Parisi Gray Wealth Management Makes New Investment in Roku, Inc. (NASDAQ:ROKU)

Parisi Gray Wealth Management bought a new stake in shares of Roku, Inc. (NASDAQ:ROKU) during the fourth quarter, Holdings Channel reports. The fund bought 1,303 shares of the company’s stock, valued at approximately $433,000.

Other hedge funds have also recently made changes to their positions in the company. Laurel Wealth Advisors LLC purchased a new position in Roku in the 4th quarter valued at $25,000. Hanseatic Management Services Inc. acquired a new stake in shares of Roku during the 4th quarter worth about $26,000. Evolution Wealth Advisors LLC purchased a new position in Roku during the 4th quarter valued at about $30,000. Sonora Investment Management LLC purchased a new position in shares of Roku in the 4th quarter valued at about $33,000. Finally, Glassman Wealth Services boosted its stake in shares of Roku by 593.3% in the 4th quarter. Glassman Wealth Services now owns 104 shares of the company’s stock valued at $35,000 after buying an additional 89 shares during the period. Institutional investors own 64.15% of the company’s stock.

In related news, CEO Anthony J. Wood sold 300,000 shares of the firm’s stock in a transaction that occurred on Monday, February 8th. The stock was sold at an average price of $438.18, for a total value of $131,454,000.00. Following the sale, the chief executive officer now owns 300,000 shares of the company’s stock, valued at approximately $131,454,000. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Mai Fyfield sold 306 shares of the firm’s stock in a transaction that occurred on Monday, January 25th. The stock was sold at an average price of $430.73, for a total value of $131,803.38. Following the completion of the sale, the director now directly owns 306 shares in the company, valued at approximately $131,803.38. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 826,757 shares of company stock worth $296,324,957. 22.70% of the stock is currently owned by company insiders.

Several equities analysts have recently issued reports on ROKU shares. Oppenheimer lifted their price objective on Roku from $260.00 to $500.00 and gave the company an “outperform” rating in a research note on Friday. Macquarie boosted their target price on Roku from $275.00 to $460.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 12th. They noted that the move was a valuation call. Zacks Investment Research raised Roku from a “hold” rating to a “buy” rating and set a $352.00 price target on the stock in a research report on Wednesday, January 6th. Moffett Nathanson lifted their price target on Roku from $180.00 to $365.00 in a research report on Friday, January 15th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their price target on Roku from $375.00 to $460.00 and gave the stock a “buy” rating in a research report on Monday, January 11th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seventeen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $371.74.

ROKU traded down $23.42 on Tuesday, reaching $413.86. The company’s stock had a trading volume of 910 shares, compared to its average volume of 4,563,201. The stock has a market cap of $52.53 billion, a price-to-earnings ratio of -520.57 and a beta of 1.95. Roku, Inc. has a 1 year low of $58.22 and a 1 year high of $486.72. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.29 and a quick ratio of 3.16. The business’s 50 day moving average is $422.37 and its 200 day moving average is $276.72.

Roku (NASDAQ:ROKU) last released its earnings results on Thursday, February 18th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.54. Roku had a negative return on equity of 11.15% and a negative net margin of 6.53%. As a group, research analysts forecast that Roku, Inc. will post -0.78 earnings per share for the current fiscal year.

Roku Profile

Roku, Inc, together with its subsidiaries, operates a TV streaming platform. The company operates in two segments, Platform and Player. Its platform allows users to discover and access various movies and TV episodes, as well as live sports, music, news, and others. As of December 31, 2019, the company had 36.9 million active accounts.

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Institutional Ownership by Quarter for Roku (NASDAQ:ROKU)

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