Sumitomo Mitsui Asset Management Company LTD purchased a new stake in Roku Inc (NASDAQ:ROKU) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 624,445 shares of the company’s stock, valued at approximately $40,282,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. James Investment Research Inc. acquired a new stake in shares of Roku in the 1st quarter valued at about $32,000. CWM LLC acquired a new stake in shares of Roku in the 1st quarter valued at about $32,000. Mascoma Wealth Management LLC acquired a new stake in shares of Roku in the 1st quarter valued at about $42,000. Patriot Financial Group Insurance Agency LLC raised its stake in shares of Roku by 700.0% in the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 800 shares of the company’s stock valued at $52,000 after purchasing an additional 700 shares during the period. Finally, We Are One Seven LLC acquired a new stake in shares of Roku in the 4th quarter valued at about $27,000. 44.86% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Jeff Hastings sold 15,000 shares of Roku stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $78.67, for a total transaction of $1,180,050.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Steve Louden sold 100,000 shares of Roku stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $71.00, for a total value of $7,100,000.00. The disclosure for this sale can be found here. Insiders have sold 423,320 shares of company stock valued at $26,403,026 in the last quarter. 22.70% of the stock is currently owned by corporate insiders.
Roku (NASDAQ:ROKU) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.15. Roku had a negative return on equity of 5.29% and a negative net margin of 1.47%. The business had revenue of $206.70 million during the quarter, compared to analysts’ expectations of $189.80 million. During the same quarter last year, the company posted ($0.07) earnings per share. Roku’s quarterly revenue was up 51.3% on a year-over-year basis. On average, sell-side analysts anticipate that Roku Inc will post -0.62 earnings per share for the current fiscal year.
Several analysts have issued reports on ROKU shares. DA Davidson lifted their price target on Roku to $60.00 and gave the company an “average” rating in a research note on Friday, February 22nd. ValuEngine upgraded Roku from a “hold” rating to a “buy” rating in a report on Saturday, February 23rd. Needham & Company LLC raised their price objective on Roku from $45.00 to $65.00 and gave the company a “buy” rating in a report on Friday, February 22nd. Zacks Investment Research upgraded Roku from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a report on Friday, February 22nd. Finally, BidaskClub upgraded Roku from a “hold” rating to a “buy” rating in a report on Wednesday, February 27th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Roku currently has a consensus rating of “Buy” and an average price target of $73.98.
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Roku, Inc operates a TV streaming platform. The company operates in two segments, Platform and Player. Its platform allows users to discover and access various movies and TV episodes, as well as live sports, music, news, and others. As of December 31, 2018, the company had 27.1 million active accounts.
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