Truist Financial Corp Increases Position in Roku, Inc. (NASDAQ:ROKU)

Truist Financial Corp raised its position in Roku, Inc. (NASDAQ:ROKUGet Rating) by 28.8% during the third quarter, Holdings Channel reports. The firm owned 10,238 shares of the company’s stock after buying an additional 2,289 shares during the quarter. Truist Financial Corp’s holdings in Roku were worth $578,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Glassman Wealth Services raised its position in Roku by 334.3% in the second quarter. Glassman Wealth Services now owns 304 shares of the company’s stock valued at $25,000 after purchasing an additional 234 shares during the period. Bellwether Advisors LLC raised its position in Roku by 1,757.1% in the second quarter. Bellwether Advisors LLC now owns 390 shares of the company’s stock valued at $32,000 after purchasing an additional 369 shares during the period. Mine & Arao Wealth Creation & Management LLC. raised its position in Roku by 8,000.0% in the second quarter. Mine & Arao Wealth Creation & Management LLC. now owns 405 shares of the company’s stock valued at $33,000 after purchasing an additional 400 shares during the period. North Star Investment Management Corp. raised its position in Roku by 193.5% in the second quarter. North Star Investment Management Corp. now owns 455 shares of the company’s stock valued at $37,000 after purchasing an additional 300 shares during the period. Finally, Sterling Investment Advisors Ltd. raised its position in Roku by 615.4% in the second quarter. Sterling Investment Advisors Ltd. now owns 465 shares of the company’s stock valued at $38,000 after purchasing an additional 400 shares during the period. Hedge funds and other institutional investors own 66.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ROKU. DA Davidson cut their target price on Roku from $130.00 to $80.00 in a research report on Thursday, November 3rd. Jefferies Financial Group lowered Roku from a “hold” rating to an “underperform” rating and cut their price objective for the stock from $45.00 to $30.00 in a research report on Thursday, January 12th. Morgan Stanley cut their price objective on Roku from $50.00 to $45.00 and set an “underweight” rating on the stock in a research report on Thursday, November 3rd. Guggenheim lowered Roku from a “buy” rating to a “neutral” rating in a research report on Thursday, November 3rd. Finally, Rosenblatt Securities lowered Roku from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $100.00 to $51.00 in a research report on Thursday, November 3rd. Six investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Roku currently has a consensus rating of “Hold” and an average target price of $87.36.

Roku Stock Up 4.9 %

ROKU opened at $52.39 on Monday. The firm has a market cap of $7.30 billion, a price-to-earnings ratio of -30.46 and a beta of 1.61. Roku, Inc. has a 52 week low of $38.26 and a 52 week high of $177.96. The business’s 50 day moving average is $49.61 and its two-hundred day moving average is $61.75.

Roku (NASDAQ:ROKUGet Rating) last released its quarterly 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 company had revenue of $761.37 million for the quarter, compared to analyst estimates of $698.93 million. Roku had a negative return on equity of 8.50% and a negative net margin of 7.59%. Equities analysts expect that Roku, Inc. will post -3.63 EPS for the current fiscal year.

Insiders Place Their Bets

In other Roku news, SVP Gilbert Fuchsberg sold 2,040 shares of Roku stock in a transaction that occurred on Thursday, December 1st. The stock was sold at an average price of $59.16, for a total transaction of $120,686.40. Following the transaction, the senior vice president now owns 32,645 shares of the company’s stock, valued at $1,931,278.20. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, SVP Gilbert Fuchsberg sold 2,040 shares of the business’s stock in a transaction that occurred on Thursday, December 1st. The stock was sold at an average price of $59.16, for a total value of $120,686.40. Following the transaction, the senior vice president now owns 32,645 shares of the company’s stock, valued at $1,931,278.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Stephen H. Kay sold 1,469 shares of the business’s stock in a transaction that occurred on Wednesday, November 16th. The shares were sold at an average price of $56.46, for a total value of $82,939.74. Following the completion of the transaction, the senior vice president now directly owns 81,290 shares in the company, valued at approximately $4,589,633.40. The disclosure for this sale can be found here. Insiders have 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 Company Profile

(Get Rating)

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.

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Institutional Ownership by Quarter for Roku (NASDAQ:ROKU)

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