Roku, Inc. (NASDAQ:ROKU) Shares Purchased by IHT Wealth Management LLC

IHT Wealth Management LLC grew its position in shares of Roku, Inc. (NASDAQ:ROKU - Free Report) by 762.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 29,819 shares of the company's stock after acquiring an additional 26,361 shares during the quarter. IHT Wealth Management LLC's holdings in Roku were worth $2,226,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Future Financial Wealth Managment LLC bought a new stake in Roku during the third quarter worth approximately $43,000. GS Investments Inc. boosted its holdings in shares of Roku by 33.4% in the 3rd quarter. GS Investments Inc. now owns 587 shares of the company's stock worth $44,000 after purchasing an additional 147 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Roku by 123.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company's stock valued at $40,000 after purchasing an additional 375 shares during the last quarter. Cedar Wealth Management LLC purchased a new stake in Roku during the 2nd quarter valued at $48,000. Finally, Venturi Wealth Management LLC lifted its position in Roku by 50.6% in the third quarter. Venturi Wealth Management LLC now owns 991 shares of the company's stock worth $74,000 after buying an additional 333 shares during the last quarter. 86.30% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Roku

In related news, CFO Dan Jedda sold 1,000 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $75.33, for a total transaction of $75,330.00. Following the completion of the sale, the chief financial officer now owns 54,267 shares of the company's stock, valued at $4,087,933.11. This represents a 1.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Charles Collier sold 15,454 shares of the firm's stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $75.00, for a total transaction of $1,159,050.00. Following the completion of the sale, the insider now owns 200 shares of the company's stock, valued at approximately $15,000. This trade represents a 98.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 88,550 shares of company stock valued at $6,621,873 over the last quarter. 13.98% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ROKU. Bank of America increased their target price on shares of Roku from $75.00 to $90.00 and gave the company a "buy" rating in a research note on Monday, September 30th. UBS Group assumed coverage on shares of Roku in a research report on Friday, November 22nd. They issued a "neutral" rating and a $73.00 price objective on the stock. Baird R W upgraded Roku from a "hold" rating to a "strong-buy" rating in a research report on Monday, November 18th. Morgan Stanley increased their price target on Roku from $60.00 to $65.00 and gave the stock an "underweight" rating in a report on Tuesday, October 29th. Finally, JPMorgan Chase & Co. boosted their price objective on Roku from $90.00 to $92.00 and gave the company an "overweight" rating in a report on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $82.62.

Roku Stock Down 1.1 %

Shares of NASDAQ ROKU traded down $0.91 during midday trading on Thursday, reaching $82.03. 4,288,745 shares of the company's stock traded hands, compared to its average volume of 4,446,438. The company has a market cap of $11.91 billion, a price-to-earnings ratio of -68.36 and a beta of 2.06. The stock's 50 day simple moving average is $74.03 and its 200-day simple moving average is $65.83. Roku, Inc. has a one year low of $48.33 and a one year high of $108.84.

Roku (NASDAQ:ROKU - Get Free Report) last announced its earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.35) by $0.29. The business had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.02 billion. Roku had a negative return on equity of 7.22% and a negative net margin of 4.42%. The business's revenue for the quarter was up 16.5% on a year-over-year basis. During the same quarter last year, the firm earned ($2.33) EPS. Equities analysts predict that Roku, Inc. will post -1.1 EPS for the current fiscal year.

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.