 and revenue of $1.11 billion, up 14.7% year-over-year.

Cresset Asset Management LLC lifted its position in Roku, Inc. (NASDAQ:ROKU - Free Report) by 98.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,641 shares of the company's stock after acquiring an additional 3,789 shares during the quarter. Cresset Asset Management LLC's holdings in Roku were worth $538,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Thompson Davis & CO. Inc. acquired a new position in Roku in the 1st quarter worth approximately $222,000. American Century Companies Inc. boosted its stake in Roku by 6.1% in the 1st quarter. American Century Companies Inc. now owns 52,617 shares of the company's stock worth $3,706,000 after purchasing an additional 3,024 shares during the period. Fox Run Management L.L.C. boosted its stake in Roku by 40.3% in the 1st quarter. Fox Run Management L.L.C. now owns 25,261 shares of the company's stock worth $1,779,000 after purchasing an additional 7,251 shares during the period. Neuberger Berman Group LLC boosted its stake in Roku by 3.8% in the 1st quarter. Neuberger Berman Group LLC now owns 5,737 shares of the company's stock worth $404,000 after purchasing an additional 208 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in Roku by 79.8% in the 1st quarter. Russell Investments Group Ltd. now owns 476,521 shares of the company's stock worth $33,895,000 after purchasing an additional 211,459 shares during the period. Institutional investors and hedge funds own 86.30% of the company's stock.

Roku Price Performance

NASDAQ:ROKU traded up $3.61 during trading hours on Friday, hitting $94.22. 4,121,229 shares of the company traded hands, compared to its average volume of 4,845,421. Roku, Inc. has a twelve month low of $52.43 and a twelve month high of $104.96. The firm has a 50-day moving average of $87.45 and a 200 day moving average of $77.66.

Roku (NASDAQ:ROKU - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.07 EPS for the quarter, beating the consensus estimate of ($0.16) by $0.23. The firm had revenue of $1.11 billion during the quarter, compared to analysts' expectations of $1.07 billion. Roku had a negative net margin of 1.40% and a negative return on equity of 2.44%. The business's quarterly revenue was up 14.7% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.18) EPS. Roku has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. Analysts anticipate that Roku, Inc. will post -0.3 earnings per share for the current year.

Analyst Ratings Changes

ROKU has been the topic of a number of research analyst reports. Benchmark reaffirmed a "buy" rating and set a $130.00 price objective on shares of Roku in a research report on Friday, May 2nd. Guggenheim boosted their price objective on shares of Roku from $100.00 to $105.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Susquehanna boosted their price objective on shares of Roku from $85.00 to $110.00 and gave the company a "positive" rating in a research report on Friday, August 1st. JPMorgan Chase & Co. boosted their price objective on shares of Roku from $100.00 to $105.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Finally, UBS Group boosted their price objective on shares of Roku from $72.00 to $95.00 and gave the company a "neutral" rating in a research report on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $98.96.

Insider Activity

In other news, CAO Matthew C. Banks sold 3,360 shares of Roku stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $85.05, for a total value of $285,768.00. Following the sale, the chief accounting officer directly owned 5,195 shares in the company, valued at $441,834.75. This trade represents a 39.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Charles Collier sold 212,559 shares of the firm's stock in a transaction on Monday, July 21st. The shares were sold at an average price of $95.00, for a total transaction of $20,193,105.00. Following the completion of the transaction, the insider directly owned 200 shares of the company's stock, valued at $19,000. This represents a 99.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 340,233 shares of company stock valued at $30,690,391. Insiders own 13.98% of the company's stock.

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.