Swiss National Bank Sells 28,648 Shares of Roku, Inc. (NASDAQ:ROKU)

Posted by on May 13th, 2023

Swiss National Bank reduced its stake in Roku, Inc. (NASDAQ:ROKU – Get Rating) by 5.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 490,700 shares of the company’s stock after selling 28,648 shares during the period. Swiss National Bank owned about 0.35% of Roku worth $19,971,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Benjamin Edwards Inc. raised its position in Roku by 33.6% during the 4th quarter. Benjamin Edwards Inc. now owns 759 shares of the company’s stock valued at $31,000 after purchasing an additional 191 shares during the last quarter. Beacon Capital Management LLC lifted its stake in Roku by 155.6% in the fourth quarter. Beacon Capital Management LLC now owns 979 shares of the company’s stock worth $40,000 after acquiring an additional 596 shares during the period. Wipfli Financial Advisors LLC bought a new stake in Roku in the third quarter valued at $42,000. Concord Wealth Partners bought a new position in Roku in the 4th quarter worth $42,000. Finally, Covestor Ltd lifted its position in shares of Roku by 693.2% in the 1st quarter. Covestor Ltd now owns 349 shares of the company’s stock worth $44,000 after purchasing an additional 305 shares during the period. Hedge funds and other institutional investors own 66.11% of the company’s stock.

Analyst Upgrades and Downgrades

ROKU has been the subject of a number of research analyst reports. Wells Fargo & Company lowered their target price on Roku from $67.00 to $63.00 and set an “equal weight” rating for the company in a research note on Thursday, April 27th. Wedbush restated an “outperform” rating and set a $80.00 target price on shares of Roku in a report on Monday, March 13th. Stephens reiterated an “overweight” rating and issued a $70.00 price target on shares of Roku in a research note on Thursday, February 16th. Rosenblatt Securities cut their price target on Roku from $64.00 to $61.00 and set a “neutral” rating on the stock in a research note on Thursday, April 27th. Finally, Loop Capital upped their price target on shares of Roku from $56.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, February 16th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $71.04.

Insiders Place Their Bets

In other Roku news, insider Gidon Katz sold 3,694 shares of the company’s stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $57.50, for a total value of $212,405.00. Following the completion of the transaction, the insider now directly owns 15,450 shares in the company, valued at $888,375. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Gidon Katz sold 3,694 shares of the business’s stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $57.50, for a total value of $212,405.00. Following the transaction, the insider now directly owns 15,450 shares in the company, valued at $888,375. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Stephen H. Kay sold 2,763 shares of the stock in a transaction dated Thursday, February 16th. The stock was sold at an average price of $75.00, for a total value of $207,225.00. Following the sale, the senior vice president now owns 78,527 shares of the company’s stock, valued at approximately $5,889,525. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,511 shares of company stock worth $1,166,134. Company insiders own 13.79% of the company’s stock.

Roku Price Performance

Shares of Roku stock opened at $53.73 on Friday. The stock has a market capitalization of $7.56 billion, a PE ratio of -11.24 and a beta of 1.72. Roku, Inc. has a 1-year low of $38.26 and a 1-year high of $105.85. The company’s fifty day simple moving average is $60.64 and its 200-day simple moving average is $56.23.

Roku (NASDAQ:ROKU – Get Rating) last released its quarterly earnings results on Wednesday, April 26th. The company reported ($1.38) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.44) by $0.06. Roku had a negative return on equity of 24.71% and a negative net margin of 21.23%. The business had revenue of $741.00 million during the quarter, compared to analyst estimates of $707.59 million. During the same quarter in the previous year, the company posted ($0.19) earnings per share. Roku’s revenue for the quarter was up 1.0% on a year-over-year basis. As a group, research analysts anticipate that Roku, Inc. will post -5.24 EPS for the current year.

About Roku

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Roku, Inc engages in the provision of a streaming platform for television. It operates through the Platform and Devices segments. The Platform segment includes digital advertising and related services including the demand-side platform and content distribution services such as subscription and transaction revenue shares, media and entertainment promotional spending, the sale of premium subscriptions, and the sale of branded channel buttons on remote controls.

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Institutional Ownership by Quarter for Roku (NASDAQ:ROKU)

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