Axxcess Wealth Management LLC Boosts Position in Roku, Inc. (NASDAQ:ROKU)

Axxcess Wealth Management LLC boosted its position in Roku, Inc. (NASDAQ:ROKU) by 19.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,159 shares of the company’s stock after purchasing an additional 2,593 shares during the period. Axxcess Wealth Management LLC’s holdings in Roku were worth $968,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Mcdonald Partners LLC lifted its stake in Roku by 0.9% in the 2nd quarter. Mcdonald Partners LLC now owns 19,608 shares of the company’s stock worth $1,175,000 after purchasing an additional 175 shares in the last quarter. Benjamin Edwards Inc. increased its holdings in shares of Roku by 43.5% in the first quarter. Benjamin Edwards Inc. now owns 617 shares of the company’s stock worth $40,000 after purchasing an additional 187 shares during the last quarter. Beacon Capital Management LLC lifted its position in shares of Roku by 17.7% in the first quarter. Beacon Capital Management LLC now owns 1,547 shares of the company’s stock worth $101,000 after buying an additional 233 shares in the last quarter. Arizona State Retirement System boosted its stake in Roku by 0.7% during the second quarter. Arizona State Retirement System now owns 34,656 shares of the company’s stock valued at $2,077,000 after buying an additional 251 shares during the last quarter. Finally, Quarry LP grew its holdings in Roku by 160.2% during the 4th quarter. Quarry LP now owns 432 shares of the company’s stock valued at $40,000 after buying an additional 266 shares in the last quarter. 86.30% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on ROKU shares. Wells Fargo & Company raised Roku from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $50.00 to $72.00 in a report on Thursday, September 5th. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price objective on shares of Roku in a research report on Friday, September 13th. Wolfe Research upgraded shares of Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 target price on the stock in a report on Thursday, September 12th. Wedbush restated an “outperform” rating and set a $75.00 target price on shares of Roku in a research report on Friday, August 2nd. Finally, Bank of America dropped their price target on Roku from $85.00 to $75.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $78.75.

Insiders Place Their Bets

In other Roku news, insider Gilbert Fuchsberg sold 1,693 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total value of $109,012.27. Following the completion of the sale, the insider now directly owns 38,602 shares in the company, valued at approximately $2,485,582.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Gilbert Fuchsberg sold 1,693 shares of Roku stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total value of $109,012.27. Following the completion of the sale, the insider now directly owns 38,602 shares in the company, valued at $2,485,582.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Charles Collier sold 3,590 shares of the company’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $65.00, for a total transaction of $233,350.00. Following the completion of the sale, the insider now directly owns 12,064 shares of the company’s stock, valued at $784,160. The disclosure for this sale can be found here. Insiders have sold 46,945 shares of company stock worth $3,465,135 in the last ninety days. 13.98% of the stock is owned by company insiders.

Roku Trading Up 0.1 %

NASDAQ ROKU opened at $77.45 on Friday. Roku, Inc. has a 12 month low of $48.33 and a 12 month high of $108.84. The company’s 50-day moving average price is $63.03 and its 200-day moving average price is $61.07. The stock has a market cap of $11.21 billion, a PE ratio of -19.41 and a beta of 2.06.

Roku (NASDAQ:ROKU) last issued its earnings results on Thursday, August 1st. The company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.21. The business had revenue of $968.18 million for the quarter, compared to analyst estimates of $937.78 million. Roku had a negative net margin of 13.16% and a negative return on equity of 21.03%. The company’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period last year, the company posted ($0.76) earnings per share. As a group, sell-side analysts forecast that Roku, Inc. will post -1.45 earnings per share for the current year.

Roku 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.