Quest Partners LLC Trims Stock Holdings in Roku, Inc. (NASDAQ:ROKU)

Quest Partners LLC reduced its holdings in shares of Roku, Inc. (NASDAQ:ROKU) by 54.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 857 shares of the company’s stock after selling 1,015 shares during the quarter. Quest Partners LLC’s holdings in Roku were worth $51,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of ROKU. Robeco Institutional Asset Management B.V. lifted its position in shares of Roku by 37.8% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 20,565 shares of the company’s stock worth $1,885,000 after acquiring an additional 5,641 shares in the last quarter. ING Groep NV bought a new stake in shares of Roku during the 4th quarter valued at $1,842,000. Norges Bank purchased a new stake in Roku during the 4th quarter worth about $90,386,000. Corient Private Wealth LLC boosted its stake in Roku by 4.4% in the 4th quarter. Corient Private Wealth LLC now owns 10,540 shares of the company’s stock worth $966,000 after purchasing an additional 449 shares during the period. Finally, Assetmark Inc. purchased a new position in Roku during the 4th quarter valued at about $418,000. 86.30% of the stock is owned by institutional investors.

Roku Stock Performance

Shares of Roku stock opened at $77.36 on Thursday. Roku, Inc. has a 52-week low of $48.33 and a 52-week high of $108.84. The company has a fifty day moving average of $62.70 and a 200-day moving average of $60.96. The stock has a market capitalization of $11.15 billion, a price-to-earnings ratio of -19.39 and a beta of 2.06.

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, beating 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 business had revenue of $968.18 million during the quarter, compared to analyst estimates of $937.78 million. During the same period in the prior year, the business posted ($0.76) earnings per share. The company’s revenue was up 14.3% on a year-over-year basis. On average, equities research analysts forecast that Roku, Inc. will post -1.45 earnings per share for the current fiscal year.

Insider Activity at Roku

In other Roku news, insider Charles Collier sold 3,590 shares of Roku stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $65.00, for a total value of $233,350.00. Following the transaction, the insider now directly owns 12,064 shares of the company’s stock, valued at approximately $784,160. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the transaction, the chief executive officer now owns 5,020 shares in the company, valued at approximately $376,500. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Charles Collier sold 3,590 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $65.00, for a total value of $233,350.00. Following the completion of the sale, the insider now owns 12,064 shares of the company’s stock, valued at approximately $784,160. The disclosure for this sale can be found here. Insiders sold 45,945 shares of company stock worth $3,389,805 in the last ninety days. 13.98% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ROKU. Guggenheim raised shares of Roku from a “neutral” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Friday, August 23rd. Wells Fargo & Company upgraded shares of Roku from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $50.00 to $72.00 in a research note on Thursday, September 5th. Macquarie reduced their price target on shares of Roku from $88.00 to $72.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Wedbush reiterated an “outperform” rating and issued a $75.00 price objective on shares of Roku in a research report on Friday, August 2nd. Finally, Rosenblatt Securities reduced their target price on Roku from $89.00 to $61.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $78.75.

Roku Profile

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.