Cerity Partners LLC Boosts Stock Holdings in Roku, Inc. (NASDAQ:ROKU)

Cerity Partners LLC lifted its stake in Roku, Inc. (NASDAQ:ROKU) by 11.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,534 shares of the company’s stock after buying an additional 2,644 shares during the period. Cerity Partners LLC’s holdings in Roku were worth $1,981,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of ROKU. AQR Capital Management LLC raised its holdings in shares of Roku by 645.3% during the second quarter. AQR Capital Management LLC now owns 221,557 shares of the company’s stock valued at $13,278,000 after acquiring an additional 191,831 shares in the last quarter. ARK Investment Management LLC raised its holdings in Roku by 1.3% in the 2nd quarter. ARK Investment Management LLC now owns 12,716,432 shares of the company’s stock worth $762,096,000 after purchasing an additional 159,785 shares in the last quarter. Andra AP fonden lifted its position in shares of Roku by 116.6% in the 2nd quarter. Andra AP fonden now owns 293,900 shares of the company’s stock worth $17,613,000 after purchasing an additional 158,200 shares during the period. Jupiter Asset Management Ltd. boosted its stake in shares of Roku by 279.5% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 175,645 shares of the company’s stock valued at $10,526,000 after purchasing an additional 129,360 shares in the last quarter. Finally, Hsbc Holdings PLC increased its position in shares of Roku by 179.9% during the second quarter. Hsbc Holdings PLC now owns 188,546 shares of the company’s stock valued at $11,401,000 after buying an additional 121,195 shares during the period. Institutional investors own 86.30% of the company’s stock.

Insider Activity at Roku

In related news, CAO Matthew C. Banks sold 8,693 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $71.44, for a total value of $621,027.92. Following the completion of the transaction, the chief accounting officer now directly owns 7,264 shares of the company’s stock, valued at $518,940.16. This represents a 54.48 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the sale, the chief executive officer now owns 5,020 shares in the company, valued at approximately $376,500. This represents a 83.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 90,240 shares of company stock valued at $6,729,582. Corporate insiders own 13.98% of the company’s stock.

Roku Price Performance

Roku stock opened at $77.05 on Tuesday. The company has a market cap of $11.19 billion, a price-to-earnings ratio of -64.21 and a beta of 2.07. Roku, Inc. has a 12 month low of $48.33 and a 12 month high of $108.84. The stock’s 50-day moving average is $73.70 and its 200-day moving average is $65.50.

Roku (NASDAQ:ROKU) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.29. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. Roku had a negative return on equity of 7.22% and a negative net margin of 4.42%. Roku’s revenue for the quarter was up 16.5% on a year-over-year basis. During the same period in the previous year, the company posted ($2.33) EPS. Research analysts anticipate that Roku, Inc. will post -1.1 EPS for the current year.

Analyst Ratings Changes

Several research firms have weighed in on ROKU. Rosenblatt Securities lifted their price objective on Roku from $61.00 to $86.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Guggenheim upgraded Roku from a “neutral” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Friday, August 23rd. Wolfe Research upgraded Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 price objective for the company in a report on Thursday, September 12th. Wells Fargo & Company boosted their target price on shares of Roku from $72.00 to $74.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Finally, Loop Capital upped their target price on shares of Roku from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $82.62.

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.