Glenmede Trust Co. NA Has $23.23 Million Position in Roku, Inc. $ROKU

Glenmede Trust Co. NA boosted its position in Roku, Inc. (NASDAQ:ROKU) by 225.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 245,468 shares of the company’s stock after purchasing an additional 169,960 shares during the quarter. Glenmede Trust Co. NA’s holdings in Roku were worth $23,226,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jefferies Financial Group Inc. acquired a new stake in Roku in the 4th quarter worth about $1,345,000. Moran Wealth Management LLC acquired a new position in shares of Roku during the 1st quarter worth approximately $2,990,000. MH & Associates Securities Management Corp ADV bought a new position in shares of Roku during the fourth quarter worth approximately $2,398,000. Katamaran Capital LLP increased its holdings in shares of Roku by 90.8% during the first quarter. Katamaran Capital LLP now owns 52,548 shares of the company’s stock worth $4,972,000 after purchasing an additional 25,002 shares during the period. Finally, California Public Employees Retirement System raised its position in shares of Roku by 14.8% in the first quarter. California Public Employees Retirement System now owns 260,774 shares of the company’s stock valued at $24,674,000 after buying an additional 33,593 shares in the last quarter. 86.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ROKU. Jefferies Financial Group cut Roku from a “buy” rating to a “hold” rating and set a $160.00 price target for the company. in a research note on Monday, June 15th. Needham & Company LLC lifted their price objective on Roku from $140.00 to $170.00 and gave the company a “buy” rating in a report on Monday, June 15th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Roku in a research report on Friday, May 15th. Citigroup increased their target price on Roku from $120.00 to $157.00 and gave the stock a “neutral” rating in a report on Friday, July 17th. Finally, Morgan Stanley raised their price target on Roku from $150.00 to $170.00 and gave the stock an “overweight” rating in a research report on Thursday, June 4th. Ten investment analysts have rated the stock with a Buy rating and seventeen have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $155.12.

Insiders Place Their Bets

In other Roku news, CFO Dan Jedda sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $143.87, for a total value of $1,007,090.00. Following the transaction, the chief financial officer directly owned 79,963 shares of the company’s stock, valued at approximately $11,504,276.81. The trade was a 8.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Matthew C. Banks sold 554 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $138.88, for a total value of $76,939.52. Following the completion of the transaction, the chief accounting officer directly owned 7,171 shares in the company, valued at approximately $995,908.48. This trade represents a 7.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 224,181 shares of company stock valued at $29,043,628 in the last 90 days. Company insiders own 13.45% of the company’s stock.

Roku Stock Performance

ROKU stock opened at $145.01 on Friday. The company has a market capitalization of $21.38 billion, a P/E ratio of 109.03 and a beta of 2.01. Roku, Inc. has a 52-week low of $78.53 and a 52-week high of $148.88. The company has a fifty day moving average price of $136.45 and a 200-day moving average price of $114.86.

Roku (NASDAQ:ROKU) last issued its quarterly earnings results on Thursday, April 30th. The company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.23. Roku had a net margin of 4.06% and a return on equity of 7.64%. The firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the previous year, the company earned ($0.19) EPS. The company’s revenue for the quarter was up 22.4% on a year-over-year basis. As a group, sell-side analysts forecast that Roku, Inc. will post 2.41 earnings per share for the current fiscal year.

About Roku

Roku, Inc (NASDAQ: ROKU) is a technology company that develops and operates a proprietary streaming platform designed to deliver entertainment content to consumers via internet-connected devices and smart televisions. Since its inception in 2002 in California, Roku has focused on simplifying access to streaming services for viewers worldwide. The company’s platform enables users to discover, access and manage a wide array of over-the-top content from major streaming services, free ad-supported channels and niche providers.

At the core of Roku’s product lineup are a range of streaming players and sticks, which connect to televisions via HDMI and deliver the Roku OS experience.