ARK Investment Management LLC has recently announced that it has increased stake in Roku Inc. (NASDAQ:ROKU) by 17.48%. After grabbing 11.92 million shares, the institutional investor is now in possession of 1.77 million shares of the Communication Services Company. The new investment brought the stake of investor firm to 9.87% having worth around $661.92 million. Moreover, The Vanguard Group, Inc. increased its share by 0.2 million to have a control over 10.65 million shares. And Nikko Asset Management Co., Ltd. raised its holdings to 1.41 million shares by acquiring 7.4 million shares or 6.13% of the stake.
Roku Inc. (ROKU) concluded trading on 11/23/22 at a closing price of $56.51, with 4.26 million shares of worth about $240.88 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -33.35% during that period and on Wednesday the price saw a gain of about 3.96%. Currently the company’s common shares owned by public are about 138.57M shares, out of which, 121.47M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 30 analysts are covering the ROKU stock and their offered price forecasts bring an average price target of $59.79. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $90.00 and could fall to a lowest price of $38.00. The stock’s current price level is 7.44% above of average price target set by the analysts, while a rise to estimated low would result in loss of -48.71% for the stock. However, touching the estimated high of $90.00 would mean a gain of 37.21% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 167 times over the past 12 months. They bought 1,350,896 shares in 46 of the transactions. In 121 selling transactions, insiders dumped 1,151,934 shares.
ARK Innovation ETF, Vanguard Total Stock Market Index, and Nikko AM Global Umbrella Fund – A are the top 3 mutual funds which are holding stakes in Roku Inc. ARK Innovation ETF is currently holding 9.09 million shares of worth totaling $505.12 million. The company recently came selling 23535.0 shares which brought its stake up to 7.53% of the company’s outstanding shares. Vanguard Total Stock Market Index bought 10744.0 shares, after which its hold over company’s outstanding shares expand to 3.00%, leaving 3.62 million shares with the mutual fund that have a worth of about $201.09 million. Nikko AM Global Umbrella Fund – A, after buying 2.92 million shares, have now control over 2.42% of the stake in the company. It holds 0.98 million shares of worth $162.03 million.
Roku Inc. (NASDAQ: ROKU) started trading at $54.85, above $0.49 from concluding price of the previous day. However, the stock later moved at a day high price of 57.04, or with a gain of 3.96%. Stock saw a price change of -0.65% in past 5 days and over the past one month there was a price change of 2.11%. Year-to-date (YTD), ROKU shares are showing a performance of -75.24% which decreased to -75.00% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $44.50 but also hit the highest price of $266.05 during that period. The average intraday trading volume for Roku Inc. shares is 9.06 million. The stock is currently trading 3.83% above its 20-day simple moving average (SMA20), while that difference is down -0.57% for SMA50 and it goes to -36.22% lower than SMA200.
ARK Investment Management LLC acquired 11.92 million shares of Roku Inc. having value of about $661.92 million. Data submitted at the U.S SEC by ARK Investment Management LLC revealed that the firm now holds 1.77 million shares in the company valued at close to $100209296.02, or have control over 17.48% stake in the company. Roku Inc. (NASDAQ: ROKU) currently have 138.57M outstanding shares and institutions hold larger chunk of about 77.70% of that. Holding of mutual funds in the company is about 38.40% while other institutional holders and individual stake holders have control over 42.66% and 3.51% of the stake respectively.
The stock has a current market capitalization of $7.98B and its 3Y-monthly beta is at 1.52. It has posted earnings per share of -$1.73 in the same period. It has Quick Ratio of 3.00 while making debt-to-equity ratio of 0.03. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for ROKU, volatility over the week remained 4.81% while standing at 7.51% over the month.
Analysts are in expectations that Roku Inc. (ROKU) stock would likely to be making an EPS of -$1.28 in the current quarter, while forecast for next quarter EPS is -$1.06 and it is -$2.75 for next year. For the current quarter EPS, analysts have given the company a lowest target -$1.42 which is -$0.5 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.48 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -310.50% while it is estimated to decrease by -11.90% in next year. EPS is likely to grow at an annualized rate of 43.00% for next 5-years, compared to annual growth of 42.10% made by the stock over the past 5-years.
Analysts at 30 brokerage firms have issued recommendations for the Roku Inc. (ROKU)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.70. Out of those 30 Wall Street analysts, 13 recommended a “Buy” rating, while 10 were in favor recommending the stock as a “Hold” and 4 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Jefferies on November 11, 2022 offering a Hold rating for the stock and assigned a target price of $45 to it. Coverage by Rosenblatt stated Roku Inc. (ROKU) stock as a Neutral in their note to investors on November 03, 2022, suggesting a price target of $51 for the stock. Stock get a Neutral rating from Cleveland Research on October 26, 2022.