Edgestream Partners L.P. Sells 9,829 Shares of Roku, Inc. (NASDAQ:ROKU)

Edgestream Partners L.P. reduced its stake in Roku, Inc. (NASDAQ:ROKU - Free Report) by 49.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,017 shares of the company's stock after selling 9,829 shares during the period. Edgestream Partners L.P.'s holdings in Roku were worth $706,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Garde Capital Inc. acquired a new stake in shares of Roku during the 1st quarter worth approximately $25,000. Golden State Wealth Management LLC raised 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 bought a new stake in Roku during the 1st quarter valued at $35,000. First PREMIER Bank purchased a new position in shares of Roku during the first quarter worth about $35,000. Finally, Harvest Fund Management Co. Ltd grew its position in Roku by 4,091.7% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 503 shares of the company's stock worth $37,000 after acquiring an additional 491 shares in the last quarter. 86.30% of the stock is currently owned by institutional investors and hedge funds.

Roku Price Performance

ROKU stock traded up $0.70 during trading hours on Wednesday, reaching $90.25. The stock had a trading volume of 2,448,413 shares, compared to its average volume of 3,820,799. The stock has a 50-day simple moving average of $81.01 and a 200 day simple moving average of $76.45. Roku, Inc. has a fifty-two week low of $48.33 and a fifty-two week high of $104.96. The stock has a market capitalization of $13.17 billion, a PE ratio of -123.63 and a beta of 2.12.

Roku (NASDAQ:ROKU - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.08. Roku had a negative net margin of 2.49% and a negative return on equity of 4.29%. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter last year, the firm posted ($0.35) EPS. Roku's revenue was up 15.8% compared to the same quarter last year. On average, sell-side analysts forecast that Roku, Inc. will post -0.3 EPS for the current fiscal year.

Insider Activity

In related news, insider Charles Collier sold 212,559 shares of the stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $95.00, for a total value of $20,193,105.00. Following the completion of the transaction, the insider directly owned 200 shares in the company, valued at approximately $19,000. This represents a 99.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $89.64, for a total value of $2,241,000.00. Following the sale, the chief executive officer owned 11,953 shares in the company, valued at $1,071,466.92. This trade represents a 67.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 309,079 shares of company stock valued at $28,091,399 over the last ninety days. 13.98% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ROKU shares. Loop Capital upgraded shares of Roku from a "hold" rating to a "buy" rating and increased their target price for the stock from $80.00 to $100.00 in a report on Tuesday, June 17th. Citigroup reaffirmed a "neutral" rating and set a $84.00 price objective (up from $68.00) on shares of Roku in a research report on Wednesday, June 18th. KeyCorp raised shares of Roku from a "sector weight" rating to an "overweight" rating and set a $115.00 target price for the company in a research report on Thursday, July 10th. Benchmark reissued a "buy" rating and set a $130.00 price objective on shares of Roku in a research report on Friday, May 2nd. Finally, Rosenblatt Securities dropped their target price on shares of Roku from $100.00 to $75.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $93.92.

Roku Profile

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.