Roku, Inc. (NASDAQ:ROKU) Shares Sold by Fortis Group Advisors LLC

Fortis Group Advisors LLC lowered its position in Roku, Inc. (NASDAQ:ROKU) by 35.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,625 shares of the company’s stock after selling 4,699 shares during the quarter. Fortis Group Advisors LLC’s holdings in Roku were worth $644,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Roku by 24.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,349,067 shares of the company’s stock valued at $478,939,000 after buying an additional 1,457,925 shares during the last quarter. Nikko Asset Management Americas Inc. grew its holdings in Roku by 25.8% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 7,091,891 shares of the company’s stock worth $462,108,000 after acquiring an additional 1,455,408 shares in the last quarter. Canada Pension Plan Investment Board increased its position in shares of Roku by 138.1% in the 1st quarter. Canada Pension Plan Investment Board now owns 342,400 shares of the company’s stock worth $22,314,000 after purchasing an additional 198,600 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Roku by 645.3% in the 2nd quarter. AQR Capital Management LLC now owns 221,557 shares of the company’s stock valued at $13,278,000 after purchasing an additional 191,831 shares in the last quarter. Finally, ARK Investment Management LLC grew its stake in Roku by 1.3% in the second quarter. ARK Investment Management LLC now owns 12,716,432 shares of the company’s stock worth $762,096,000 after purchasing an additional 159,785 shares in the last quarter. 86.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on ROKU shares. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 target price on shares of Roku in a report on Tuesday. Wolfe Research raised shares of Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 target price on the stock in a report on Thursday, September 12th. Robert W. Baird upped their target price on Roku from $56.00 to $75.00 and gave the company a “neutral” rating in a report on Monday, September 30th. Wedbush reiterated an “outperform” rating and set a $75.00 price target on shares of Roku in a research report on Friday, August 2nd. Finally, Moffett Nathanson upgraded Roku from a “sell” rating to a “neutral” rating and set a $80.00 price objective for the company in a research report on Tuesday, October 1st. Two analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Roku has an average rating of “Hold” and an average target price of $81.24.

Roku Trading Down 0.8 %

ROKU stock traded down $0.64 during trading hours on Tuesday, hitting $76.36. 279,085 shares of the stock traded hands, compared to its average volume of 4,365,382. The stock has a 50-day simple moving average of $71.00 and a 200 day simple moving average of $62.96. The company has a market cap of $11.05 billion, a P/E ratio of -22.19 and a beta of 2.08. Roku, Inc. has a one year low of $48.33 and a one year high of $108.84.

Roku (NASDAQ:ROKU) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.21. Roku had a negative net margin of 13.16% and a negative return on equity of 21.03%. The firm had revenue of $968.18 million for the quarter, compared to analyst estimates of $937.78 million. During the same quarter in the previous year, the business posted ($0.76) earnings per share. The firm’s quarterly revenue was up 14.3% compared to the same quarter last year. Analysts forecast that Roku, Inc. will post -1.44 earnings per share for the current year.

Insider Activity at Roku

In other Roku news, CFO Dan Jedda sold 1,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $76.25, for a total transaction of $76,250.00. Following the sale, the chief financial officer now owns 53,267 shares in the company, valued at approximately $4,061,608.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Dan Jedda sold 1,000 shares of Roku stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $76.25, for a total transaction of $76,250.00. Following the transaction, the chief financial officer now owns 53,267 shares in the company, valued at approximately $4,061,608.75. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $75.00, for a total value of $1,875,000.00. Following the transaction, the chief executive officer now directly owns 5,020 shares in the company, valued at $376,500. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 69,566 shares of company stock worth $5,254,000 in the last quarter. 13.98% of the stock is owned by company insiders.

About Roku

Roku, Inc, together with its subsidiaries, operates a TV streaming platform in the United states and internationally. The company operates in two segments, Platform and Devices. Its streaming platform allows users to find and access TV shows, movies, news, sports, and others. The Platform segment offers digital advertising, including direct and programmatic video advertising, media and entertainment promotional spending, and related services; and streaming services distribution, such as subscription and transaction revenue shares, and sale of premium subscriptions and branded app buttons on remote controls.