Newbridge Financial Services Group Inc. lessened its stake in shares of Roku, Inc. (NASDAQ:ROKU – Get Rating) by 5.2% during the second quarter, Holdings Channel.com reports. The fund owned 10,503 shares of the company’s stock after selling 573 shares during the period. Newbridge Financial Services Group Inc.’s holdings in Roku were worth $863,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Credit Agricole S A lifted its stake in Roku by 60.0% during the fourth quarter. Credit Agricole S A now owns 168 shares of the company’s stock worth $38,000 after purchasing an additional 63 shares during the last quarter. Clearstead Advisors LLC lifted its position in shares of Roku by 29.1% during the 4th quarter. Clearstead Advisors LLC now owns 288 shares of the company’s stock worth $66,000 after buying an additional 65 shares during the last quarter. Cornerstone Wealth Management LLC boosted its stake in Roku by 7.3% in the fourth quarter. Cornerstone Wealth Management LLC now owns 1,203 shares of the company’s stock valued at $272,000 after buying an additional 82 shares in the last quarter. Optimum Investment Advisors grew its position in Roku by 14.6% in the first quarter. Optimum Investment Advisors now owns 786 shares of the company’s stock valued at $98,000 after acquiring an additional 100 shares during the last quarter. Finally, Clarity Wealth Advisors LLC raised its stake in Roku by 4.2% during the first quarter. Clarity Wealth Advisors LLC now owns 2,495 shares of the company’s stock worth $312,000 after acquiring an additional 100 shares in the last quarter. 66.86% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several brokerages recently issued reports on ROKU. Citigroup decreased their price target on shares of Roku from $165.00 to $125.00 and set a “buy” rating on the stock in a report on Wednesday, August 3rd. Pivotal Research upgraded shares of Roku from a “sell” rating to a “hold” rating and set a $60.00 price target for the company in a report on Thursday, September 8th. Guggenheim dropped their price target on Roku from $145.00 to $115.00 and set a “buy” rating for the company in a research note on Tuesday, July 12th. DA Davidson reduced their price objective on Roku from $170.00 to $130.00 in a research report on Friday, July 29th. Finally, Wolfe Research downgraded Roku from a “market perform” rating to an “underperform” rating and set a $77.00 target price for the company. in a research report on Tuesday, July 26th. Six analysts have rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Roku presently has an average rating of “Hold” and an average target price of $138.54.
Roku Trading Down 2.7 %
Roku (NASDAQ:ROKU – Get Rating) last issued its earnings results on Thursday, July 28th. The company reported ($0.82) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.78) by ($0.04). The business had revenue of $764.00 million during the quarter, compared to the consensus estimate of $804.64 million. Roku had a negative return on equity of 1.66% and a negative net margin of 1.51%. The company’s revenue for the quarter was up 18.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.52 earnings per share. As a group, equities analysts expect that Roku, Inc. will post -3.56 EPS for the current fiscal year.
Roku Company Profile
Roku, Inc, together with its subsidiaries, operates a TV streaming platform. The company operates in two segments, Platform and Player. Its platform allows users to discover and access various movies and TV episodes, as well as live TV, news sports, shows, and others. As of December 31, 2021, the company had 60.1 million active accounts.
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