Private Advisor Group LLC Sells 6,290 Shares of Roku, Inc. (NASDAQ:ROKU)

Key Points

• Private Advisor Group LLC reduced its stake in Roku, Inc. by 26.6%, selling 6,290 shares in the first quarter, leaving them with 17,389 shares valued at approximately $1,225,000.
• Roku reported a quarterly revenue of $1.02 billion, exceeding estimates, and the company achieved an EPS of ($0.19), which also beat the consensus estimate.
• Brokerage analysts have issued varied outlooks for Roku, with Bank of America raising its target price to $110.00, while UBS Group set a new price objective at $72.00.

Private Advisor Group LLC cut its holdings in shares of Roku, Inc. (NASDAQ:ROKU - Free Report) by 26.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,389 shares of the company's stock after selling 6,290 shares during the quarter. Private Advisor Group LLC's holdings in Roku were worth $1,225,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ROKU. Garde Capital Inc. bought a new stake in shares of Roku during the first quarter valued at approximately $25,000. Golden State Wealth Management LLC increased its holdings in Roku by 125.4% in the 1st quarter. Golden State Wealth Management LLC now owns 444 shares of the company's stock valued at $31,000 after acquiring an additional 247 shares during the last quarter. Princeton Global Asset Management LLC bought a new stake in Roku in the 1st quarter valued at $35,000. First PREMIER Bank bought a new stake in Roku in the 1st quarter valued at $35,000. Finally, Allianz SE bought a new stake in Roku in the 4th quarter valued at $39,000. Institutional investors own 86.30% of the company's stock.

Roku Stock Performance

ROKU opened at $90.12 on Friday. The stock's 50 day moving average price is $81.78 and its 200-day moving average price is $76.56. The stock has a market cap of $13.15 billion, a price-to-earnings ratio of -123.45 and a beta of 2.12. Roku, Inc. has a one year low of $48.33 and a one 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 company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. Roku had a negative return on equity of 4.29% and a negative net margin of 2.49%. Roku's quarterly revenue was up 15.8% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.35) EPS. As a group, analysts predict that Roku, Inc. will post -0.3 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Dan Jedda sold 3,000 shares of the stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $90.20, for a total transaction of $270,600.00. Following the transaction, the chief financial officer owned 76,132 shares of the company's stock, valued at approximately $6,867,106.40. This represents a 3.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Charles Collier sold 212,559 shares of the stock in a transaction on Monday, July 21st. The stock was sold at an average price of $95.00, for a total value of $20,193,105.00. Following the transaction, the insider directly owned 200 shares in the company, valued at $19,000. The trade was a 99.91% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 309,079 shares of company stock valued at $28,091,399 over the last quarter. 13.98% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ROKU. Bank of America lifted their target price on Roku from $100.00 to $110.00 and gave the stock a "buy" rating in a report on Thursday, July 3rd. UBS Group reduced their price objective on Roku from $90.00 to $72.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. Wall Street Zen raised Roku from a "hold" rating to a "buy" rating in a research note on Saturday. Citigroup reaffirmed a "neutral" rating and issued a $84.00 price objective (up previously from $68.00) on shares of Roku in a research note on Wednesday, June 18th. Finally, JMP Securities boosted their price target on shares of Roku from $95.00 to $110.00 and gave the stock a "market outperform" rating in a research report on Monday, July 21st. One analyst has rated the stock with a sell rating, seven have given a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $93.92.

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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