Allspring Global Investments Holdings LLC Reduces Position in Roku, Inc. $ROKU

Allspring Global Investments Holdings LLC trimmed its stake in Roku, Inc. (NASDAQ:ROKU) by 3.1% in the first quarter, HoldingsChannel.com reports. The fund owned 121,785 shares of the company’s stock after selling 3,848 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Roku were worth $11,557,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Empowered Funds LLC boosted its stake in shares of Roku by 18.6% during the 1st quarter. Empowered Funds LLC now owns 3,291 shares of the company’s stock worth $232,000 after purchasing an additional 515 shares during the last quarter. Focus Partners Wealth purchased a new stake in shares of Roku during the first quarter worth about $229,000. EverSource Wealth Advisors LLC raised its position in shares of Roku by 145.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,394 shares of the company’s stock valued at $123,000 after buying an additional 826 shares during the last quarter. First Trust Advisors LP raised its position in shares of Roku by 231.0% in the second quarter. First Trust Advisors LP now owns 70,786 shares of the company’s stock valued at $6,221,000 after buying an additional 49,399 shares during the last quarter. Finally, Brown Advisory Inc. purchased a new position in shares of Roku during the second quarter valued at approximately $326,000. 86.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Benchmark raised their target price on shares of Roku from $130.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Oppenheimer lowered Roku from an “outperform” rating to a “market perform” rating in a research note on Monday, June 15th. KeyCorp cut Roku from an “overweight” rating to a “sector weight” rating in a report on Monday, June 15th. UBS Group set a $160.00 price objective on Roku in a research report on Monday, June 15th. Finally, Wolfe Research lowered Roku from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, June 16th. Ten research analysts have rated the stock with a Buy rating and seventeen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $155.12.

Insiders Place Their Bets

In other Roku news, insider Gilbert Fuchsberg sold 9,593 shares of the company’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $125.52, for a total transaction of $1,204,113.36. Following the completion of the sale, the insider directly owned 50,863 shares in the company, valued at $6,384,323.76. This represents a 15.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Charles Collier sold 20,538 shares of the firm’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $124.23, for a total value of $2,551,435.74. Following the completion of the transaction, the insider owned 7,700 shares in the company, valued at approximately $956,571. This trade represents a 72.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 236,499 shares of company stock worth $30,582,963. Corporate insiders own 13.45% of the company’s stock.

Roku Stock Performance

Shares of ROKU stock opened at $143.08 on Thursday. Roku, Inc. has a one year low of $78.53 and a one year high of $148.88. The company has a 50 day moving average price of $133.72 and a 200 day moving average price of $113.28. The firm has a market capitalization of $21.09 billion, a price-to-earnings ratio of 107.58 and a beta of 2.01.

Roku (NASDAQ:ROKU) last posted its quarterly earnings results on Thursday, April 30th. The company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.23. Roku had a net margin of 4.06% and a return on equity of 7.64%. The company had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter last year, the firm posted ($0.19) earnings per share. Roku’s revenue was up 22.4% on a year-over-year basis. As a group, equities analysts forecast that Roku, Inc. will post 2.41 EPS for the current fiscal year.

Roku Company Profile

Roku, Inc (NASDAQ: ROKU) is a technology company that develops and operates a proprietary streaming platform designed to deliver entertainment content to consumers via internet-connected devices and smart televisions. Since its inception in 2002 in California, Roku has focused on simplifying access to streaming services for viewers worldwide. The company’s platform enables users to discover, access and manage a wide array of over-the-top content from major streaming services, free ad-supported channels and niche providers.

At the core of Roku’s product lineup are a range of streaming players and sticks, which connect to televisions via HDMI and deliver the Roku OS experience.