Northwestern Mutual Wealth Management Co. Sells 400,082 Shares of Roku, Inc. $ROKU

Northwestern Mutual Wealth Management Co. cut its stake in Roku, Inc. (NASDAQ:ROKU) by 86.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 63,809 shares of the company’s stock after selling 400,082 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Roku were worth $6,923,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ROKU. Blue Trust Inc. raised its holdings in Roku by 680.0% in the 4th quarter. Blue Trust Inc. now owns 234 shares of the company’s stock worth $25,000 after purchasing an additional 204 shares in the last quarter. Aventura Private Wealth LLC bought a new position in Roku in the 4th quarter worth $26,000. Westfuller Advisors LLC bought a new position in Roku in the 3rd quarter worth $30,000. WPG Advisers LLC bought a new position in Roku in the 4th quarter worth $31,000. Finally, Root Financial Partners LLC bought a new position in Roku in the 3rd quarter worth $33,000. 86.30% of the stock is currently owned by institutional investors.

Roku Stock Performance

Shares of ROKU stock opened at $125.55 on Friday. Roku, Inc. has a one year low of $67.67 and a one year high of $131.39. The company’s 50-day moving average is $108.89 and its 200 day moving average is $103.56. The company has a market capitalization of $18.51 billion, a price-to-earnings ratio of 94.40 and a beta of 2.04.

Roku (NASDAQ:ROKU) last posted its earnings results on Thursday, April 30th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.23. The business had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Roku had a net margin of 4.06% and a return on equity of 7.64%. The business’s revenue for the quarter was up 22.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.19) EPS. As a group, research analysts predict that Roku, Inc. will post 2.41 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on ROKU shares. Pivotal Research reaffirmed a “buy” rating and issued a $160.00 target price (up from $140.00) on shares of Roku in a research report on Friday, May 1st. Needham & Company LLC upped their target price on shares of Roku from $110.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Guggenheim upped their target price on shares of Roku from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Jefferies Financial Group upped their target price on shares of Roku from $135.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, April 13th. Finally, Wedbush upped their target price on shares of Roku from $140.00 to $155.00 and gave the stock an “outperform” rating in a research report on Friday, May 1st. Twenty-one research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, Roku presently has a consensus rating of “Moderate Buy” and a consensus target price of $143.42.

Insider Activity at Roku

In other Roku news, CEO Anthony J. Wood sold 75,000 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $128.79, for a total transaction of $9,659,250.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gilbert Fuchsberg sold 9,593 shares of the company’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $125.52, for a total transaction of $1,204,113.36. Following the transaction, the insider owned 50,863 shares in the company, valued at $6,384,323.76. This represents a 15.87% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 692,038 shares of company stock worth $76,667,575 over the last quarter. 13.45% of the stock is currently owned by insiders.

About Roku

Roku, Inc (NASDAQ: ROKU) is a technology company that develops and operates a proprietary streaming platform designed to deliver entertainment content to consumers via internet-connected devices and smart televisions. Since its inception in 2002 in California, Roku has focused on simplifying access to streaming services for viewers worldwide. The company’s platform enables users to discover, access and manage a wide array of over-the-top content from major streaming services, free ad-supported channels and niche providers.

At the core of Roku’s product lineup are a range of streaming players and sticks, which connect to televisions via HDMI and deliver the Roku OS experience.