2,838 Shares in Roku, Inc. (NASDAQ:ROKU) Purchased by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC purchased a new position in Roku, Inc. (NASDAQ:ROKU) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 2,838 shares of the company’s stock, valued at approximately $212,000.

A number of other large investors also recently modified their holdings of the business. ARK Investment Management LLC increased its position in Roku by 1.3% during the second quarter. ARK Investment Management LLC now owns 12,716,432 shares of the company’s stock worth $762,096,000 after acquiring an additional 159,785 shares during the period. Vanguard Group Inc. lifted its stake in shares of Roku by 0.8% in the first quarter. Vanguard Group Inc. now owns 11,946,605 shares of the company’s stock valued at $778,560,000 after buying an additional 92,658 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its position in Roku by 24.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,349,067 shares of the company’s stock worth $478,939,000 after buying an additional 1,457,925 shares in the last quarter. Nikko Asset Management Americas Inc. increased its stake in Roku by 25.8% during the first quarter. Nikko Asset Management Americas Inc. now owns 7,091,891 shares of the company’s stock valued at $462,108,000 after acquiring an additional 1,455,408 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in Roku by 5.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 500,794 shares of the company’s stock valued at $30,013,000 after acquiring an additional 24,926 shares in the last quarter. 86.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ROKU shares. JPMorgan Chase & Co. boosted their price objective on Roku from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Bank of America increased their price objective on shares of Roku from $75.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Rosenblatt Securities decreased their target price on shares of Roku from $89.00 to $61.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Benchmark reissued a “buy” rating and issued a $105.00 price target on shares of Roku in a research report on Thursday, September 12th. Finally, Guggenheim raised Roku from a “neutral” rating to a “buy” rating and set a $75.00 price objective on the stock in a report on Friday, August 23rd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Roku presently has a consensus rating of “Hold” and an average price target of $81.24.

Insider Buying and Selling

In other Roku news, insider Gilbert Fuchsberg sold 1,693 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $64.39, for a total value of $109,012.27. Following the transaction, the insider now directly owns 38,602 shares of the company’s stock, valued at approximately $2,485,582.78. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Roku news, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $75.00, for a total value of $1,875,000.00. Following the sale, the chief executive officer now directly owns 5,020 shares in the company, valued at approximately $376,500. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Gilbert Fuchsberg sold 1,693 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $64.39, for a total transaction of $109,012.27. Following the completion of the transaction, the insider now directly owns 38,602 shares of the company’s stock, valued at $2,485,582.78. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 69,566 shares of company stock valued at $5,254,000 over the last ninety days. Insiders own 13.98% of the company’s stock.

Roku Stock Performance

Shares of ROKU opened at $80.07 on Friday. The business’s fifty day moving average price is $70.53 and its two-hundred day moving average price is $62.83. The firm has a market capitalization of $11.59 billion, a price-to-earnings ratio of -23.07 and a beta of 2.08. Roku, Inc. has a 52 week low of $48.33 and a 52 week high of $108.84.

Roku (NASDAQ:ROKU) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.21. The business had revenue of $968.18 million for the quarter, compared to analysts’ expectations of $937.78 million. Roku had a negative return on equity of 21.03% and a negative net margin of 13.16%. The firm’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter last year, the business earned ($0.76) earnings per share. As a group, research analysts forecast that Roku, Inc. will post -1.44 EPS 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.