Victory Capital Management Inc. Sells 219 Shares of Roku, Inc. (NASDAQ:ROKU)

Victory Capital Management Inc. cut its stake in Roku, Inc. (NASDAQ:ROKU) by 1.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,060 shares of the company’s stock after selling 219 shares during the period. Victory Capital Management Inc.’s holdings in Roku were worth $1,199,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. PFG Investments LLC raised its stake in shares of Roku by 3.7% in the third quarter. PFG Investments LLC now owns 4,157 shares of the company’s stock valued at $310,000 after purchasing an additional 150 shares in the last quarter. Mcdonald Partners LLC raised its stake in shares of Roku by 0.9% in the 2nd quarter. Mcdonald Partners LLC now owns 19,608 shares of the company’s stock valued at $1,175,000 after buying an additional 175 shares in the last quarter. Sequoia Financial Advisors LLC lifted its holdings in shares of Roku by 4.5% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 4,721 shares of the company’s stock worth $352,000 after acquiring an additional 202 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Roku by 11.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,207 shares of the company’s stock valued at $165,000 after acquiring an additional 222 shares in the last quarter. Finally, Beacon Capital Management LLC increased its stake in Roku by 17.7% in the first quarter. Beacon Capital Management LLC now owns 1,547 shares of the company’s stock valued at $101,000 after acquiring an additional 233 shares during the period. 86.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ROKU has been the topic of several analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price objective on shares of Roku in a research note on Thursday, October 31st. Guggenheim upgraded Roku from a “neutral” rating to a “buy” rating and set a $75.00 price objective for the company in a research note on Friday, August 23rd. JPMorgan Chase & Co. boosted their target price on shares of Roku from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Rosenblatt Securities increased their target price on shares of Roku from $61.00 to $86.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, Moffett Nathanson upgraded shares of Roku from a “sell” rating to a “neutral” rating and set a $80.00 price target on the stock in a research report on Tuesday, October 1st. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $84.14.

Insider Transactions at Roku

In other news, CAO Matthew C. Banks sold 8,693 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $71.44, for a total transaction of $621,027.92. Following the sale, the chief accounting officer now directly owns 7,264 shares of the company’s stock, valued at $518,940.16. The trade was a 54.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gilbert Fuchsberg sold 1,693 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $64.39, for a total value of $109,012.27. Following the completion of the transaction, the insider now directly owns 38,602 shares in the company, valued at $2,485,582.78. This represents a 4.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 90,240 shares of company stock valued at $6,729,582. 13.98% of the stock is currently owned by company insiders.

Roku Stock Down 2.8 %

Shares of Roku stock opened at $66.31 on Wednesday. Roku, Inc. has a 52 week low of $48.33 and a 52 week high of $108.84. The stock’s 50-day simple moving average is $74.33 and its 200-day simple moving average is $65.19. The company has a market capitalization of $9.63 billion, a price-to-earnings ratio of -55.26 and a beta of 2.07.

Roku (NASDAQ:ROKU) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.35) by $0.29. Roku had a negative return on equity of 7.22% and a negative net margin of 4.42%. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same period in the prior year, the firm earned ($2.33) EPS. The company’s revenue for the quarter was up 16.5% on a year-over-year basis. On average, equities analysts expect that Roku, Inc. will post -1.1 earnings per share for the current 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.