New York Life Investment Management LLC Purchases Shares of 12,467 Roku, Inc. $ROKU

Key Points

• New York Life Investment Management initiated a new position in Roku during the fourth quarter, buying 12,467 shares valued at about $1.35 million.
• Several other institutional investors also increased their Roku holdings, and institutions now own 86.30% of the company’s stock, highlighting continued interest from large investors.
• Roku reported strong quarterly results, with EPS of $0.57 and revenue of $1.25 billion, both above estimates, while analysts maintain a Moderate Buy consensus and an average price target of $143.42.

New York Life Investment Management LLC purchased a new stake in Roku, Inc. (NASDAQ:ROKU - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 12,467 shares of the company's stock, valued at approximately $1,353,000.

A number of other large investors have also recently added to or reduced their stakes in the company. Apollon Wealth Management LLC lifted its stake in Roku by 1.5% in the fourth quarter. Apollon Wealth Management LLC now owns 6,450 shares of the company's stock valued at $700,000 after acquiring an additional 96 shares during the last quarter. Cornerstone Wealth Management LLC lifted its position in shares of Roku by 3.8% in the third quarter. Cornerstone Wealth Management LLC now owns 2,728 shares of the company's stock valued at $273,000 after buying an additional 100 shares during the last quarter. Thoroughbred Financial Services LLC lifted its position in shares of Roku by 1.0% in the third quarter. Thoroughbred Financial Services LLC now owns 9,945 shares of the company's stock valued at $995,000 after buying an additional 100 shares during the last quarter. Swiss Life Asset Management Ltd lifted its position in shares of Roku by 2.2% in the fourth quarter. Swiss Life Asset Management Ltd now owns 5,969 shares of the company's stock valued at $648,000 after buying an additional 127 shares during the last quarter. Finally, Larson Financial Group LLC lifted its position in shares of Roku by 32.1% in the third quarter. Larson Financial Group LLC now owns 556 shares of the company's stock valued at $56,000 after buying an additional 135 shares during the last quarter. Institutional investors and hedge funds own 86.30% of the company's stock.

Insider Buying and Selling at Roku

In other Roku news, insider Gilbert Fuchsberg sold 9,593 shares of Roku stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $125.52, for a total value of $1,204,113.36. Following the completion of the sale, the insider owned 50,863 shares in the company, valued at $6,384,323.76. The trade was a 15.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Matthew C. Banks sold 725 shares of Roku stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $125.52, for a total transaction of $91,002.00. Following the completion of the sale, the chief accounting officer owned 6,222 shares of the company's stock, valued at $780,985.44. This trade represents a 10.44% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 692,038 shares of company stock worth $76,667,575 in the last 90 days. Company insiders own 13.45% of the company's stock.

Roku Trading Down 2.9%

NASDAQ:ROKU opened at $120.58 on Wednesday. The stock has a market cap of $17.78 billion, a P/E ratio of 90.66 and a beta of 2.04. The stock has a 50 day simple moving average of $107.42 and a 200 day simple moving average of $103.10. Roku, Inc. has a 1-year low of $67.67 and a 1-year high of $131.39.

Roku (NASDAQ:ROKU - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.23. The business had revenue of $1.25 billion during the quarter, compared to analysts' expectations of $1.20 billion. Roku had a return on equity of 7.64% and a net margin of 4.06%.The firm's revenue for the quarter was up 22.4% compared to the same quarter last year. During the same period last year, the firm posted ($0.19) EPS. As a group, sell-side analysts forecast that Roku, Inc. will post 2.41 EPS for the current year.

Key Headlines Impacting Roku

Here are the key news stories impacting Roku this week:

• Positive Sentiment: Roku launched a new “Creators” hub and is adding creator-driven FAST channels, signaling a push to expand content discovery and attract more viewing time on its platform. Roku Doubling Down on Creators With Dedicated Destination and New FAST Channels (Exclusive)
• Positive Sentiment: Roku also secured exclusive streaming rights for the Enhanced Games, adding another live sports property to its platform and potentially strengthening its ad-supported viewing mix. Roku’s Exclusive Enhanced Games Deal Adds Fresh Angle To Valuation Story
• Positive Sentiment: Investor sentiment is improving as one article highlights a bullish options trade that seeks a quick 30% gain, reflecting expectations for continued upside momentum in ROKU shares. This Bullish Roku Trade Seeks A Quick 30% Profit
• Neutral Sentiment: Roku CEO/CFO insider selling was disclosed, but the sale was made under a pre-arranged Rule 10b5-1 plan, which makes it less informative as a near-term trading signal. Roku NASDAQ: ROKU CFO Sells $857,920.00 in Stock

Analyst Upgrades and Downgrades

ROKU has been the subject of a number of recent analyst reports. Guggenheim raised their price objective on Roku from $130.00 to $140.00 and gave the company a "buy" rating in a research report on Friday, May 1st. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Roku in a research report on Friday. Evercore reaffirmed an "outperform" rating and set a $150.00 target price on shares of Roku in a report on Friday, February 13th. Rosenblatt Securities lifted their target price on shares of Roku from $118.00 to $150.00 and gave the stock a "buy" rating in a report on Friday, May 1st. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $150.00 target price on shares of Roku in a report on Friday, May 1st. Twenty-one investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $143.42.

Roku Profile

Roku, Inc NASDAQ: ROKU is a technology company that develops and operates a proprietary streaming platform designed to deliver entertainment content to consumers via internet-connected devices and smart televisions. Since its inception in 2002 in California, Roku has focused on simplifying access to streaming services for viewers worldwide. The company's platform enables users to discover, access and manage a wide array of over-the-top content from major streaming services, free ad-supported channels and niche providers.

At the core of Roku's product lineup are a range of streaming players and sticks, which connect to televisions via HDMI and deliver the Roku OS experience.

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