MML Investors Services LLC Boosts Stake in Roku, Inc. (NASDAQ:ROKU)

MML Investors Services LLC grew its stake in Roku, Inc. (NASDAQ:ROKU) by 9.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,592 shares of the company’s stock after acquiring an additional 948 shares during the quarter. MML Investors Services LLC’s holdings in Roku were worth $791,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC raised its holdings in Roku by 19.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 6,836 shares of the company’s stock worth $410,000 after purchasing an additional 1,131 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Roku by 5.2% during the second quarter. Bank of New York Mellon Corp now owns 500,794 shares of the company’s stock valued at $30,013,000 after acquiring an additional 24,926 shares during the last quarter. ARK Investment Management LLC boosted its stake in Roku by 1.3% in the second quarter. ARK Investment Management LLC now owns 12,716,432 shares of the company’s stock valued at $762,096,000 after acquiring an additional 159,785 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Roku in the second quarter worth $81,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in shares of Roku during the second quarter worth $575,000. 86.30% of the stock is currently owned by hedge funds and other institutional investors.

Roku Price Performance

NASDAQ:ROKU opened at $80.59 on Friday. The company has a 50 day moving average price of $75.32 and a 200-day moving average price of $67.71. Roku, Inc. has a 1-year low of $48.33 and a 1-year high of $99.80. The firm has a market cap of $11.70 billion, a price-to-earnings ratio of -67.16 and a beta of 2.06.

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

Insiders Place Their Bets

In other Roku news, CFO Dan Jedda sold 1,000 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $82.73, for a total transaction of $82,730.00. Following the transaction, the chief financial officer now directly owns 64,555 shares of the company’s stock, valued at $5,340,635.15. This trade represents a 1.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $77.20, for a total transaction of $1,930,000.00. Following the sale, the chief executive officer now directly owns 5,020 shares of the company’s stock, valued at $387,544. This represents a 83.28 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 73,096 shares of company stock worth $5,661,223. 13.98% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ROKU has been the topic of several research analyst reports. UBS Group started coverage on Roku in a research note on Friday, November 22nd. They set a “neutral” rating and a $73.00 target price on the stock. Needham & Company LLC restated a “buy” rating and set a $100.00 price target on shares of Roku in a research note on Wednesday, December 4th. Citigroup upped their price objective on shares of Roku from $60.00 to $77.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Loop Capital lifted their target price on shares of Roku from $70.00 to $80.00 and gave the stock a “hold” rating in a research note on Monday, December 9th. Finally, Wedbush restated an “outperform” rating and set a $100.00 price target (up previously from $85.00) on shares of Roku in a research note on Friday, December 6th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $83.81.

Roku Company 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.