Allspring Global Investments Holdings LLC Buys 160,152 Shares of Roku, Inc. (NASDAQ:ROKU)

Allspring Global Investments Holdings LLC raised its holdings in shares of Roku, Inc. (NASDAQ:ROKU) by 4,720.1% in the first quarter, Holdings Channel reports. The institutional investor owned 163,545 shares of the company’s stock after buying an additional 160,152 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Roku were worth $11,546,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the business. Sanctuary Advisors LLC bought a new stake in shares of Roku during the fourth quarter valued at approximately $218,000. Oppenheimer & Co. Inc. bought a new stake in Roku in the fourth quarter valued at $201,000. QRG Capital Management Inc. grew its position in Roku by 8.9% in the fourth quarter. QRG Capital Management Inc. now owns 3,122 shares of the company’s stock valued at $232,000 after acquiring an additional 254 shares during the period. US Bancorp DE boosted its stake in Roku by 55.8% in the fourth quarter. US Bancorp DE now owns 4,813 shares of the company’s stock worth $358,000 after purchasing an additional 1,723 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in Roku by 47.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 785 shares of the company’s stock worth $59,000 after purchasing an additional 251 shares in the last quarter. 86.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ROKU. UBS Group reduced their price objective on Roku from $90.00 to $72.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 15th. Pivotal Research cut their target price on Roku from $125.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. Redburn Atlantic upgraded Roku from a “neutral” rating to a “buy” rating and set a $100.00 price target for the company in a report on Monday, April 7th. JMP Securities restated a “market outperform” rating and issued a $95.00 price target on shares of Roku in a report on Tuesday, June 17th. Finally, Compass Point assumed coverage on Roku in a report on Sunday, March 23rd. They set a “buy” rating for the company. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $90.37.

Insider Activity

In other Roku news, CFO Dan Jedda sold 1,500 shares of the firm’s stock in a transaction on Monday, June 16th. The stock was sold at an average price of $81.32, for a total transaction of $121,980.00. Following the transaction, the chief financial officer owned 80,632 shares in the company, valued at $6,556,994.24. This trade represents a 1.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mai Fyfield sold 914 shares of Roku stock in a transaction on Friday, June 6th. The shares were sold at an average price of $78.50, for a total value of $71,749.00. Following the completion of the transaction, the director owned 4,374 shares in the company, valued at approximately $343,359. The trade was a 17.28% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 64,020 shares of company stock worth $4,979,594. 13.98% of the stock is currently owned by insiders.

Roku Trading Up 2.0%

NASDAQ:ROKU opened at $88.12 on Friday. The stock has a market cap of $12.86 billion, a P/E ratio of -120.72 and a beta of 2.12. The stock has a 50 day simple moving average of $74.15 and a 200 day simple moving average of $75.29. Roku, Inc. has a 1-year low of $48.33 and a 1-year high of $104.96.

Roku (NASDAQ:ROKU) last released its quarterly earnings results on Thursday, May 1st. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.08. Roku had a negative return on equity of 4.29% and a negative net margin of 2.49%. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same period last year, the firm posted ($0.35) EPS. The firm’s revenue for the quarter was up 15.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Roku, Inc. will post -0.3 EPS for the current year.

Roku Profile

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.