Kestra Private Wealth Services LLC Takes Position in Roku, Inc. (NASDAQ:ROKU)

Key Points

• Kestra Private Wealth Services LLC invested approximately $506,000 to acquire 7,188 shares of Roku, Inc. in the 1st quarter, reflecting growing interest from institutional investors.
• Analyst opinions are mixed regarding Roku, with target prices ranging from $75.00 to $130.00; the consensus rating is a "Moderate Buy."
• Recent insider trades indicate significant selling, with executives like Charles Collier selling over 212,000 shares, indicating potential concern over stock performance.

Kestra Private Wealth Services LLC bought a new position in Roku, Inc. (NASDAQ:ROKU - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 7,188 shares of the company's stock, valued at approximately $506,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. FMR LLC increased its position in shares of Roku by 31.7% during the 4th quarter. FMR LLC now owns 19,183,942 shares of the company's stock valued at $1,426,134,000 after purchasing an additional 4,613,570 shares during the last quarter. Marshall Wace LLP increased its position in shares of Roku by 663.9% during the 4th quarter. Marshall Wace LLP now owns 2,335,813 shares of the company's stock valued at $173,644,000 after purchasing an additional 2,030,036 shares during the last quarter. Cadian Capital Management LP purchased a new stake in shares of Roku during the 4th quarter valued at about $87,632,000. 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 last quarter. Finally, Two Sigma Investments LP increased its position in shares of Roku by 149.8% during the 4th quarter. Two Sigma Investments LP now owns 1,210,879 shares of the company's stock valued at $90,017,000 after purchasing an additional 726,077 shares during the last quarter. Institutional investors own 86.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on ROKU shares. Pivotal Research decreased their target price 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. Piper Sandler raised their target price on shares of Roku from $65.00 to $84.00 and gave the stock a "neutral" rating in a research note on Thursday, July 10th. Wall Street Zen upgraded Roku from a "hold" rating to a "buy" rating in a research note on Saturday. Evercore ISI dropped their price target on Roku from $105.00 to $80.00 and set an "in-line" rating for the company in a research note on Friday, May 2nd. Finally, Loop Capital upgraded Roku from a "hold" rating to a "buy" rating and upped their price target for the stock from $80.00 to $100.00 in a research note on Tuesday, June 17th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $93.92.

Insider Activity at Roku

In other news, insider Charles Collier sold 212,559 shares of Roku 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 sale, the insider directly owned 200 shares of the company's stock, valued at approximately $19,000. The trade was a 99.91% decrease in their position. The transaction 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 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 transaction of $2,241,000.00. Following the completion of the transaction, the chief executive officer owned 11,953 shares in the company, valued at $1,071,466.92. The trade was a 67.65% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 309,079 shares of company stock worth $28,091,399. Corporate insiders own 13.98% of the company's stock.

Roku Price Performance

Shares of NASDAQ:ROKU traded up $0.07 during midday trading on Friday, reaching $90.12. The company had a trading volume of 1,970,827 shares, compared to its average volume of 2,576,802. The business's 50 day moving average price is $81.78 and its 200 day moving average price is $76.60. Roku, Inc. has a 1-year low of $48.33 and a 1-year high of $104.96.

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