Malaga Cove Capital LLC Has $251,000 Position in Roku, Inc. (NASDAQ:ROKU)

Malaga Cove Capital LLC cut its position in shares of Roku, Inc. (NASDAQ:ROKU) by 9.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,735 shares of the company’s stock after selling 270 shares during the quarter. Malaga Cove Capital LLC’s holdings in Roku were worth $251,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Amalgamated Bank lifted its holdings in shares of Roku by 1.0% during the 4th quarter. Amalgamated Bank now owns 19,820 shares of the company’s stock worth $1,817,000 after acquiring an additional 191 shares during the period. Los Angeles Capital Management LLC lifted its stake in Roku by 52.8% during the fourth quarter. Los Angeles Capital Management LLC now owns 66,329 shares of the company’s stock worth $6,080,000 after purchasing an additional 22,934 shares during the period. New York Life Investment Management LLC lifted its stake in Roku by 1.8% during the fourth quarter. New York Life Investment Management LLC now owns 14,563 shares of the company’s stock worth $1,335,000 after purchasing an additional 264 shares during the period. Victory Capital Management Inc. boosted its holdings in Roku by 24.1% during the fourth quarter. Victory Capital Management Inc. now owns 16,754 shares of the company’s stock valued at $1,536,000 after purchasing an additional 3,253 shares in the last quarter. Finally, Mach 1 Financial Group LLC bought a new stake in shares of Roku in the 4th quarter valued at approximately $474,000. 86.30% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Roku

In other Roku news, Director Jeffrey M. Blackburn acquired 8,000 shares of the stock in a transaction dated Wednesday, March 13th. The shares were bought at an average cost of $63.96 per share, for a total transaction of $511,680.00. Following the completion of the acquisition, the director now directly owns 8,000 shares of the company’s stock, valued at $511,680. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, SVP Stephen H. Kay sold 4,310 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $63.20, for a total transaction of $272,392.00. Following the sale, the senior vice president now owns 81,459 shares in the company, valued at $5,148,208.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeffrey M. Blackburn purchased 8,000 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was bought at an average price of $63.96 per share, with a total value of $511,680.00. Following the completion of the purchase, the director now owns 8,000 shares of the company’s stock, valued at $511,680. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 54,751 shares of company stock worth $4,375,835. Corporate insiders own 13.63% of the company’s stock.

Roku Stock Down 1.4 %

Shares of NASDAQ:ROKU traded down $0.84 during midday trading on Friday, reaching $59.11. 3,904,550 shares of the company were exchanged, compared to its average volume of 4,960,037. The firm has a market cap of $8.48 billion, a PE ratio of -14.81 and a beta of 1.69. Roku, Inc. has a fifty-two week low of $51.62 and a fifty-two week high of $108.84. The stock has a fifty day simple moving average of $62.07 and a two-hundred day simple moving average of $78.13.

Roku (NASDAQ:ROKU) last issued its quarterly earnings results on Thursday, April 25th. The company reported ($0.35) EPS for the quarter, beating analysts’ consensus estimates of ($0.64) by $0.29. The company had revenue of $881.50 million for the quarter, compared to analyst estimates of $843.54 million. Roku had a negative return on equity of 23.81% and a negative net margin of 15.64%. The company’s quarterly revenue was up 19.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.38) earnings per share. As a group, analysts forecast that Roku, Inc. will post -1.87 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently commented on ROKU shares. Pivotal Research decreased their price target on Roku from $85.00 to $75.00 and set a “hold” rating on the stock in a research note on Friday, February 16th. Stephens restated an “overweight” rating and issued a $105.00 target price on shares of Roku in a research note on Friday, February 16th. Piper Sandler reiterated a “neutral” rating and set a $65.00 target price (down previously from $81.00) on shares of Roku in a research report on Friday, April 26th. Wells Fargo & Company boosted their price target on shares of Roku from $45.00 to $52.00 and gave the company an “underweight” rating in a research report on Friday, April 26th. Finally, Benchmark dropped their price objective on shares of Roku from $115.00 to $105.00 and set a “buy” rating for the company in a report on Friday, April 26th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $82.50.

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.