Principal Financial Group Inc. Lowers Stake in Roku, Inc. (NASDAQ:ROKU)

Principal Financial Group Inc. cut its stake in Roku, Inc. (NASDAQ:ROKU) by 12.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,534 shares of the company’s stock after selling 1,355 shares during the period. Principal Financial Group Inc.’s holdings in Roku were worth $571,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Sumitomo Mitsui Trust Holdings Inc. grew its stake in Roku by 24.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,349,067 shares of the company’s stock worth $478,939,000 after acquiring an additional 1,457,925 shares in the last quarter. Nikko Asset Management Americas Inc. grew its stake in Roku by 25.8% in the first quarter. Nikko Asset Management Americas Inc. now owns 7,091,891 shares of the company’s stock worth $462,108,000 after purchasing an additional 1,455,408 shares in the last quarter. Norges Bank bought a new stake in Roku during the 4th quarter valued at $90,386,000. Quadrature Capital Ltd bought a new position in shares of Roku during the 4th quarter worth $35,856,000. Finally, Vanguard Group Inc. increased its stake in shares of Roku by 3.3% during the fourth quarter. Vanguard Group Inc. now owns 11,853,947 shares of the company’s stock valued at $1,086,533,000 after buying an additional 380,409 shares during the period. Hedge funds and other institutional investors own 86.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ROKU. Guggenheim upgraded Roku from a “neutral” rating to a “buy” rating and set a $75.00 target price for the company in a report on Friday, August 23rd. JPMorgan Chase & Co. dropped their price objective on Roku from $90.00 to $80.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Wells Fargo & Company upgraded shares of Roku from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $50.00 to $72.00 in a report on Thursday, September 5th. Rosenblatt Securities lowered their price target on shares of Roku from $89.00 to $61.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Finally, Bank of America cut their price objective on shares of Roku from $85.00 to $75.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $78.25.

Insider Buying and Selling at Roku

In other Roku news, insider Gilbert Fuchsberg sold 1,693 shares of the stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total transaction of $109,012.27. Following the sale, the insider now directly owns 38,602 shares of the company’s stock, valued at approximately $2,485,582.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Charles Collier sold 3,590 shares of the business’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $65.00, for a total value of $233,350.00. Following the completion of the transaction, the insider now directly owns 12,064 shares in the company, valued at approximately $784,160. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Gilbert Fuchsberg sold 1,693 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total transaction of $109,012.27. Following the sale, the insider now directly owns 38,602 shares in the company, valued at $2,485,582.78. The disclosure for this sale can be found here. Over the last three months, insiders have sold 45,945 shares of company stock valued at $3,389,805. 13.98% of the stock is owned by insiders.

Roku Stock Up 0.8 %

Roku stock opened at $74.69 on Friday. The stock has a 50-day moving average price of $61.63 and a 200 day moving average price of $60.66. The company has a market capitalization of $10.81 billion, a price-to-earnings ratio of -18.65 and a beta of 2.06. Roku, Inc. has a 52 week low of $48.33 and a 52 week high of $108.84.

Roku (NASDAQ:ROKU) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.21. The business had revenue of $968.18 million during the quarter, compared to analysts’ expectations of $937.78 million. Roku had a negative net margin of 13.16% and a negative return on equity of 21.03%. The business’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.76) EPS. Research analysts anticipate that Roku, Inc. will post -1.45 EPS for the current fiscal year.

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.