Stratos Wealth Partners LTD. Takes $306,000 Position in Roku, Inc. (NASDAQ:ROKU)

Stratos Wealth Partners LTD. bought a new position in Roku, Inc. (NASDAQ:ROKU - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,348 shares of the company's stock, valued at approximately $306,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in ROKU. Jacobs Levy Equity Management Inc. increased its stake in shares of Roku by 505.3% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,296,774 shares of the company's stock valued at $96,402,000 after buying an additional 1,082,548 shares during the period. Geode Capital Management LLC increased its position in Roku by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 2,147,259 shares of the company's stock valued at $159,353,000 after purchasing an additional 56,820 shares during the period. Lecap Asset Management Ltd. acquired a new stake in shares of Roku during the 1st quarter worth approximately $511,000. J. Goldman & Co LP grew its position in shares of Roku by 973.1% during the 4th quarter. J. Goldman & Co LP now owns 354,326 shares of the company's stock worth $26,341,000 after buying an additional 321,307 shares during the period. Finally, Allstate Corp acquired a new stake in shares of Roku during the 4th quarter worth approximately $275,000. Institutional investors own 86.30% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on ROKU. Wells Fargo & Company reduced 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. Evercore ISI dropped their price objective on Roku from $105.00 to $80.00 and set an "in-line" rating on the stock in a research note on Friday, May 2nd. UBS Group lowered their target price on shares of Roku from $90.00 to $72.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. FBN Securities started coverage on shares of Roku in a report on Friday, March 28th. They issued an "outperform" rating and a $93.00 target price for the company. Finally, Rosenblatt Securities lowered their target price on Roku from $100.00 to $75.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Roku currently has an average rating of "Moderate Buy" and an average target price of $92.67.

Roku Price Performance

Shares of ROKU traded up $0.81 during midday trading on Friday, hitting $91.91. 485,887 shares of the company traded hands, compared to its average volume of 3,804,446. The stock has a 50-day moving average of $79.17 and a 200-day moving average of $76.00. Roku, Inc. has a one year low of $48.33 and a one year high of $104.96. The firm has a market cap of $13.41 billion, a P/E ratio of -125.91 and a beta of 2.12.

Roku (NASDAQ:ROKU - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.01 billion. Roku had a negative net margin of 2.49% and a negative return on equity of 4.29%. Roku's revenue for the quarter was up 15.8% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.35) earnings per share. Sell-side analysts forecast that Roku, Inc. will post -0.3 EPS for the current fiscal year.

Insiders Place Their Bets

In other Roku news, CAO Matthew C. Banks sold 629 shares of the company's stock in a transaction that occurred 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 owned 8,555 shares of the company's stock, valued at $624,343.90. This represents a 6.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mai Fyfield sold 914 shares of the company's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $78.50, for a total value of $71,749.00. Following the completion of the sale, the director directly owned 4,374 shares of the company's stock, valued at approximately $343,359. This represents a 17.28% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 96,520 shares of company stock valued at $7,898,294 over the last 90 days. Company insiders own 13.98% of the company's stock.

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.