RedJay Asset Management Inc. Reduces Stake in Roku, Inc. (NASDAQ:ROKU)

RedJay Asset Management Inc. reduced its stake in Roku, Inc. (NASDAQ:ROKU - Free Report) by 50.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,000 shares of the company's stock after selling 50,000 shares during the period. Roku accounts for 1.9% of RedJay Asset Management Inc.'s holdings, making the stock its 20th biggest holding. RedJay Asset Management Inc.'s holdings in Roku were worth $3,522,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Garde Capital Inc. bought a new stake in Roku during the 1st quarter valued at $25,000. Vision Financial Markets LLC bought a new position in shares of Roku during the 4th quarter worth $30,000. Golden State Wealth Management LLC increased its stake in shares of Roku by 125.4% during the first quarter. Golden State Wealth Management LLC now owns 444 shares of the company's stock valued at $31,000 after buying an additional 247 shares during the period. Princeton Global Asset Management LLC bought a new stake in shares of Roku in the first quarter valued at about $35,000. Finally, First PREMIER Bank purchased a new stake in Roku in the first quarter worth about $35,000. Institutional investors own 86.30% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Benchmark reaffirmed a "buy" rating and issued a $130.00 price target on shares of Roku in a research report on Friday, May 2nd. JMP Securities reaffirmed a "market outperform" rating and set a $95.00 price objective on shares of Roku in a research report on Tuesday, June 17th. Wells Fargo & Company decreased their price target on shares of Roku from $129.00 to $93.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. UBS Group reduced their price objective on shares of Roku from $90.00 to $72.00 and set a "neutral" rating for the company in a research note on Tuesday, April 15th. Finally, Bank of America raised their target price on shares of Roku from $100.00 to $110.00 and gave the company a "buy" rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $90.37.

Insider Transactions at Roku

In other Roku news, CFO Dan Jedda sold 1,500 shares of the firm's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $81.32, for a total value of $121,980.00. Following the transaction, the chief financial officer owned 80,632 shares in the company, valued at approximately $6,556,994.24. This trade represents a 1.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Matthew C. Banks sold 629 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $72.98, for a total transaction of $45,904.42. Following the completion of the transaction, the chief accounting officer directly owned 8,555 shares in the company, valued at approximately $624,343.90. This represents a 6.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 64,020 shares of company stock valued at $4,979,594. Insiders own 13.98% of the company's stock.

Roku Stock Performance

Shares of Roku stock traded up $1.72 on Thursday, hitting $88.12. The company's stock had a trading volume of 2,047,155 shares, compared to its average volume of 3,844,306. The company has a market capitalization of $12.86 billion, a price-to-earnings ratio of -120.72 and a beta of 2.12. The firm has a fifty day moving average price of $73.68 and a 200-day moving average price of $75.26. 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 posted its quarterly earnings data on Thursday, May 1st. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.08. Roku had a negative net margin of 2.49% and a negative return on equity of 4.29%. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same period last year, the firm posted ($0.35) earnings per share. The company's revenue was up 15.8% compared to the same quarter last year. As a group, analysts forecast that Roku, Inc. will post -0.3 EPS for the current 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.