Russell Investments Group Ltd. Acquires 211,459 Shares of Roku, Inc. (NASDAQ:ROKU)

Key Points

• Russell Investments Group Ltd. increased its stake in Roku, Inc. by 79.8%, owning 476,521 shares valued at approximately $33.9 million as of the latest SEC filing.
• Significant insider selling was reported, with Matthew C. Banks and Charles Collier combined selling over 215,000 shares of Roku, indicating a 39% and 99% decrease in their respective holdings.
• Roku's latest quarterly earnings exceeded projections, with reported revenue of $1.11 billion, marking a 14.7% increase year-over-year, and analysts have a consensus target price of $98.96 for the stock.

Russell Investments Group Ltd. grew its holdings in Roku, Inc. (NASDAQ:ROKU - Free Report) by 79.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 476,521 shares of the company's stock after purchasing an additional 211,459 shares during the period. Russell Investments Group Ltd. owned approximately 0.33% of Roku worth $33,895,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. United Advisor Group LLC increased its stake in shares of Roku by 0.9% in the 4th quarter. United Advisor Group LLC now owns 14,430 shares of the company's stock valued at $1,073,000 after purchasing an additional 130 shares during the last quarter. Cerity Partners LLC grew its position in Roku by 0.5% during the 4th quarter. Cerity Partners LLC now owns 26,679 shares of the company's stock worth $1,984,000 after acquiring an additional 145 shares during the last quarter. Smith Group Asset Management LLC grew its position in Roku by 2.8% during the 1st quarter. Smith Group Asset Management LLC now owns 7,390 shares of the company's stock worth $521,000 after acquiring an additional 200 shares during the last quarter. Golden State Wealth Management LLC grew its position in Roku by 125.4% during the 1st quarter. Golden State Wealth Management LLC now owns 444 shares of the company's stock worth $31,000 after acquiring an additional 247 shares during the last quarter. Finally, Itau Unibanco Holding S.A. grew its position in Roku by 95.5% during the 4th quarter. Itau Unibanco Holding S.A. now owns 569 shares of the company's stock worth $42,000 after acquiring an additional 278 shares during the last quarter. Institutional investors own 86.30% of the company's stock.

Insider Transactions at Roku

In related news, CAO Matthew C. Banks sold 3,360 shares of the company's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $85.05, for a total transaction of $285,768.00. Following the transaction, the chief accounting officer directly owned 5,195 shares of the company's stock, valued at approximately $441,834.75. This represents a 39.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Charles Collier sold 212,559 shares of the company's stock in a transaction that occurred 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 approximately $19,000. This trade represents a 99.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 337,233 shares of company stock valued at $30,423,181 in the last 90 days. Corporate insiders own 13.98% of the company's stock.

Roku Price Performance

Shares of NASDAQ:ROKU opened at $87.51 on Friday. The company has a market capitalization of $12.89 billion, a price-to-earnings ratio of -208.36, a P/E/G ratio of 12.33 and a beta of 2.05. The business's 50-day moving average is $85.95 and its 200-day moving average is $77.35. Roku, Inc. has a 1 year low of $52.43 and a 1 year high of $104.96.

Roku (NASDAQ:ROKU - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.07 earnings per share for the quarter, topping analysts' consensus estimates of ($0.16) by $0.23. Roku had a negative return on equity of 2.44% and a negative net margin of 1.40%. The business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the prior year, the business earned ($0.18) EPS. The firm's revenue for the quarter was up 14.7% on a year-over-year basis. Analysts anticipate that Roku, Inc. will post -0.3 EPS for the current year.

Wall Street Analysts Forecast Growth

ROKU has been the topic of a number of research reports. Wells Fargo & Company boosted their price objective on Roku from $100.00 to $113.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Needham & Company LLC boosted their price objective on Roku from $100.00 to $110.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. KeyCorp boosted their price objective on Roku from $115.00 to $116.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Citigroup restated a "neutral" rating and set a $84.00 price objective (up previously from $68.00) on shares of Roku in a research report on Wednesday, June 18th. Finally, Benchmark restated a "buy" rating and set a $130.00 price objective on shares of Roku in a research report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Roku currently has a consensus rating of "Moderate Buy" and a consensus target price of $98.96.

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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