Interchange Capital Partners LLC Decreases Stock Position in Roku, Inc. (NASDAQ:ROKU)

Interchange Capital Partners LLC cut its stake in Roku, Inc. (NASDAQ:ROKU - Free Report) by 36.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,949 shares of the company's stock after selling 4,653 shares during the quarter. Interchange Capital Partners LLC's holdings in Roku were worth $560,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Envestnet Asset Management Inc. grew its holdings in shares of Roku by 12.8% in the first quarter. Envestnet Asset Management Inc. now owns 175,250 shares of the company's stock valued at $12,345,000 after acquiring an additional 19,889 shares in the last quarter. Concurrent Investment Advisors LLC grew its holdings in Roku by 18.8% during the first quarter. Concurrent Investment Advisors LLC now owns 5,068 shares of the company's stock valued at $357,000 after purchasing an additional 801 shares during the period. Bank of New York Mellon Corp grew its holdings in Roku by 0.9% during the first quarter. Bank of New York Mellon Corp now owns 510,934 shares of the company's stock valued at $35,990,000 after purchasing an additional 4,617 shares during the period. IFM Investors Pty Ltd grew its holdings in Roku by 7.6% during the first quarter. IFM Investors Pty Ltd now owns 24,440 shares of the company's stock valued at $1,825,000 after purchasing an additional 1,736 shares during the period. Finally, Teacher Retirement System of Texas bought a new position in Roku during the first quarter valued at $4,965,000. 86.30% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ROKU. JPMorgan Chase & Co. increased their price objective on Roku from $75.00 to $85.00 and gave the company an "overweight" rating in a report on Tuesday, June 3rd. Benchmark reissued a "buy" rating and set a $130.00 price objective on shares of Roku in a report on Friday, May 2nd. Bank of America increased their price objective on Roku from $100.00 to $110.00 and gave the company a "buy" rating in a report on Thursday, July 3rd. Wedbush restated an "outperform" rating and set a $100.00 target price on shares of Roku in a research report on Monday, June 16th. Finally, Evercore ISI dropped their target price on Roku from $105.00 to $80.00 and set an "in-line" rating on the stock in a research report on Friday, May 2nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $90.37.

Roku Price Performance

NASDAQ ROKU traded down $0.59 during trading hours on Tuesday, reaching $87.47. 592,890 shares of the stock traded hands, compared to its average volume of 3,838,638. The stock has a 50 day simple moving average of $74.99 and a two-hundred day simple moving average of $75.33. Roku, Inc. has a 1 year low of $48.33 and a 1 year high of $104.96. The company has a market cap of $12.76 billion, a price-to-earnings ratio of -119.77 and a beta of 2.12.

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

Insider Activity

In other Roku news, CFO Dan Jedda sold 1,500 shares of Roku stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $81.32, for a total transaction of $121,980.00. Following the completion of the sale, the chief financial officer owned 80,632 shares of the company's stock, valued at $6,556,994.24. The trade was a 1.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $80.27, for a total value of $2,006,750.00. Following the sale, the chief executive officer directly owned 11,953 shares of the company's stock, valued at approximately $959,467.31. This trade represents a 67.65% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 64,020 shares of company stock valued at $4,979,594. 13.98% of the stock is owned by insiders.

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.