Congress Asset Management Co. Decreases Stock Position in Roku, Inc. $ROKU

Congress Asset Management Co. trimmed its holdings in shares of Roku, Inc. (NASDAQ:ROKU) by 2.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 260,792 shares of the company’s stock after selling 5,817 shares during the period. Congress Asset Management Co. owned 0.18% of Roku worth $39,713,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. CX Institutional lifted its position in Roku by 44.1% during the 3rd quarter. CX Institutional now owns 281 shares of the company’s stock worth $43,000 after buying an additional 86 shares in the last quarter. QRG Capital Management Inc. increased its position in Roku by 13.9% in the 2nd quarter. QRG Capital Management Inc. now owns 6,872 shares of the company’s stock valued at $949,000 after acquiring an additional 841 shares in the last quarter. HBK Investments L P bought a new position in shares of Roku in the second quarter worth about $163,604,000. Sequoia Financial Advisors LLC raised its stake in shares of Roku by 22.4% in the second quarter. Sequoia Financial Advisors LLC now owns 6,018 shares of the company’s stock worth $831,000 after acquiring an additional 1,102 shares during the last quarter. Finally, Maven Securities LTD acquired a new position in shares of Roku during the second quarter worth approximately $5,111,000. Institutional investors and hedge funds own 86.30% of the company’s stock.

Roku Stock Down 0.9%

ROKU stock traded down $1.35 during midday trading on Tuesday, reaching $152.06. The company’s stock had a trading volume of 1,563,470 shares, compared to its average volume of 3,358,708. The business’s 50-day simple moving average is $153.66 and its 200-day simple moving average is $133.75. Roku, Inc. has a 52 week low of $78.53 and a 52 week high of $159.89. The stock has a market cap of $22.57 billion, a PE ratio of 64.98 and a beta of 2.05.

Roku (NASDAQ:ROKU) last issued its earnings results on Thursday, August 6th. The company reported $1.08 EPS for the quarter, beating the consensus estimate of $0.61 by $0.47. Roku had a net margin of 6.82% and a return on equity of 13.73%. The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter in the previous year, the company posted $0.07 EPS. The business’s revenue for the quarter was up 21.9% compared to the same quarter last year. As a group, equities analysts forecast that Roku, Inc. will post 2.92 earnings per share for the current fiscal year.

Insider Transactions at Roku

In other Roku news, insider Charles Collier sold 20,538 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $145.93, for a total transaction of $2,997,110.34. Following the transaction, the insider owned 15,200 shares in the company, valued at approximately $2,218,136. This trade represents a 57.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mustafa Ozgen sold 3,410 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $155.64, for a total value of $530,732.40. Following the completion of the sale, the insider directly owned 25,569 shares of the company’s stock, valued at approximately $3,979,559.16. This trade represents 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. In the last ninety days, insiders have sold 91,747 shares of company stock valued at $14,040,808. Corporate insiders own 13.45% of the company’s stock.

Trending Headlines about Roku

Here are the key news stories impacting Roku this week:

• Positive Sentiment: Roku is being highlighted by Zacks as a growth stock for the fourth quarter, with streaming growth and improving earnings estimates cited as potential catalysts. This may support investor interest, although the recommendation is not a company-specific earnings announcement. Zacks growth stock article
• Positive Sentiment: Roku is expanding its original and licensed content slate with Scarlett Holmes, a limited series starring Lucy Hale. Additional programming could strengthen engagement with The Roku Channel and its advertising business, though the direct financial impact is uncertain. Deadline Scarlett Holmes article
• Positive Sentiment: Roku’s newly released 65-inch 4K OLED television is being promoted at $799.99 during Amazon’s October Prime Day. The deal may increase product visibility and adoption of Roku-powered televisions, although promotional pricing could limit near-term hardware margins. IGN Roku OLED TV article

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Citizens Jmp cut shares of Roku from a “market outperform” rating to a “hold” rating in a research note on Tuesday, June 16th. Weiss Ratings raised Roku from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Guggenheim lowered Roku from a “buy” rating to a “neutral” rating and increased their price objective for the company from $145.00 to $160.00 in a research report on Friday, August 7th. Wells Fargo & Company reissued an “equal weight” rating and issued a $165.00 target price (down from $167.00) on shares of Roku in a research note on Friday, August 14th. Finally, Zacks Research upgraded Roku from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and nineteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Roku currently has an average rating of “Hold” and a consensus target price of $156.17.

About Roku

Roku, Inc develops and operates a television streaming platform that connects consumers with digital entertainment. Its platform enables users to access streaming services, live television, movies, music and other content through Roku devices and Roku-powered televisions.

The company offers Roku streaming players, Roku-branded televisions and the Roku operating system, which it licenses to television manufacturers. Roku also operates The Roku Channel, an ad-supported streaming service offering movies, television programs, news, live channels and other content.