Azzad Asset Management Inc. ADV Increases Position in Roku, Inc. (NASDAQ:ROKU)

Azzad Asset Management Inc. ADV lifted its holdings in shares of Roku, Inc. (NASDAQ:ROKU) by 21.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,485 shares of the company’s stock after acquiring an additional 968 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in Roku were worth $357,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Roku by 24.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,349,067 shares of the company’s stock valued at $478,939,000 after acquiring an additional 1,457,925 shares during the period. Allspring Global Investments Holdings LLC increased its position in Roku by 243.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,045 shares of the company’s stock worth $133,000 after buying an additional 1,449 shares during the last quarter. SteelPeak Wealth LLC lifted its position in shares of Roku by 77.9% during the 1st quarter. SteelPeak Wealth LLC now owns 9,159 shares of the company’s stock valued at $597,000 after buying an additional 4,011 shares during the last quarter. Counterpoint Mutual Funds LLC bought a new position in shares of Roku during the 1st quarter worth $275,000. Finally, Gateway Investment Advisers LLC purchased a new stake in Roku in the 1st quarter worth about $897,000. 86.30% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on ROKU shares. Benchmark lowered their price target on shares of Roku from $115.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, April 26th. Wells Fargo & Company raised their price target on Roku from $45.00 to $52.00 and gave the stock an “underweight” rating in a report on Friday, April 26th. Citigroup decreased their price objective on Roku from $75.00 to $70.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 30th. Morgan Stanley cut their target price on Roku from $65.00 to $60.00 and set an “underweight” rating for the company in a research note on Friday, April 5th. Finally, Susquehanna decreased their price target on Roku from $110.00 to $80.00 and set a “positive” rating on the stock in a research report on Monday, April 29th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $82.50.

Insider Buying and Selling

In other news, SVP Stephen H. Kay sold 12,124 shares of Roku stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $55.59, for a total value of $673,973.16. Following the sale, the senior vice president now directly owns 91,905 shares in the company, valued at approximately $5,108,998.95. The sale was disclosed in a filing with the SEC, which is available through this link. In other Roku news, SVP Stephen H. Kay sold 3,322 shares of Roku stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $57.09, for a total value of $189,652.98. Following the completion of the transaction, the senior vice president now directly owns 82,036 shares of the company’s stock, valued at $4,683,435.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Stephen H. Kay sold 12,124 shares of the stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $55.59, for a total transaction of $673,973.16. Following the sale, the senior vice president now owns 91,905 shares in the company, valued at approximately $5,108,998.95. The disclosure for this sale can be found here. Insiders have sold a total of 23,691 shares of company stock valued at $1,334,455 over the last three months. 13.98% of the stock is owned by company insiders.

Roku Stock Up 1.6 %

Shares of Roku stock traded up $0.96 during trading on Wednesday, hitting $62.32. 1,103,667 shares of the stock traded hands, compared to its average volume of 4,943,108. The stock has a market cap of $8.98 billion, a price-to-earnings ratio of -15.70 and a beta of 1.96. The firm’s fifty day moving average is $58.01 and its 200-day moving average is $69.82. Roku, Inc. has a 52 week low of $51.51 and a 52 week high of $108.84.

Roku (NASDAQ:ROKU) last posted its quarterly earnings results on Thursday, April 25th. The company reported ($0.35) earnings per share for the quarter, topping the consensus estimate of ($0.64) by $0.29. Roku had a negative net margin of 15.64% and a negative return on equity of 23.81%. The business had revenue of $881.50 million during the quarter, compared to the consensus estimate of $843.54 million. During the same period in the previous year, the firm posted ($1.38) earnings per share. The firm’s revenue for the quarter was up 19.0% on a year-over-year basis. On average, analysts forecast that Roku, Inc. will post -1.94 earnings per share for the current fiscal year.

Roku Company Profile

Roku, Inc, together with its subsidiaries, operates a TV streaming platform in the United states and internationally. The company operates in two segments, Platform and Devices. Its streaming platform allows users to find and access TV shows, movies, news, sports, and others. The Platform segment offers digital advertising, including direct and programmatic video advertising, media and entertainment promotional spending, and related services; and streaming services distribution, such as subscription and transaction revenue shares, and sale of premium subscriptions and branded app buttons on remote controls.