New York Life Investment Management LLC Acquires 46,395 Shares of Roku, Inc. $ROKU

New York Life Investment Management LLC grew its holdings in Roku, Inc. (NASDAQ:ROKU) by 289.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 62,409 shares of the company’s stock after buying an additional 46,395 shares during the quarter. New York Life Investment Management LLC’s holdings in Roku were worth $9,504,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in ROKU. Signature Equity Partners LLC lifted its position in Roku by 1,225.0% during the 3rd quarter. Signature Equity Partners LLC now owns 212 shares of the company’s stock worth $32,000 after buying an additional 196 shares in the last quarter. CX Institutional grew its holdings in Roku by 44.1% during the 3rd quarter. CX Institutional now owns 281 shares of the company’s stock worth $43,000 after acquiring an additional 86 shares during the last quarter. Elevation Wealth Partners LLC increased its position in Roku by 208.7% in the 2nd quarter. Elevation Wealth Partners LLC now owns 318 shares of the company’s stock valued at $44,000 after acquiring an additional 215 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Roku in the 3rd quarter valued at about $46,000. Finally, Coppell Advisory Solutions LLC acquired a new stake in Roku in the 2nd quarter valued at about $47,000. 86.30% of the stock is owned by institutional investors.

Roku News Summary

These are some of the ROKU news items that stood out recently:

• Positive Sentiment: Fox has completed its acquisition of Roku, positioning the combined company to connect Fox’s media business with Roku’s streaming platform. The DOJ cleared the deal, saying it was not likely to harm competition, including in free ad-supported streaming. Fox’s $22 Billion Roku Acquisition Reshapes Its Streaming Business Fox’s ‘Neutral’ Roku Stance Steps To A New Dance
• Neutral Sentiment: Fox is reportedly selling investment-grade bonds to raise funds to repay the bridge loan used for the takeover. This is a financing development; the articles do not detail its impact on Roku’s operations. Fox Launches Bond Sale to Repay Bridge Loan for Roku Takeover
• Negative Sentiment: Roku will stop selling smart-home devices and refocus on streaming. Sharper strategic focus may benefit the core business, but exiting a product category could mean lost sales and changes for existing customers. Roku will stop selling smart home devices and refocus on streaming

Insider Activity at Roku

In other news, insider Charles Collier sold 20,538 shares of Roku stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $156.99, for a total transaction of $3,224,260.62. Following the completion of the sale, the insider owned 22,700 shares in the company, valued at $3,563,673. The trade was a 47.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Dan Jedda sold 7,000 shares of Roku stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $156.81, for a total transaction of $1,097,670.00. Following the sale, the chief financial officer owned 74,811 shares of the company’s stock, valued at approximately $11,731,112.91. This represents a 8.56% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 88,028 shares of company stock worth $13,645,922. Insiders own 13.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ROKU. Guggenheim downgraded shares of Roku from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $145.00 to $160.00 in a research note on Friday, August 7th. Needham & Company LLC reissued a “buy” rating on shares of Roku in a research note on Tuesday, November 3rd. Wells Fargo & Company lowered shares of Roku from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $167.00 to $165.00 in a report on Friday, August 14th. Weiss Ratings upgraded shares of Roku from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, November 3rd. Finally, Fox Advisors set a $157.00 price objective on shares of Roku in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seventeen have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $156.22.

Roku Stock Down 0.5%

Shares of ROKU opened at $159.65 on Thursday. The stock’s fifty day simple moving average is $155.51 and its 200-day simple moving average is $129.72. The firm has a market capitalization of $23.69 billion, a PE ratio of 47.23 and a beta of 2.12. Roku, Inc. has a 12-month low of $78.53 and a 12-month high of $163.57.

Roku (NASDAQ:ROKU) last announced its quarterly earnings data on Monday, November 2nd. The company reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.65. The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.41 billion. Roku had a return on equity of 18.65% and a net margin of 9.34%. The company’s revenue was up 24.1% on a year-over-year basis. During the same period last year, the company earned $0.16 earnings per share. Analysts anticipate that Roku, Inc. will post 3.17 EPS for the current year.

Roku Profile

Roku, Inc. provides a streaming platform that connects viewers with television and other digital video content. Its products include streaming players and Roku-branded televisions, as well as the Roku operating system, which the company licenses to television manufacturers. Roku also operates a platform business that supports streaming services and advertisers. Its offerings include the Roku Channel, an ad-supported streaming service, and tools for distributing content and delivering advertising to viewers.