Principal Financial Group Inc. Sells 4,753 Shares of Roku, Inc. $ROKU

Principal Financial Group Inc. cut its stake in shares of Roku, Inc. (NASDAQ:ROKU) by 13.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 29,598 shares of the company’s stock after selling 4,753 shares during the quarter. Principal Financial Group Inc.’s holdings in Roku were worth $2,801,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of ROKU. Blue Trust Inc. increased its holdings in Roku by 680.0% during the 4th quarter. Blue Trust Inc. now owns 234 shares of the company’s stock worth $25,000 after purchasing an additional 204 shares during the period. Bayban lifted its holdings in shares of Roku by 1,300.0% in the 1st quarter. Bayban now owns 280 shares of the company’s stock worth $26,000 after buying an additional 260 shares during the period. WPG Advisers LLC purchased a new stake in shares of Roku in the 4th quarter worth $31,000. Safe Harbor Fiduciary LLC bought a new position in shares of Roku during the 4th quarter worth $31,000. Finally, Rakuten Securities Inc. grew its position in shares of Roku by 55.6% during the 2nd quarter. Rakuten Securities Inc. now owns 442 shares of the company’s stock worth $39,000 after buying an additional 158 shares in the last quarter. Institutional investors own 86.30% of the company’s stock.

Insider Buying and Selling at Roku

In related news, insider Mustafa Ozgen sold 10,194 shares of the business’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $144.00, for a total transaction of $1,467,936.00. Following the transaction, the insider directly owned 19,185 shares in the company, valued at $2,762,640. The trade was a 34.70% 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, insider Gilbert Fuchsberg sold 9,593 shares of the business’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $125.52, for a total value of $1,204,113.36. Following the transaction, the insider owned 50,863 shares in the company, valued at approximately $6,384,323.76. This trade represents a 15.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 236,499 shares of company stock valued at $30,582,963. Corporate insiders own 13.45% of the company’s stock.

Roku Stock Up 1.0%

NASDAQ ROKU opened at $145.33 on Thursday. The firm has a market cap of $21.43 billion, a PE ratio of 109.27 and a beta of 2.01. The company has a 50 day moving average price of $135.66 and a 200 day moving average price of $114.40. Roku, Inc. has a 52 week low of $78.53 and a 52 week high of $148.88.

Roku (NASDAQ:ROKU) last posted its earnings results on Thursday, April 30th. The company reported $0.57 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 during the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter in the prior year, the company posted ($0.19) earnings per share. Roku’s revenue for the quarter was up 22.4% compared to the same quarter last year. On average, equities research analysts anticipate that Roku, Inc. will post 2.41 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Oppenheimer downgraded Roku from an “outperform” rating to a “market perform” rating in a report on Monday, June 15th. Guggenheim raised their target price on shares of Roku from $140.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, June 9th. Needham & Company LLC boosted their price target on shares of Roku from $140.00 to $170.00 and gave the company a “buy” rating in a report on Monday, June 15th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $160.00 price target (up from $150.00) on shares of Roku in a research report on Tuesday, June 16th. Finally, Citigroup increased their price objective on shares of Roku from $120.00 to $157.00 and gave the company a “neutral” rating in a research note on Friday, July 17th. Ten equities research analysts have rated the stock with a Buy rating and seventeen have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $155.12.

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.