Principal Financial Group Inc. Raises Holdings in Roku, Inc. (NASDAQ:ROKU)

Principal Financial Group Inc. grew its stake in Roku, Inc. (NASDAQ:ROKU) by 1,107.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 103,032 shares of the company’s stock after buying an additional 94,497 shares during the quarter. Principal Financial Group Inc. owned 0.07% of Roku worth $7,659,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Game Plan Financial Advisors LLC purchased a new position in Roku in the fourth quarter worth approximately $37,000. Allworth Financial LP raised its holdings in shares of Roku by 52.8% in the 4th quarter. Allworth Financial LP now owns 634 shares of the company’s stock valued at $50,000 after purchasing an additional 219 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of Roku by 2.8% in the 4th quarter. Rhumbline Advisers now owns 141,348 shares of the company’s stock valued at $10,508,000 after purchasing an additional 3,795 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in shares of Roku during the 4th quarter worth $233,000. Finally, Van ECK Associates Corp acquired a new position in shares of Roku during the fourth quarter worth $675,000. 86.30% of the stock is owned by institutional investors and hedge funds.

Roku Stock Up 2.5 %

Shares of ROKU stock opened at $83.51 on Friday. The stock’s 50-day moving average price is $82.14 and its 200 day moving average price is $76.08. The stock has a market capitalization of $12.19 billion, a PE ratio of -93.83 and a beta of 2.05. Roku, Inc. has a 52-week low of $48.33 and a 52-week high of $104.96.

Roku (NASDAQ:ROKU) last announced its earnings results on Thursday, February 13th. The company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.20. Roku had a negative return on equity of 5.34% and a negative net margin of 3.15%. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.15 billion. Analysts expect that Roku, Inc. will post -0.3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ROKU. UBS Group raised their price target on Roku from $73.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Rosenblatt Securities reissued a “neutral” rating and set a $86.00 target price on shares of Roku in a research report on Thursday, February 13th. Loop Capital upped their price target on Roku from $70.00 to $80.00 and gave the company a “hold” rating in a report on Monday, December 9th. Robert W. Baird upgraded shares of Roku from a “neutral” rating to an “outperform” rating and increased their price target for the company from $70.00 to $90.00 in a research note on Monday, November 18th. Finally, Moffett Nathanson downgraded shares of Roku from a “neutral” rating to a “sell” rating and set a $55.00 price objective for the company. in a research report on Friday, January 10th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $96.00.

Insider Buying and Selling at Roku

In related news, CFO Dan Jedda sold 1,000 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $82.73, for a total transaction of $82,730.00. Following the completion of the transaction, the chief financial officer now directly owns 64,555 shares of the company’s stock, valued at $5,340,635.15. This represents a 1.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $82.64, for a total value of $2,066,000.00. Following the completion of the sale, the chief executive officer now directly owns 26,538 shares in the company, valued at $2,193,100.32. This represents a 48.51 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 109,432 shares of company stock valued at $9,661,783. 13.98% of the stock is owned by company 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.