Victory Capital Management Inc. Sells 229 Shares of Roku, Inc. (NASDAQ:ROKU)

Victory Capital Management Inc. lowered its position in shares of Roku, Inc. (NASDAQ:ROKU) by 1.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,279 shares of the company’s stock after selling 229 shares during the period. Victory Capital Management Inc.’s holdings in Roku were worth $976,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in ROKU. Quarry LP increased its position 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 purchasing an additional 266 shares during the period. Benjamin Edwards Inc. boosted its stake in shares of Roku by 43.5% during the first quarter. Benjamin Edwards Inc. now owns 617 shares of the company’s stock valued at $40,000 after purchasing an additional 187 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of Roku by 835.6% during the first quarter. Geneos Wealth Management Inc. now owns 683 shares of the company’s stock valued at $45,000 after purchasing an additional 610 shares in the last quarter. Natixis purchased a new position in Roku during the first quarter valued at approximately $53,000. Finally, Versant Capital Management Inc raised its stake in Roku by 706.2% in the second quarter. Versant Capital Management Inc now owns 911 shares of the company’s stock worth $55,000 after buying an additional 798 shares in the last quarter. 86.30% of the stock is currently owned by institutional investors.

Roku Stock Performance

Shares of Roku stock opened at $76.02 on Friday. Roku, Inc. has a fifty-two week low of $48.33 and a fifty-two week high of $108.84. The company has a market cap of $11.00 billion, a P/E ratio of -19.05 and a beta of 2.06. The firm has a 50-day simple moving average of $63.33 and a two-hundred day simple moving average of $61.16.

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

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ROKU. Bank of America dropped their target price on Roku from $85.00 to $75.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Wedbush reaffirmed an “outperform” rating and set a $75.00 price objective on shares of Roku in a research report on Friday, August 2nd. Wolfe Research upgraded Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 target price on the stock in a research note on Thursday, September 12th. Macquarie decreased their price target on shares of Roku from $88.00 to $72.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Finally, Wells Fargo & Company upgraded shares of Roku from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $50.00 to $72.00 in a report on Thursday, September 5th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Roku has a consensus rating of “Hold” and an average target price of $78.75.

Insider Buying and Selling

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 transaction of $1,875,000.00. Following the transaction, the chief executive officer now directly owns 5,020 shares of the company’s stock, valued at $376,500. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Roku news, insider Gilbert Fuchsberg sold 1,693 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 5,020 shares of the company’s stock, valued at approximately $376,500. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,945 shares of company stock valued at $3,465,135. 13.98% of the stock is owned by corporate insiders.

Roku Company 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.