Roku, Inc. (NASDAQ:ROKU) Stake Increased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. boosted its position in shares of Roku, Inc. (NASDAQ:ROKU - Free Report) by 12.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 175,250 shares of the company's stock after purchasing an additional 19,889 shares during the period. Envestnet Asset Management Inc. owned approximately 0.12% of Roku worth $12,345,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Concurrent Investment Advisors LLC raised its stake in Roku by 18.8% during the first quarter. Concurrent Investment Advisors LLC now owns 5,068 shares of the company's stock worth $357,000 after purchasing an additional 801 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Roku by 0.9% in the 1st quarter. Bank of New York Mellon Corp now owns 510,934 shares of the company's stock valued at $35,990,000 after acquiring an additional 4,617 shares during the period. IFM Investors Pty Ltd raised its stake in shares of Roku by 7.6% in the 1st quarter. IFM Investors Pty Ltd now owns 24,440 shares of the company's stock valued at $1,825,000 after acquiring an additional 1,736 shares during the period. Teacher Retirement System of Texas purchased a new stake in shares of Roku in the 1st quarter valued at approximately $4,965,000. Finally, Summit Trail Advisors LLC raised its stake in shares of Roku by 65.0% in the 1st quarter. Summit Trail Advisors LLC now owns 12,388 shares of the company's stock valued at $873,000 after acquiring an additional 4,879 shares during the period. 86.30% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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

Roku Trading Up 0.8%

Shares of ROKU traded up $0.70 during trading hours on Wednesday, reaching $90.25. The company had a trading volume of 2,448,413 shares, compared to its average volume of 3,820,799. The firm has a 50 day simple moving average of $81.01 and a 200-day simple moving average of $76.45. The company has a market capitalization of $13.17 billion, a price-to-earnings ratio of -123.63 and a beta of 2.12. Roku, Inc. has a 12-month low of $48.33 and a 12-month high of $104.96.

Roku (NASDAQ:ROKU - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported ($0.19) earnings per share 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 firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period last year, the firm posted ($0.35) EPS. The firm's revenue for the quarter was up 15.8% on a year-over-year basis. Sell-side analysts forecast that Roku, Inc. will post -0.3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on ROKU shares. Bank of America boosted their price target on shares of Roku from $100.00 to $110.00 and gave the company a "buy" rating in a research note on Thursday, July 3rd. JPMorgan Chase & Co. boosted their price target on shares of Roku from $85.00 to $100.00 and gave the company an "overweight" rating in a research note on Friday, July 18th. Pivotal Research reduced their price target on shares of Roku from $125.00 to $100.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Rosenblatt Securities reduced their price target on shares of Roku from $100.00 to $75.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. Finally, Wedbush reissued an "outperform" rating and issued a $100.00 price target on shares of Roku in a research note on Monday, June 16th. One investment 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. Based on data from MarketBeat.com, the company has an average 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.