Venturi Wealth Management LLC Grows Stake in Roku, Inc. (NASDAQ:ROKU)

Venturi Wealth Management LLC boosted its holdings in Roku, Inc. (NASDAQ:ROKU) by 50.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 991 shares of the company’s stock after purchasing an additional 333 shares during the quarter. Venturi Wealth Management LLC’s holdings in Roku were worth $74,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. TRU Independence Asset Management 2 LLC purchased a new position in Roku during the third quarter valued at $212,000. Sigma Planning Corp grew its position in shares of Roku by 4.7% during the third quarter. Sigma Planning Corp now owns 8,256 shares of the company’s stock valued at $616,000 after purchasing an additional 370 shares in the last quarter. Concurrent Investment Advisors LLC bought a new stake in shares of Roku in the third quarter worth about $274,000. United Advisor Group LLC purchased a new stake in shares of Roku in the third quarter worth about $1,068,000. Finally, QRG Capital Management Inc. purchased a new stake in shares of Roku in the third quarter worth about $214,000. 86.30% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $75.00, for a total value of $1,875,000.00. Following the completion of the sale, the chief executive officer now owns 5,020 shares of the company’s stock, valued at $376,500. This trade represents a 83.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Dan Jedda sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $75.33, for a total transaction of $75,330.00. Following the sale, the chief financial officer now directly owns 54,267 shares in the company, valued at approximately $4,087,933.11. This represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 69,776 shares of company stock worth $5,267,305 in the last three months. 13.98% of the stock is owned by insiders.

Roku Stock Performance

NASDAQ ROKU opened at $74.32 on Friday. Roku, Inc. has a one year low of $48.33 and a one year high of $108.84. The company has a market capitalization of $10.79 billion, a price-to-earnings ratio of -61.93 and a beta of 2.07. The company’s 50-day simple moving average is $74.12 and its two-hundred day simple moving average is $64.51.

Roku (NASDAQ:ROKU) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.29. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. Roku had a negative net margin of 4.42% and a negative return on equity of 7.22%. Roku’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($2.33) earnings per share. Equities analysts expect that Roku, Inc. will post -1.1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on ROKU shares. Moffett Nathanson raised Roku from a “sell” rating to a “neutral” rating and set a $80.00 price objective on the stock in a research note on Tuesday, October 1st. Citigroup increased their price objective on shares of Roku from $60.00 to $77.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Needham & Company LLC restated a “buy” rating and issued a $100.00 target price on shares of Roku in a report on Thursday, October 31st. Wells Fargo & Company upped their target price on shares of Roku from $72.00 to $74.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Finally, Morgan Stanley upped their price objective on Roku from $60.00 to $65.00 and gave the company an “underweight” rating in a research report on Tuesday, October 29th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $83.95.

About Roku

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.