Vestmark Advisory Solutions Inc. Cuts Stock Holdings in Roku, Inc. (NASDAQ:ROKU)

Key Points

• Vestmark Advisory Solutions Inc. reduced its stake in Roku by 40.4%, selling 118,756 shares, leaving it with a total of 174,959 shares valued at approximately $12.32 million.
• Roku's stock has seen volatility, trading at $88.09 with a 12-month low of $52.43 and a high of $104.96, while its market cap stands at $12.98 billion.
• Recent earnings show Roku reporting $0.07 earnings per share, surpassing estimates, with revenues totaling $1.11 billion and a year-over-year increase of 14.7%.

Vestmark Advisory Solutions Inc. decreased its position in shares of Roku, Inc. (NASDAQ:ROKU - Free Report) by 40.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 174,959 shares of the company's stock after selling 118,756 shares during the quarter. Vestmark Advisory Solutions Inc. owned approximately 0.12% of Roku worth $12,324,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. United Advisor Group LLC increased its holdings in shares of Roku by 0.9% in the fourth quarter. United Advisor Group LLC now owns 14,430 shares of the company's stock worth $1,073,000 after purchasing an additional 130 shares during the period. Cerity Partners LLC increased its holdings in shares of Roku by 0.5% in the fourth quarter. Cerity Partners LLC now owns 26,679 shares of the company's stock worth $1,984,000 after purchasing an additional 145 shares during the period. Smith Group Asset Management LLC increased its holdings in shares of Roku by 2.8% in the first quarter. Smith Group Asset Management LLC now owns 7,390 shares of the company's stock worth $521,000 after purchasing an additional 200 shares during the period. Neuberger Berman Group LLC increased its holdings in shares of Roku by 3.8% in the first quarter. Neuberger Berman Group LLC now owns 5,737 shares of the company's stock worth $404,000 after purchasing an additional 208 shares during the period. Finally, Golden State Wealth Management LLC grew its position in Roku by 125.4% in 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. Institutional investors and hedge funds own 86.30% of the company's stock.

Insider Buying and Selling at Roku

In other Roku news, insider Charles Collier sold 212,559 shares of the firm's stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $95.00, for a total transaction of $20,193,105.00. Following the completion of the transaction, the insider owned 200 shares of the company's stock, valued at approximately $19,000. This trade represents a 99.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Matthew C. Banks sold 3,360 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The shares were 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 $441,834.75. This represents a 39.28% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 337,233 shares of company stock worth $30,423,181 over the last three months. Company insiders own 13.98% of the company's stock.

Roku Price Performance

ROKU stock traded up $2.78 during trading on Friday, reaching $90.29. The company had a trading volume of 4,108,853 shares, compared to its average volume of 4,599,743. Roku, Inc. has a 52 week low of $52.43 and a 52 week high of $104.96. The company has a market cap of $13.30 billion, a P/E ratio of -214.98, a PEG ratio of 12.25 and a beta of 2.05. The business has a 50 day moving average of $86.19 and a 200 day moving average of $77.40.

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

Analyst Ratings Changes

Several research analysts recently issued reports on ROKU shares. Guggenheim upped their target price on shares of Roku from $100.00 to $105.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Piper Sandler upped their target price on shares of Roku from $65.00 to $84.00 and gave the stock a "neutral" rating in a research report on Thursday, July 10th. Pivotal Research upped their target price on shares of Roku from $100.00 to $120.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Evercore ISI cut 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. Finally, JMP Securities upped their price target on shares of Roku from $95.00 to $110.00 and gave the company a "market outperform" rating in a research report on Monday, July 21st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Roku presently has a consensus rating of "Moderate Buy" and an average price target 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.