Hsbc Holdings PLC Increases Holdings in Roku, Inc. (NASDAQ:ROKU)

Hsbc Holdings PLC grew its holdings in shares of Roku, Inc. (NASDAQ:ROKU) by 179.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 188,546 shares of the company’s stock after buying an additional 121,195 shares during the period. Hsbc Holdings PLC owned 0.13% of Roku worth $11,401,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. Quarry LP increased its position in Roku by 160.2% in the 4th quarter. Quarry LP now owns 432 shares of the company’s stock valued at $40,000 after acquiring an additional 266 shares during the period. Benjamin Edwards Inc. increased its position in Roku by 43.5% in the 1st quarter. Benjamin Edwards Inc. now owns 617 shares of the company’s stock valued at $40,000 after acquiring an additional 187 shares during the period. Geneos Wealth Management Inc. increased its position in Roku by 835.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 683 shares of the company’s stock valued at $45,000 after acquiring an additional 610 shares during the period. Natixis acquired a new position in Roku in the 1st quarter valued at about $53,000. Finally, Versant Capital Management Inc increased its position in Roku by 706.2% during the 2nd quarter. Versant Capital Management Inc now owns 911 shares of the company’s stock worth $55,000 after purchasing an additional 798 shares during the period. 86.30% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Dan Jedda sold 1,000 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $75.33, for a total transaction of $75,330.00. Following the completion of the transaction, the chief financial officer now owns 54,267 shares of the company’s stock, valued at approximately $4,087,933.11. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Roku news, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the completion of the sale, the chief executive officer now owns 5,020 shares of the company’s stock, valued at $376,500. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Dan Jedda sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $75.33, for a total value of $75,330.00. Following the completion of the transaction, the chief financial officer now owns 54,267 shares in the company, valued at $4,087,933.11. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 46,945 shares of company stock worth $3,465,135. 13.98% of the stock is owned by company insiders.

Roku Stock Performance

ROKU stock opened at $73.80 on Tuesday. Roku, Inc. has a 1 year low of $48.33 and a 1 year high of $108.84. The stock’s 50 day moving average price is $63.56 and its 200 day moving average price is $61.22. The firm has a market cap of $10.64 billion, a P/E ratio of -18.50 and a beta of 2.06.

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

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ROKU. Guggenheim upgraded Roku from a “neutral” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Friday, August 23rd. Needham & Company LLC reiterated a “buy” rating and set a $100.00 target price on shares of Roku in a research report on Friday, September 13th. Wedbush reiterated an “outperform” rating and set a $75.00 target price on shares of Roku in a research report on Friday, August 2nd. JPMorgan Chase & Co. boosted their target price on Roku from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 18th. Finally, Wells Fargo & Company upgraded Roku from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $50.00 to $72.00 in a research 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 given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $78.75.

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.