PNC Financial Services Group Inc. Increases Stake in Roku, Inc.

PNC Financial Services Group Inc. has expanded its investment in Roku, Inc. (NASDAQ:ROKU), raising its share holdings by 6.9% in the third quarter, as per the latest disclosure with the SEC. The financial institution now possesses a total of 14,567 shares in Roku after purchasing an additional 943 shares during this period. At the end of the reporting period, PNC's investment in Roku was valued at approximately $1,028,000.

Other hedge funds and investors have similarly adjusted their positions in Roku. ICA Group Wealth Management LLC initiated a new investment in Roku in the fourth quarter, valued at around $25,000. Quarry LP acquired Roku shares worth $25,000 in the second quarter. Spire Wealth Management increased its Roku holdings by 58.3% in the second quarter, owning 459 shares valued at $29,000 after acquiring an extra 169 shares. Covestor Ltd boosted its stake by 693.2% in the first quarter, owning 349 shares with a value of $44,000 after purchasing an additional 305 shares. Sunbelt Securities Inc. entered a new position in Roku during the first quarter, investing $45,000. Overall, institutional investors own 69.21% of Roku's stock.

Insider Transactions at Roku

Insider activity has also been reported at Roku, where Mustafa Ozgen, an insider, sold a total of 33,684 shares on December 14th at an average price of $103.90, summing up to over $3.49 million. Following the sale, Ozgen holds 2,418 Roku shares, estimated at about $251,230.20. CEO Anthony J. Wood completed a sale of 25,000 shares on February 12th at an average price of $98.64, leading to a transaction value of about $2.47 million. Post-transaction, Wood directly owns 141,221 shares in the company, with a market value of approximately $13.93 million. All insider sales were filed with the SEC and are accessible to the public. Over the last three months, insiders have sold 109,095 shares worth nearly $10.76 million. Company insiders retain a 13.63% stake in Roku's stock.

Performance and Analysis of Roku Stocks

Roku's shares saw a 1.9% upswing on a certain trading day, opening at $64.48. The company's 50-day and 200-day simple moving averages were at $87.72 and $83.00, respectively. With a market capitalization of $9.19 billion, the stock has a negative price-to-earnings ratio and a beta of 1.80. Roku's stock has fluctuated between a 12-month low of $51.62 and a high of $108.84.

The company reported quarterly earnings on February 15th, with earnings per share (EPS) of ($0.55), surpassing the anticipated ($0.65) by $0.10. Roku's quarterly revenue reached $984.40 million, slightly above the consensus estimate of $967.72 million. Despite a 13.5% yearly increase in revenue, the company reported a negative net margin and return on equity. Analysts project that Roku will post an earnings per share figure of -2.26 for the current year.

Analyst Perspectives on Roku

Analysts have expressed a mix of opinions on Roku shares. Pivotal Research adjusted their price target from $85.00 to $75.00, maintaining a 'hold' rating. Conversely, Cannonball Research upgraded Roku to a 'buy' rating with a price target of $116.00. Moffett Nathanson downgraded the stock from 'market perform' to 'sell,' while raising the price target slightly. Citigroup and Wedbush have also published reports with varying recommendations and price targets. In summary, Roku currently holds a 'Hold' consensus rating with an average price target of $87.50, according to data from MarketBeat.

Roku, PNC, Holdings