Vanguard Group Inc. Boosts Stake in Roku, Inc. (NASDAQ:ROKU)

Key Points

• Vanguard Group Inc. has increased its stake in Roku, Inc. by 2.1%, now owning over 12.5 million shares valued at approximately $880.8 million.
• Insider trading activity includes significant sales, with Charles Collier selling 212,559 shares for over $20 million, reducing his ownership by 99.91%.
• Roku's stock recently decreased by 1.5%, and the company reported a quarterly earnings per share (EPS) of $0.07, surpassing estimates of a loss.

Vanguard Group Inc. boosted its stake in shares of Roku, Inc. (NASDAQ:ROKU - Free Report) by 2.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,503,595 shares of the company's stock after buying an additional 254,504 shares during the quarter. Vanguard Group Inc. owned approximately 8.57% of Roku worth $880,753,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ROKU. Maxi Investments CY Ltd increased its position in Roku by 22.8% in the 1st quarter. Maxi Investments CY Ltd now owns 15,347 shares of the company's stock valued at $1,081,000 after buying an additional 2,847 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its position in Roku by 29.7% in the 1st quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 40,579 shares of the company's stock valued at $2,858,000 after buying an additional 9,290 shares in the last quarter. Blair William & Co. IL increased its position in Roku by 14.7% in the 1st quarter. Blair William & Co. IL now owns 45,727 shares of the company's stock valued at $3,221,000 after buying an additional 5,869 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd bought a new stake in Roku in the 1st quarter valued at about $234,000. Finally, Jupiter Asset Management Ltd. increased its position in Roku by 45.5% in the 1st quarter. Jupiter Asset Management Ltd. now owns 736,526 shares of the company's stock valued at $51,881,000 after buying an additional 230,175 shares in the last quarter. 86.30% of the stock is owned by institutional investors and hedge funds.

Roku Stock Performance

Shares of Roku stock traded up $3.77 during trading hours on Wednesday, hitting $88.09. The company's stock had a trading volume of 4,413,415 shares, compared to its average volume of 4,027,692. The business has a 50 day moving average price of $85.41 and a two-hundred day moving average price of $77.22. Roku, Inc. has a 12-month low of $52.43 and a 12-month high of $104.96. The company has a market cap of $12.98 billion, a PE ratio of -209.74, a PEG ratio of 11.48 and a beta of 2.05.

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

Insider Activity at Roku

In other Roku news, CAO Matthew C. Banks sold 3,360 shares of the business's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $85.05, for a total value of $285,768.00. Following the sale, the chief accounting officer owned 5,195 shares in the company, valued at $441,834.75. The trade was a 39.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $82.42, for a total transaction of $2,060,500.00. Following the completion of the transaction, the chief executive officer directly owned 16,441 shares of the company's stock, valued at approximately $1,355,067.22. The trade was a 60.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 337,233 shares of company stock worth $30,423,181 in the last quarter. 13.98% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Pivotal Research boosted their price objective on Roku from $100.00 to $120.00 and gave the stock a "buy" rating in a report on Friday, August 1st. UBS Group increased their price objective on Roku from $72.00 to $95.00 and gave the company a "neutral" rating in a report on Friday, August 1st. Evercore ISI reduced their price objective on Roku from $105.00 to $80.00 and set an "in-line" rating for the company in a report on Friday, May 2nd. JMP Securities increased their price objective on Roku from $95.00 to $110.00 and gave the company a "market outperform" rating in a report on Monday, July 21st. Finally, Benchmark reissued a "buy" rating and set a $130.00 price objective on shares of Roku in a report on Friday, May 2nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Roku presently has an average rating of "Moderate Buy" and an average target price of $98.96.

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.