State Street Corp Has $197.52 Million Stock Position in Roku, Inc. (NASDAQ:ROKU)

State Street Corp lifted its stake in shares of Roku, Inc. (NASDAQ:ROKU) by 0.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,645,616 shares of the company’s stock after purchasing an additional 3,610 shares during the period. State Street Corp owned 1.82% of Roku worth $197,522,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in ROKU. Sequoia Financial Advisors LLC grew its holdings in Roku by 6.4% during the second quarter. Sequoia Financial Advisors LLC now owns 4,519 shares of the company’s stock worth $271,000 after purchasing an additional 270 shares during the period. Diversified Trust Co acquired a new position in shares of Roku during the 2nd quarter worth approximately $546,000. Wealth Enhancement Advisory Services LLC raised its stake in Roku by 19.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 6,836 shares of the company’s stock valued at $410,000 after acquiring an additional 1,131 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Roku by 36.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 147,691 shares of the company’s stock valued at $8,851,000 after purchasing an additional 39,111 shares during the last quarter. Finally, Blue Trust Inc. boosted its position in Roku by 3,310.5% during the second quarter. Blue Trust Inc. now owns 2,592 shares of the company’s stock worth $169,000 after purchasing an additional 2,516 shares during the period. Institutional investors and hedge funds own 86.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ROKU shares. Piper Sandler raised their target price on shares of Roku from $60.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Moffett Nathanson upgraded Roku from a “sell” rating to a “neutral” rating and set a $80.00 price objective for the company in a report on Tuesday, October 1st. Morgan Stanley increased their target price on Roku from $60.00 to $65.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 29th. UBS Group started coverage on Roku in a research note on Friday, November 22nd. They issued a “neutral” rating and a $73.00 price target for the company. Finally, Robert W. Baird upgraded Roku from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $70.00 to $90.00 in a research report on Monday, November 18th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Roku has an average rating of “Moderate Buy” and a consensus price target of $83.81.

Insider Transactions at Roku

In other news, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $77.20, for a total transaction of $1,930,000.00. Following the completion of the sale, the chief executive officer now owns 5,020 shares in the company, valued at $387,544. The trade was a 83.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Dan Jedda sold 1,000 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $76.25, for a total transaction of $76,250.00. Following the sale, the chief financial officer now owns 53,267 shares of the company’s stock, valued at $4,061,608.75. This trade represents a 1.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 73,096 shares of company stock worth $5,653,823 over the last three months. 13.98% of the stock is owned by company insiders.

Roku Stock Performance

Shares of NASDAQ:ROKU opened at $81.90 on Friday. Roku, Inc. has a 52-week low of $48.33 and a 52-week high of $108.84. The company has a market capitalization of $11.89 billion, a PE ratio of -68.25 and a beta of 2.06. The company has a fifty day moving average of $74.86 and a 200-day moving average of $66.70.

Roku (NASDAQ:ROKU) last posted its earnings results on Wednesday, October 30th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.35) by $0.29. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. Roku had a negative return on equity of 7.22% and a negative net margin of 4.42%. The business’s quarterly revenue was up 16.5% on a year-over-year basis. During the same period last year, the company earned ($2.33) earnings per share. On average, equities analysts forecast that Roku, Inc. will post -1.1 EPS for the current fiscal year.

About Roku

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.