Lazard Asset Management LLC Decreases Position in Roku, Inc. (NASDAQ:ROKU)

Lazard Asset Management LLC lowered its stake in shares of Roku, Inc. (NASDAQ:ROKU - Free Report) by 32.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 97,169 shares of the company's stock after selling 46,189 shares during the period. Lazard Asset Management LLC owned 0.07% of Roku worth $7,223,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of ROKU. Oak Thistle LLC purchased a new stake in shares of Roku during the 4th quarter worth approximately $823,000. Avanza Fonder AB purchased a new stake in shares of Roku during the 4th quarter worth approximately $3,499,000. O Keefe Stevens Advisory Inc. increased its stake in shares of Roku by 39.5% during the 4th quarter. O Keefe Stevens Advisory Inc. now owns 3,893 shares of the company's stock worth $289,000 after purchasing an additional 1,102 shares during the last quarter. Stonekeep Investments LLC purchased a new stake in shares of Roku during the 4th quarter worth approximately $261,000. Finally, Ameritas Advisory Services LLC purchased a new stake in shares of Roku during the 4th quarter worth approximately $311,000. Hedge funds and other institutional investors own 86.30% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ROKU. Wedbush decreased their price target on shares of Roku from $125.00 to $100.00 and set an "outperform" rating for the company in a research note on Monday, April 28th. JPMorgan Chase & Co. reduced their price objective on shares of Roku from $115.00 to $75.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Guggenheim reiterated a "buy" rating and issued a $100.00 price objective on shares of Roku in a research note on Friday, May 2nd. Bank of America assumed coverage on shares of Roku in a research note on Thursday, March 27th. They issued a "buy" rating and a $100.00 price objective for the company. Finally, Evercore ISI reduced their price objective on shares of Roku from $105.00 to $80.00 and set an "in-line" rating for the company in a research note on Friday, May 2nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, fifteen have issued a buy rating and two have given 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 price target of $87.93.

Insider Transactions at Roku

In related news, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction on Friday, February 14th. The shares were sold at an average price of $100.40, for a total value of $2,510,000.00. Following the transaction, the chief executive officer now owns 26,538 shares in the company, valued at $2,664,415.20. This trade represents a 48.51% 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, CAO Matthew C. Banks sold 1,906 shares of Roku stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $80.36, for a total transaction of $153,166.16. Following the completion of the transaction, the chief accounting officer now owns 7,256 shares in the company, valued at approximately $583,092.16. The trade was a 20.80% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,111 shares of company stock valued at $4,377,112. Insiders own 13.98% of the company's stock.

Roku Stock Performance

NASDAQ ROKU opened at $71.88 on Thursday. Roku, Inc. has a 52-week low of $48.33 and a 52-week high of $104.96. The company has a market capitalization of $10.49 billion, a P/E ratio of -80.76 and a beta of 2.06. The company has a fifty day moving average of $65.91 and a 200-day moving average of $74.51.

Roku (NASDAQ:ROKU - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.27) by $0.08. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the previous year, the firm posted ($0.35) EPS. The firm's revenue was up 15.8% compared to the same quarter last year. As a group, analysts forecast that Roku, Inc. will post -0.3 EPS for the current fiscal year.

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.

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