Roku, Inc. $ROKU Stock Holdings Boosted by New York Life Investment Management LLC

New York Life Investment Management LLC lifted its holdings in shares of Roku, Inc. (NASDAQ:ROKU) by 289.7% in the third quarter, according to its most recent filing with the SEC. The firm owned 62,409 shares of the company’s stock after acquiring an additional 46,395 shares during the period. New York Life Investment Management LLC’s holdings in Roku were worth $9,504,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Signature Equity Partners LLC increased its stake in Roku by 1,225.0% in the third quarter. Signature Equity Partners LLC now owns 212 shares of the company’s stock valued at $32,000 after acquiring an additional 196 shares during the period. CX Institutional raised its position in Roku by 44.1% in the third quarter. CX Institutional now owns 281 shares of the company’s stock worth $43,000 after purchasing an additional 86 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in Roku in the third quarter worth about $46,000. Elevation Wealth Partners LLC lifted its stake in Roku by 208.7% during the second quarter. Elevation Wealth Partners LLC now owns 318 shares of the company’s stock worth $44,000 after purchasing an additional 215 shares during the period. Finally, Heritage Family Offices LLP bought a new position in Roku during the third quarter worth about $93,000. 86.30% of the stock is owned by institutional investors.

Top Roku Stories

Here are a few of the latest stories about ROKU:

• Positive Sentiment: The Roku Channel is adding five free live-TV channels. A broader lineup could help attract viewers and support advertising on Roku’s streaming service. The Roku Channel just added 5 more free live TV channels
• Neutral Sentiment: Fox is reportedly selling investment-grade bonds to raise funds to repay the bridge loan used for the takeover. This is a financing development; the articles do not detail its impact on Roku’s operations. Fox Launches Bond Sale to Repay Bridge Loan for Roku Takeover
• Negative Sentiment: Roku will stop selling smart-home devices and refocus on streaming. Sharper strategic focus may benefit the core business, but exiting a product category could mean lost sales and changes for existing customers. Roku will stop selling smart home devices and refocus on streaming

Insider Transactions at Roku

In other news, insider Charles Collier sold 20,538 shares of the firm’s stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $156.99, for a total transaction of $3,224,260.62. Following the completion of the sale, the insider owned 22,700 shares of the company’s stock, valued at approximately $3,563,673. This trade represents a 47.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mustafa Ozgen sold 3,410 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $155.64, for a total value of $530,732.40. Following the completion of the transaction, the insider directly owned 25,569 shares in the company, valued at $3,979,559.16. The trade was a 11.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 88,028 shares of company stock valued at $13,645,922. 13.45% of the stock is owned by company insiders.

Analysts Set New Price Targets

ROKU has been the topic of a number of recent research reports. Wells Fargo & Company downgraded Roku from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $167.00 to $165.00 in a report on Friday, August 14th. BMO Capital Markets upgraded Roku from a “market perform” rating to an “outperform” rating in a research note on Tuesday, November 3rd. JPMorgan Chase & Co. assumed coverage on Roku in a report on Monday, August 24th. They issued a “neutral” rating and a $160.00 target price for the company. Zacks Research upgraded Roku from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 11th. Finally, Fox Advisors set a $157.00 price target on Roku in a research note on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seventeen have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $156.22.

Roku Stock Performance

ROKU opened at $159.65 on Thursday. The firm’s 50-day simple moving average is $155.51 and its 200-day simple moving average is $129.72. Roku, Inc. has a twelve month low of $78.53 and a twelve month high of $163.57. The firm has a market cap of $23.69 billion, a price-to-earnings ratio of 47.23 and a beta of 2.12.

Roku (NASDAQ:ROKU) last announced its earnings results on Monday, November 2nd. The company reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.65. Roku had a net margin of 9.34% and a return on equity of 18.65%. The business had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter last year, the company posted $0.16 EPS. The firm’s revenue for the quarter was up 24.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Roku, Inc. will post 3.17 EPS for the current fiscal year.

About Roku

Roku, Inc. provides a streaming platform that connects viewers with television and other digital video content. Its products include streaming players and Roku-branded televisions, as well as the Roku operating system, which the company licenses to television manufacturers. Roku also operates a platform business that supports streaming services and advertisers. Its offerings include the Roku Channel, an ad-supported streaming service, and tools for distributing content and delivering advertising to viewers.