Comerica Bank Sells 346,056 Shares of Roku, Inc. $ROKU

Comerica Bank decreased its position in Roku, Inc. (NASDAQ:ROKU) by 99.0% during the 4th quarter, Holdings Channel reports. The firm owned 3,342 shares of the company’s stock after selling 346,056 shares during the quarter. Comerica Bank’s holdings in Roku were worth $363,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Apollon Wealth Management LLC lifted its position in Roku by 1.5% during the 4th quarter. Apollon Wealth Management LLC now owns 6,450 shares of the company’s stock worth $700,000 after buying an additional 96 shares in the last quarter. Cornerstone Wealth Management LLC lifted its position in Roku by 3.8% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 2,728 shares of the company’s stock worth $273,000 after buying an additional 100 shares in the last quarter. Thoroughbred Financial Services LLC lifted its position in Roku by 1.0% during the 3rd quarter. Thoroughbred Financial Services LLC now owns 9,945 shares of the company’s stock worth $995,000 after buying an additional 100 shares in the last quarter. Aviance Capital Partners LLC lifted its position in Roku by 2.6% during the 3rd quarter. Aviance Capital Partners LLC now owns 4,172 shares of the company’s stock worth $418,000 after buying an additional 106 shares in the last quarter. Finally, Larson Financial Group LLC lifted its position in Roku by 32.1% during the 3rd quarter. Larson Financial Group LLC now owns 556 shares of the company’s stock worth $56,000 after buying an additional 135 shares in the last quarter. Institutional investors own 86.30% of the company’s stock.

Analyst Upgrades and Downgrades

ROKU has been the topic of several research reports. Weiss Ratings upgraded shares of Roku from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Tuesday, February 17th. Oppenheimer upped their price target on shares of Roku from $105.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday, February 13th. Guggenheim upped their price target 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. Evercore reiterated an “outperform” rating and set a $150.00 price target on shares of Roku in a research report on Friday, February 13th. Finally, Stifel Nicolaus set a $160.00 price target on shares of Roku in a research report on Monday, March 2nd. Twenty-one analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $143.42.

Roku Trading Down 1.5%

Roku stock opened at $125.68 on Thursday. Roku, Inc. has a 1 year low of $67.67 and a 1 year high of $131.39. The company has a market cap of $18.53 billion, a PE ratio of 94.50 and a beta of 2.04. The company’s 50-day moving average is $105.34 and its two-hundred day moving average is $102.38.

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

Insider Buying and Selling at Roku

In related news, insider Charles Collier sold 205,821 shares of the stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $105.00, for a total value of $21,611,205.00. Following the sale, the insider directly owned 11,131 shares in the company, valued at $1,168,755. This trade represents a 94.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Anthony J. Wood sold 75,000 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $128.79, for a total transaction of $9,659,250.00. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 688,038 shares of company stock valued at $76,076,295. 13.45% of the stock is currently owned by company 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.