Aviance Capital Partners LLC Lowers Stake in Roku, Inc. (NASDAQ:ROKU)

Aviance Capital Partners LLC decreased its position in Roku, Inc. (NASDAQ:ROKU - Free Report) by 73.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,826 shares of the company's stock after selling 13,554 shares during the period. Aviance Capital Partners LLC's holdings in Roku were worth $340,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of ROKU. Garde Capital Inc. bought a new stake in shares of Roku during the first quarter worth about $25,000. Vision Financial Markets LLC bought a new stake in shares of Roku during the fourth quarter worth about $30,000. Golden State Wealth Management LLC increased its position 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 worth $31,000 after acquiring an additional 247 shares in the last quarter. Princeton Global Asset Management LLC bought a new stake in shares of Roku during the first quarter worth about $35,000. Finally, First PREMIER Bank bought a new stake in shares of Roku during the first quarter worth about $35,000. Institutional investors and hedge funds own 86.30% of the company's stock.

Insider Activity at Roku

In other Roku news, Director Mai Fyfield sold 914 shares of the firm's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $78.50, for a total value of $71,749.00. Following the sale, the director owned 4,374 shares of the company's stock, valued at $343,359. This trade represents a 17.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Charles Collier sold 7,181 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $75.00, for a total transaction of $538,575.00. Following the completion of the sale, the insider directly owned 10,970 shares in the company, valued at approximately $822,750. This trade represents a 39.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 64,020 shares of company stock worth $4,979,594 in the last 90 days. Corporate insiders own 13.98% of the company's stock.

Roku Stock Performance

Shares of ROKU stock traded up $0.08 on Tuesday, hitting $88.14. 1,828,650 shares of the company's stock traded hands, compared to its average volume of 3,848,163. Roku, Inc. has a one year low of $48.33 and a one year high of $104.96. The company's fifty day simple moving average is $75.37 and its 200 day simple moving average is $75.42. The stock has a market capitalization of $12.86 billion, a price-to-earnings ratio of -120.74 and a beta of 2.12.

Roku (NASDAQ:ROKU - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported ($0.19) 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 company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the firm earned ($0.35) EPS. The firm's quarterly revenue was up 15.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Roku, Inc. will post -0.3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Evercore ISI decreased their target price on shares of Roku from $105.00 to $80.00 and set an "in-line" rating for the company in a research report on Friday, May 2nd. FBN Securities initiated coverage on shares of Roku in a research report on Friday, March 28th. They set an "outperform" rating and a $93.00 target price for the company. Wells Fargo & Company reduced their price objective 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. Citigroup reaffirmed a "neutral" rating and issued a $84.00 price objective (up from $68.00) on shares of Roku in a research report on Wednesday, June 18th. Finally, Bank of America upped their price objective on shares of Roku from $100.00 to $110.00 and gave the stock a "buy" rating in a research report on Thursday, July 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $90.37.

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.