Envestnet Asset Management Inc. Buys 19,889 Shares of Roku, Inc. (NASDAQ:ROKU)

Envestnet Asset Management Inc. grew its position in shares of Roku, Inc. (NASDAQ:ROKU - Free Report) by 12.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 175,250 shares of the company's stock after purchasing an additional 19,889 shares during the quarter. Envestnet Asset Management Inc. owned 0.12% of Roku worth $12,345,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Jacobs Levy Equity Management Inc. increased its position in shares of Roku by 505.3% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,296,774 shares of the company's stock valued at $96,402,000 after purchasing an additional 1,082,548 shares during the period. Geode Capital Management LLC grew its holdings in shares of Roku by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 2,147,259 shares of the company's stock worth $159,353,000 after acquiring an additional 56,820 shares during the last quarter. Lecap Asset Management Ltd. acquired a new position in shares of Roku in the 1st quarter worth $511,000. J. Goldman & Co LP grew its holdings in shares of Roku by 973.1% in the 4th quarter. J. Goldman & Co LP now owns 354,326 shares of the company's stock worth $26,341,000 after acquiring an additional 321,307 shares during the last quarter. Finally, Allstate Corp acquired a new position in shares of Roku in the 4th quarter worth $275,000. 86.30% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Charles Collier sold 7,181 shares of the business's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $75.00, for a total transaction of $538,575.00. Following the transaction, the insider directly owned 10,970 shares in the company, valued at $822,750. The trade was a 39.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Anthony J. Wood sold 25,000 shares of the business's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $89.64, for a total value of $2,241,000.00. Following the transaction, the chief executive officer owned 11,953 shares in the company, valued at $1,071,466.92. This represents a 67.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 96,520 shares of company stock worth $7,898,294 over the last quarter. 13.98% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Loop Capital upgraded Roku from a "hold" rating to a "buy" rating and lifted their target price for the stock from $80.00 to $100.00 in a report on Tuesday, June 17th. Guggenheim restated a "buy" rating and issued a $100.00 target price on shares of Roku in a report on Friday, May 2nd. Redburn Atlantic upgraded 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. Wedbush reiterated an "outperform" rating and set a $100.00 price target on shares of Roku in a report on Monday, June 16th. Finally, KeyCorp upgraded Roku from a "sector weight" rating to an "overweight" rating and set a $115.00 price target on the stock in a report on Thursday, July 10th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $93.92.

Roku Stock Down 2.0%

Shares of NASDAQ:ROKU traded down $1.81 on Tuesday, reaching $89.88. The company had a trading volume of 1,647,477 shares, compared to its average volume of 3,810,815. Roku, Inc. has a twelve month low of $48.33 and a twelve month high of $104.96. The stock has a 50-day moving average price of $80.28 and a 200 day moving average price of $76.26. The stock has a market capitalization of $13.12 billion, a P/E ratio of -123.05 and a beta of 2.12.

Roku (NASDAQ:ROKU - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported ($0.19) earnings per share for the quarter, topping analysts' consensus estimates of ($0.27) by $0.08. Roku had a negative return on equity of 4.29% and a negative net margin of 2.49%. The company had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $1.01 billion. During the same quarter in the previous year, the firm earned ($0.35) earnings per share. The business's quarterly revenue was up 15.8% compared to the same quarter last year. On average, sell-side 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.