IQ EQ FUND MANAGEMENT IRELAND Ltd Grows Holdings in Roku, Inc. (NASDAQ:ROKU)

Key Points

• IQ EQ FUND MANAGEMENT IRELAND Ltd increased its holdings in Roku, Inc. by 29.7%, now owning 40,579 shares, valued at approximately $2.86 million.
• Equities analysts have updated their target prices for Roku, with Wedbush increasing theirs from $100.00 to $110.00 and an average target price of $99.36 based on recent ratings.
• Roku's CEO, Anthony J. Wood, sold 25,000 shares of the company at an average price of $89.64, resulting in a 67.65% decrease in his ownership of the stock.

IQ EQ FUND MANAGEMENT IRELAND Ltd raised its stake in Roku, Inc. (NASDAQ:ROKU - Free Report) by 29.7% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 40,579 shares of the company's stock after purchasing an additional 9,290 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd's holdings in Roku were worth $2,858,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of ROKU. Garde Capital Inc. bought a new stake in shares of Roku in the 1st quarter worth about $25,000. Golden State Wealth Management LLC increased its position in shares of Roku by 125.4% in the 1st quarter. Golden State Wealth Management LLC now owns 444 shares of the company's stock worth $31,000 after purchasing an additional 247 shares during the last quarter. Princeton Global Asset Management LLC bought a new stake in shares of Roku in the 1st quarter worth about $35,000. First PREMIER Bank bought a new stake in shares of Roku in the 1st quarter worth about $35,000. Finally, Fourth Dimension Wealth LLC bought a new stake in shares of Roku in the 4th quarter worth about $41,000. Institutional investors own 86.30% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Wedbush boosted their target price on shares of Roku from $100.00 to $110.00 and gave the stock an "outperform" rating in a research report on Monday, July 28th. Citigroup reissued a "neutral" rating and issued a $84.00 target price (up previously from $68.00) on shares of Roku in a research report on Wednesday, June 18th. Piper Sandler boosted their target price on shares of Roku from $65.00 to $84.00 and gave the stock a "neutral" rating in a research report on Thursday, July 10th. Loop Capital raised shares of Roku from a "hold" rating to a "buy" rating and boosted their price objective for the company from $80.00 to $100.00 in a research report on Tuesday, June 17th. Finally, Guggenheim increased their price objective on shares of Roku from $100.00 to $105.00 and gave the stock a "buy" rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $99.36.

Insider Activity at Roku

In other news, CEO Anthony J. Wood sold 25,000 shares of the company's stock in a transaction that occurred on 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 completion of the sale, the chief executive officer directly owned 11,953 shares of the company's stock, valued at approximately $1,071,466.92. This represents a 67.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mai Fyfield sold 914 shares of the company's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $78.50, for a total transaction of $71,749.00. Following the completion of the sale, the director directly owned 4,374 shares of the company's stock, valued at approximately $343,359. This represents a 17.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 308,873 shares of company stock valued at $28,076,913. 13.98% of the stock is currently owned by insiders.

Roku Trading Down 15.1%

NASDAQ ROKU opened at $79.98 on Monday. Roku, Inc. has a 52 week low of $48.33 and a 52 week high of $104.96. The stock has a market cap of $11.67 billion, a price-to-earnings ratio of -190.43 and a beta of 2.05. The company has a 50-day moving average price of $83.77 and a two-hundred day moving average price of $76.98.

Roku (NASDAQ:ROKU - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.07 earnings per share for the quarter, topping analysts' consensus estimates of ($0.16) by $0.23. The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.07 billion. Roku had a negative net margin of 1.40% and a negative return on equity of 2.47%. The business's revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.18) EPS. As a group, equities research analysts expect that Roku, Inc. will post -0.3 earnings per share for the current fiscal year.

Roku Company 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.

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