Wealth Enhancement Advisory Services LLC Purchases 4,522 Shares of Roku, Inc. (NASDAQ:ROKU)

Wealth Enhancement Advisory Services LLC grew its position in Roku, Inc. (NASDAQ:ROKU) by 72.6% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 10,747 shares of the company’s stock after purchasing an additional 4,522 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Roku were worth $757,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in ROKU. Farther Finance Advisors LLC raised its holdings in shares of Roku by 23.9% in the fourth quarter. Farther Finance Advisors LLC now owns 627 shares of the company’s stock valued at $47,000 after acquiring an additional 121 shares in the last quarter. United Advisor Group LLC increased its position in Roku by 0.9% during the 4th quarter. United Advisor Group LLC now owns 14,430 shares of the company’s stock valued at $1,073,000 after purchasing an additional 130 shares during the period. Cerity Partners LLC increased its position in Roku by 0.5% during the 4th quarter. Cerity Partners LLC now owns 26,679 shares of the company’s stock valued at $1,984,000 after purchasing an additional 145 shares during the period. Smartleaf Asset Management LLC increased its position in Roku by 47.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 785 shares of the company’s stock valued at $59,000 after purchasing an additional 251 shares during the period. Finally, QRG Capital Management Inc. raised its holdings in shares of Roku by 8.9% in the 4th quarter. QRG Capital Management Inc. now owns 3,122 shares of the company’s stock valued at $232,000 after purchasing an additional 254 shares in the last quarter. Institutional investors own 86.30% of the company’s stock.

Roku Stock Performance

Shares of ROKU stock opened at $88.12 on Friday. Roku, Inc. has a fifty-two week low of $48.33 and a fifty-two week high of $104.96. The firm has a market capitalization of $12.86 billion, a price-to-earnings ratio of -120.72 and a beta of 2.12. The stock’s 50-day simple moving average is $74.15 and its 200-day simple moving average is $75.29.

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

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ROKU. Benchmark reiterated a “buy” rating and set a $130.00 price objective on shares of Roku in a research note on Friday, May 2nd. Bank of America upped their target price on Roku from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday. JPMorgan Chase & Co. increased their target price on Roku from $75.00 to $85.00 and gave the company an “overweight” rating in a research report on Tuesday, June 3rd. Loop Capital upgraded Roku from a “hold” rating to a “buy” rating and lifted their price target for the company from $80.00 to $100.00 in a report on Tuesday, June 17th. Finally, Guggenheim reissued a “buy” rating and issued a $100.00 price target on shares of Roku in a research report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Roku presently has a consensus rating of “Moderate Buy” and an average target price of $90.37.

Insiders Place Their Bets

In other news, CFO Dan Jedda sold 1,500 shares of the business’s stock in a transaction on Monday, June 16th. The shares were sold at an average price of $81.32, for a total transaction of $121,980.00. Following the sale, the chief financial officer directly owned 80,632 shares of the company’s stock, valued at $6,556,994.24. The trade was a 1.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Matthew C. Banks sold 629 shares of the company’s stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $72.98, for a total value of $45,904.42. Following the completion of the transaction, the chief accounting officer directly owned 8,555 shares in the company, valued at approximately $624,343.90. The trade was a 6.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 64,020 shares of company stock valued at $4,979,594. Corporate insiders own 13.98% of the company’s stock.

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.