Cerity Partners LLC Raises Holdings in Roku, Inc. (NASDAQ:ROKU)

Cerity Partners LLC grew its position in shares of Roku, Inc. (NASDAQ:ROKU) by 15.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,776 shares of the company’s stock after buying an additional 3,940 shares during the period. Cerity Partners LLC’s holdings in Roku were worth $2,638,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Quarry LP purchased a new stake in Roku during the 2nd quarter worth about $25,000. ICA Group Wealth Management LLC purchased a new stake in Roku during the 4th quarter worth about $25,000. Creative Financial Designs Inc. ADV purchased a new stake in Roku during the 4th quarter worth about $29,000. Federated Hermes Inc. purchased a new stake in Roku during the 3rd quarter worth about $37,000. Finally, Headinvest LLC purchased a new stake in Roku during the 3rd quarter worth about $42,000. Hedge funds and other institutional investors own 86.30% of the company’s stock.

Roku Stock Up 1.9 %

Shares of NASDAQ ROKU opened at $58.69 on Friday. The stock’s fifty day simple moving average is $67.19 and its two-hundred day simple moving average is $79.07. Roku, Inc. has a 12-month low of $51.62 and a 12-month high of $108.84.

Roku (NASDAQ:ROKU) last announced its earnings results on Thursday, February 15th. The company reported ($0.55) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.65) by $0.10. The business had revenue of $984.40 million for the quarter, compared to analysts’ expectations of $967.72 million. Roku had a negative return on equity of 29.21% and a negative net margin of 20.36%. The business’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same quarter last year, the firm earned ($1.70) EPS. As a group, equities research analysts anticipate that Roku, Inc. will post -2.12 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Morgan Stanley dropped their price objective on Roku from $65.00 to $60.00 and set an “underweight” rating on the stock in a report on Friday, April 5th. Susquehanna raised their price target on Roku from $100.00 to $110.00 and gave the company a “positive” rating in a report on Friday, February 16th. Stephens reaffirmed an “overweight” rating and issued a $105.00 price target on shares of Roku in a report on Friday, February 16th. Pivotal Research lowered their price target on Roku from $85.00 to $75.00 and set a “hold” rating on the stock in a report on Friday, February 16th. Finally, Citigroup lowered their price target on Roku from $110.00 to $75.00 and set a “neutral” rating on the stock in a report on Wednesday, February 21st. Five research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $86.67.

Insider Buying and Selling at Roku

In other news, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $98.64, for a total value of $2,466,000.00. Following the completion of the sale, the chief executive officer now owns 141,221 shares of the company’s stock, valued at approximately $13,930,039.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Charles Collier sold 12,277 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $65.06, for a total value of $798,741.62. Following the completion of the sale, the insider now owns 4,292 shares of the company’s stock, valued at approximately $279,237.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $98.64, for a total value of $2,466,000.00. Following the completion of the sale, the chief executive officer now directly owns 141,221 shares of the company’s stock, valued at approximately $13,930,039.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,545 shares of company stock valued at $4,364,035. 13.63% of the stock is currently owned by corporate insiders.

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.