Newbridge Financial Services Group Inc. lowered its holdings in shares of Roku, Inc. (NASDAQ:ROKU – Get Rating) by 5.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,503 shares of the company’s stock after selling 573 shares during the period. Newbridge Financial Services Group Inc.’s holdings in Roku were worth $863,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. increased its position in Roku by 19.9% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 49,339 shares of the company’s stock worth $4,053,000 after purchasing an additional 8,193 shares during the last quarter. Pinnacle Bancorp Inc. grew its stake in Roku by 81.8% during the second quarter. Pinnacle Bancorp Inc. now owns 809 shares of the company’s stock worth $66,000 after buying an additional 364 shares during the period. Covington Capital Management grew its stake in Roku by 448.1% during the second quarter. Covington Capital Management now owns 581 shares of the company’s stock worth $48,000 after buying an additional 475 shares during the period. DnB Asset Management AS boosted its stake in shares of Roku by 4.7% in the second quarter. DnB Asset Management AS now owns 18,488 shares of the company’s stock valued at $1,519,000 after purchasing an additional 837 shares during the period. Finally, NuWave Investment Management LLC boosted its stake in shares of Roku by 22.7% in the second quarter. NuWave Investment Management LLC now owns 8,986 shares of the company’s stock valued at $738,000 after purchasing an additional 1,663 shares during the period. Institutional investors and hedge funds own 66.86% of the company’s stock.
Roku Stock Performance
Shares of NASDAQ ROKU traded down $1.64 during midday trading on Friday, reaching $59.25. 254,270 shares of the company traded hands, compared to its average volume of 7,977,063. The firm has a market cap of $8.17 billion, a PE ratio of -168.22 and a beta of 1.70. The stock’s 50-day simple moving average is $75.82 and its 200-day simple moving average is $91.97. Roku, Inc. has a 12 month low of $60.74 and a 12 month high of $350.60.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on the stock. Needham & Company LLC decreased their target price on shares of Roku from $205.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, July 29th. TheStreet cut shares of Roku from a “c-” rating to a “d+” rating in a report on Monday, June 13th. Macquarie cut their price target on shares of Roku from $125.00 to $90.00 in a report on Friday, July 29th. Benchmark dropped their target price on shares of Roku from $240.00 to $150.00 and set an “outperform” rating on the stock in a report on Wednesday, July 27th. Finally, DA Davidson dropped their price objective on shares of Roku from $170.00 to $130.00 in a report on Friday, July 29th. Six investment analysts have rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $138.54.
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 TV, news sports, shows, and others. As of December 31, 2021, the company had 60.1 million active accounts.
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