Envestnet Asset Management Inc. Increases Position in Roku, Inc. (NASDAQ:ROKU)

Envestnet Asset Management Inc. raised its holdings in Roku, Inc. (NASDAQ:ROKU – Get Rating) by 4.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 23,942 shares of the company’s stock after purchasing an additional 1,092 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Roku were worth $974,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Brighton Jones LLC boosted its holdings in Roku by 8.6% in the first quarter. Brighton Jones LLC now owns 1,874 shares of the company’s stock valued at $235,000 after purchasing an additional 148 shares during the last quarter. IHT Wealth Management LLC boosted its holdings in Roku by 4.0% in the first quarter. IHT Wealth Management LLC now owns 4,060 shares of the company’s stock valued at $509,000 after purchasing an additional 157 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in Roku by 8.5% in the first quarter. Advisors Asset Management Inc. now owns 2,222 shares of the company’s stock valued at $278,000 after purchasing an additional 175 shares during the last quarter. Equitable Holdings Inc. boosted its holdings in Roku by 6.6% in the first quarter. Equitable Holdings Inc. now owns 3,041 shares of the company’s stock valued at $381,000 after purchasing an additional 188 shares during the last quarter. Finally, Utah Retirement Systems boosted its holdings in Roku by 1.0% in the third quarter. Utah Retirement Systems now owns 21,144 shares of the company’s stock valued at $1,193,000 after purchasing an additional 200 shares during the last quarter. 66.11% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Roku

In other Roku news, insider Mustafa Ozgen sold 8,812 shares of the stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $61.93, for a total transaction of $545,727.16. Following the transaction, the insider now owns 25,338 shares of the company’s stock, valued at $1,569,182.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Roku news, insider Gidon Katz sold 3,694 shares of the firm’s stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $57.50, for a total transaction of $212,405.00. Following the completion of the transaction, the insider now directly owns 15,450 shares of the company’s stock, valued at approximately $888,375. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Mustafa Ozgen sold 8,812 shares of the firm’s stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $61.93, for a total transaction of $545,727.16. Following the transaction, the insider now directly owns 25,338 shares of the company’s stock, valued at $1,569,182.34. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,748 shares of company stock valued at $958,909. Company insiders own 13.79% of the company’s stock.

Roku Price Performance

Shares of NASDAQ ROKU opened at $54.58 on Friday. The company has a market capitalization of $7.68 billion, a P/E ratio of -11.42 and a beta of 1.72. The company has a 50 day simple moving average of $59.49 and a 200-day simple moving average of $56.29. Roku, Inc. has a 1 year low of $38.26 and a 1 year high of $105.85.

Roku (NASDAQ:ROKU – Get Rating) last posted its quarterly earnings data on Wednesday, April 26th. The company reported ($1.38) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.44) by $0.06. Roku had a negative net margin of 21.23% and a negative return on equity of 24.71%. The firm had revenue of $741.00 million during the quarter, compared to analysts’ expectations of $707.59 million. During the same quarter last year, the company posted ($0.19) EPS. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. As a group, research analysts expect that Roku, Inc. will post -5.23 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Wells Fargo & Company lowered their price target on shares of Roku from $67.00 to $63.00 and set an “equal weight” rating on the stock in a report on Thursday, April 27th. Robert W. Baird started coverage on shares of Roku in a research note on Tuesday, April 11th. They set a “neutral” rating and a $71.00 target price on the stock. Jefferies Financial Group increased their target price on shares of Roku from $36.00 to $41.00 and gave the stock an “underperform” rating in a research note on Thursday, April 27th. Bank of America increased their target price on shares of Roku from $85.00 to $86.00 and gave the stock a “buy” rating in a research note on Thursday, April 27th. Finally, Susquehanna raised shares of Roku from a “neutral” rating to a “positive” rating and set a $75.00 target price on the stock in a research note on Monday, March 27th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Roku presently has an average rating of “Hold” and an average target price of $71.04.

About Roku

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Roku, Inc engages in the provision of a streaming platform for television. It operates through the Platform and Devices segments. The Platform segment includes digital advertising and related services including the demand-side platform and content distribution services such as subscription and transaction revenue shares, media and entertainment promotional spending, the sale of premium subscriptions, and the sale of branded channel buttons on remote controls.