IQ EQ FUND MANAGEMENT IRELAND Ltd Invests $575,000 in Roku, Inc. (NASDAQ:ROKU)

IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new stake in shares of Roku, Inc. (NASDAQ:ROKU - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 9,588 shares of the company's stock, valued at approximately $575,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its stake in Roku by 13,592.0% during the 4th quarter. International Assets Investment Management LLC now owns 132,265 shares of the company's stock valued at $12,123,000 after acquiring an additional 131,299 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Roku by 1,822.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 596 shares of the company's stock worth $55,000 after buying an additional 565 shares in the last quarter. Federated Hermes Inc. raised its position in shares of Roku by 152.3% during the fourth quarter. Federated Hermes Inc. now owns 1,327 shares of the company's stock valued at $122,000 after buying an additional 801 shares during the last quarter. New York State Common Retirement Fund increased its holdings in shares of Roku by 36.2% in the fourth quarter. New York State Common Retirement Fund now owns 153,513 shares of the company's stock worth $14,071,000 after purchasing an additional 40,768 shares during the last quarter. Finally, GAMMA Investing LLC purchased a new stake in shares of Roku during the 4th quarter worth approximately $27,000. Institutional investors own 86.30% of the company's stock.

Insider Transactions at Roku

In related news, insider Charles Collier sold 7,181 shares of the company's stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $57.03, for a total transaction of $409,532.43. Following the transaction, the insider now directly owns 15,654 shares of the company's stock, valued at approximately $892,747.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, SVP Stephen H. Kay sold 3,322 shares of Roku stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $57.09, for a total transaction of $189,652.98. Following the completion of the sale, the senior vice president now directly owns 82,036 shares in the company, valued at $4,683,435.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Charles Collier sold 7,181 shares of the business's stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $57.03, for a total transaction of $409,532.43. Following the sale, the insider now directly owns 15,654 shares in the company, valued at $892,747.62. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,075 shares of company stock valued at $1,556,005. Corporate insiders own 13.98% of the company's stock.

Roku Stock Down 1.0 %

Shares of NASDAQ ROKU traded down $0.67 during mid-day trading on Friday, reaching $67.77. 6,086,625 shares of the company were exchanged, compared to its average volume of 4,659,347. The stock has a market cap of $9.77 billion, a price-to-earnings ratio of -16.22 and a beta of 1.96. The firm has a 50-day moving average of $59.98 and a 200 day moving average of $61.40. Roku, Inc. has a 1 year low of $48.33 and a 1 year high of $108.84.

Roku (NASDAQ:ROKU - Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.24) earnings per share for the quarter, beating analysts' consensus estimates of ($0.45) by $0.21. Roku had a negative net margin of 13.16% and a negative return on equity of 21.03%. The business had revenue of $968.18 million for the quarter, compared to analysts' expectations of $937.78 million. During the same period last year, the business earned ($0.76) EPS. The company's revenue was up 14.3% compared to the same quarter last year. On average, equities analysts forecast that Roku, Inc. will post -1.45 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Guggenheim upgraded shares of Roku from a "neutral" rating to a "buy" rating and set a $75.00 price objective for the company in a research report on Friday, August 23rd. Macquarie reduced their price objective on shares of Roku from $88.00 to $72.00 and set an "outperform" rating on the stock in a research report on Friday, August 2nd. Jefferies Financial Group initiated coverage on Roku in a research report on Thursday, May 2nd. They set an "underperform" rating and a $50.00 target price for the company. Rosenblatt Securities reduced their price target on Roku from $89.00 to $61.00 and set a "neutral" rating on the stock in a report on Friday, August 2nd. Finally, Wedbush reissued an "outperform" rating and set a $75.00 price target on shares of Roku in a research note on Friday, August 2nd. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $79.50.

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.