Proem Advisors LLC bought a new stake in Roku, Inc. (NASDAQ:ROKU – Get Rating) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 17,000 shares of the company’s stock, valued at approximately $959,000. Roku comprises about 1.6% of Proem Advisors LLC’s investment portfolio, making the stock its 17th biggest holding.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in ROKU. Renaissance Technologies LLC increased its stake in Roku by 772.1% during the first quarter. Renaissance Technologies LLC now owns 2,808,100 shares of the company’s stock worth $351,771,000 after acquiring an additional 2,486,100 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Roku by 97.2% in the first quarter. Wellington Management Group LLP now owns 4,174,003 shares of the company’s stock worth $522,878,000 after buying an additional 2,057,633 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Roku by 23.5% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,403,422 shares of the company’s stock worth $417,553,000 after buying an additional 1,408,323 shares during the period. Nikko Asset Management Americas Inc. boosted its position in shares of Roku by 31.1% in the second quarter. Nikko Asset Management Americas Inc. now owns 5,664,840 shares of the company’s stock worth $462,251,000 after buying an additional 1,344,218 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of Roku by 4.3% in the first quarter. Vanguard Group Inc. now owns 10,483,460 shares of the company’s stock worth $1,313,263,000 after buying an additional 434,663 shares during the period. 66.11% of the stock is currently owned by institutional investors and hedge funds.
Roku Price Performance
Shares of ROKU traded up $5.15 during trading hours on Thursday, hitting $65.20. 6,273,569 shares of the company were exchanged, compared to its average volume of 7,167,898. The company has a market capitalization of $9.08 billion, a PE ratio of -38.48 and a beta of 1.80. The firm has a fifty day simple moving average of $49.38 and a 200-day simple moving average of $60.08. Roku, Inc. has a one year low of $38.26 and a one year high of $177.96.
Roku (NASDAQ:ROKU – Get Rating) last issued its earnings results on Wednesday, November 2nd. The company reported ($0.88) EPS for the quarter, topping the consensus estimate of ($1.37) by $0.49. The business had revenue of $761.37 million during the quarter, compared to analysts’ expectations of $698.93 million. Roku had a negative return on equity of 8.50% and a negative net margin of 7.59%. Sell-side analysts expect that Roku, Inc. will post -3.65 EPS for the current year.
Analyst Ratings Changes
ROKU has been the subject of several analyst reports. DA Davidson decreased their target price on Roku from $130.00 to $80.00 in a research report on Thursday, November 3rd. Rosenblatt Securities downgraded Roku from a “buy” rating to a “neutral” rating and reduced their price target for the company from $100.00 to $51.00 in a report on Thursday, November 3rd. Pivotal Research reduced their target price on Roku from $60.00 to $40.00 and set a “sell” rating on the stock in a report on Thursday, November 3rd. Truist Financial downgraded Roku from a “buy” rating to a “hold” rating and reduced their target price for the stock from $90.00 to $50.00 in a report on Tuesday, January 17th. Finally, Citigroup reduced their target price on Roku from $125.00 to $80.00 in a report on Friday, November 4th. Six equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $87.36.
Insider Transactions at Roku
In related news, insider Gidon Katz sold 7,010 shares of the stock in a transaction on Wednesday, November 16th. The stock was sold at an average price of $56.46, for a total transaction of $395,784.60. Following the completion of the sale, the insider now directly owns 13,917 shares in the company, valued at $785,753.82. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Roku news, insider Gidon Katz sold 7,010 shares of the firm’s stock in a transaction dated Wednesday, November 16th. The stock was sold at an average price of $56.46, for a total transaction of $395,784.60. Following the transaction, the insider now directly owns 13,917 shares in the company, valued at $785,753.82. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Stephen H. Kay sold 1,469 shares of the firm’s stock in a transaction dated Wednesday, November 16th. The shares were sold at an average price of $56.46, for a total value of $82,939.74. Following the transaction, the senior vice president now owns 81,290 shares in the company, valued at $4,589,633.40. The disclosure for this sale can be found here. Insiders sold a total of 10,519 shares of company stock valued at $599,411 over the last quarter. Company insiders own 13.79% of the company’s stock.
Roku Profile
Roku, Inc engages in the provision of a streaming platform for television. It operates through the following business segments: Platform and Player. The Platform segment includes digital advertising and related services including the OneView ad platform, content distribution, and licensing arrangements with service operators and TV brands.