Sigma Planning Corp Grows Stock Position in Roku, Inc. (NASDAQ:ROKU)

Sigma Planning Corp boosted its stake in Roku, Inc. (NASDAQ:ROKU - Free Report) by 101.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,001 shares of the company's stock after acquiring an additional 9,066 shares during the quarter. Sigma Planning Corp's holdings in Roku were worth $1,268,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ROKU. Proficio Capital Partners LLC purchased a new position in Roku in the 4th quarter worth approximately $3,377,000. Raymond James Financial Inc. purchased a new position in Roku in the 4th quarter worth approximately $2,950,000. PNC Financial Services Group Inc. boosted its holdings in Roku by 12.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,008 shares of the company's stock worth $224,000 after acquiring an additional 338 shares during the period. AlphaQuest LLC purchased a new position in Roku in the 4th quarter worth approximately $79,000. Finally, Farther Finance Advisors LLC boosted its holdings in Roku by 23.9% in the 4th quarter. Farther Finance Advisors LLC now owns 627 shares of the company's stock worth $47,000 after acquiring an additional 121 shares during the period. Hedge funds and other institutional investors own 86.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Bank of America upped their price target on Roku from $100.00 to $110.00 and gave the stock a "buy" rating in a report on Thursday, July 3rd. JPMorgan Chase & Co. increased their target price on Roku from $75.00 to $85.00 and gave the company an "overweight" rating in a research note on Tuesday, June 3rd. JMP Securities reiterated a "market outperform" rating and set a $95.00 target price on shares of Roku in a research note on Tuesday, June 17th. Evercore ISI reduced their target price on Roku from $105.00 to $80.00 and set an "in-line" rating for the company in a research note on Friday, May 2nd. Finally, FBN Securities assumed coverage on Roku in a research note on Friday, March 28th. They set an "outperform" rating and a $93.00 target price for the company. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $92.67.

Roku Price Performance

Shares of ROKU opened at $90.90 on Thursday. Roku, Inc. has a 12-month low of $48.33 and a 12-month high of $104.96. The business's fifty day moving average price is $78.57 and its 200 day moving average price is $75.89. The stock has a market capitalization of $13.27 billion, a PE ratio of -124.52 and a beta of 2.12.

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

Insider Transactions at Roku

In other Roku 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 value of $270,600.00. Following the sale, the chief financial officer directly owned 76,132 shares of the company's stock, valued at $6,867,106.40. This trade represents a 3.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Matthew C. Banks sold 629 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $72.98, for a total value of $45,904.42. Following the completion of the sale, the chief accounting officer directly owned 8,555 shares in the company, valued at $624,343.90. This represents a 6.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 96,520 shares of company stock valued at $7,898,294 over the last three months. 13.98% of the stock is currently owned by company insiders.

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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