Principal Financial Group Inc. Sells 68,938 Shares of Roku, Inc. (NASDAQ:ROKU)

Principal Financial Group Inc. trimmed its holdings in shares of Roku, Inc. (NASDAQ:ROKU - Free Report) by 66.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,094 shares of the company's stock after selling 68,938 shares during the quarter. Principal Financial Group Inc.'s holdings in Roku were worth $2,402,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ROKU. Teacher Retirement System of Texas acquired a new position in Roku in the 1st quarter worth about $4,965,000. Summit Trail Advisors LLC raised its holdings in Roku by 65.0% in the 1st quarter. Summit Trail Advisors LLC now owns 12,388 shares of the company's stock worth $873,000 after purchasing an additional 4,879 shares during the period. Smith Group Asset Management LLC raised its holdings in Roku by 2.8% in the 1st quarter. Smith Group Asset Management LLC now owns 7,390 shares of the company's stock worth $521,000 after purchasing an additional 200 shares during the period. ABLE Financial Group LLC acquired a new position in Roku in the 1st quarter worth about $1,272,000. Finally, Goodman Advisory Group LLC acquired a new position in Roku in the 1st quarter worth about $467,000. 86.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Charles Collier sold 7,181 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $75.00, for a total value of $538,575.00. Following the completion of the transaction, the insider directly owned 10,970 shares in the company, valued at $822,750. This trade represents a 39.56% decrease in their ownership of the stock. 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 firm's stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $89.64, for a total transaction of $2,241,000.00. Following the sale, the chief executive officer 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 disclosure for this sale can be found here. Insiders have sold a total of 96,520 shares of company stock worth $7,898,294 in the last quarter. Company insiders own 13.98% of the company's stock.

Roku Stock Performance

Shares of Roku stock traded up $2.19 during trading on Friday, reaching $93.29. The company had a trading volume of 2,715,215 shares, compared to its average volume of 3,818,856. The company has a market cap of $13.61 billion, a price-to-earnings ratio of -127.79 and a beta of 2.12. The firm's fifty day moving average is $79.82 and its 200-day moving average is $76.15. Roku, Inc. has a fifty-two week low of $48.33 and a fifty-two week high of $104.96.

Roku (NASDAQ:ROKU - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.08. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. Roku had a negative net margin of 2.49% and a negative return on equity of 4.29%. Roku's quarterly revenue was up 15.8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.35) earnings per share. On average, research analysts anticipate that Roku, Inc. will post -0.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on ROKU shares. Guggenheim reiterated a "buy" rating and set a $100.00 price objective on shares of Roku in a research note on Friday, May 2nd. Citigroup restated a "neutral" rating and issued a $84.00 price target (up from $68.00) on shares of Roku in a research report on Wednesday, June 18th. Benchmark restated a "buy" rating and issued a $130.00 price target on shares of Roku in a research report on Friday, May 2nd. Wells Fargo & Company dropped their price target on Roku from $129.00 to $93.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. Finally, Bank of America upped their price target on Roku from $100.00 to $110.00 and gave the company a "buy" rating in a research report on Thursday, July 3rd. One analyst has rated the stock with a sell rating, seven have given a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $93.29.

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.