Roku, Inc. (NASDAQ:ROKU) Shares Sold by Point72 Asset Management L.P.

Point72 Asset Management L.P. trimmed its stake in Roku, Inc. (NASDAQ:ROKU) by 45.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 144,015 shares of the company’s stock after selling 119,573 shares during the quarter. Point72 Asset Management L.P. owned approximately 0.10% of Roku worth $8,631,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Swedbank AB acquired a new stake in Roku during the 1st quarter worth about $1,180,000. SG Americas Securities LLC raised its holdings in shares of Roku by 238.6% during the second quarter. SG Americas Securities LLC now owns 73,528 shares of the company’s stock valued at $4,407,000 after acquiring an additional 51,815 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Roku by 23.3% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 62,822 shares of the company’s stock valued at $4,094,000 after acquiring an additional 11,851 shares in the last quarter. Garde Capital Inc. acquired a new position in Roku in the 4th quarter worth approximately $105,000. Finally, Vanguard Group Inc. grew its position in Roku by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 11,946,605 shares of the company’s stock worth $778,560,000 after purchasing an additional 92,658 shares in the last quarter. 86.30% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on ROKU shares. Macquarie reduced their target price on Roku from $88.00 to $72.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price objective on shares of Roku in a research note on Friday, September 13th. Guggenheim raised Roku from a “neutral” rating to a “buy” rating and set a $75.00 target price on the stock in a research note on Friday, August 23rd. Citigroup increased their price target on shares of Roku from $60.00 to $77.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Finally, Moffett Nathanson raised shares of Roku from a “sell” rating to a “neutral” rating and set a $80.00 price objective on the stock in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $80.29.

Roku Stock Down 0.4 %

NASDAQ:ROKU opened at $74.34 on Wednesday. The company’s 50 day moving average is $64.68 and its 200-day moving average is $61.58. The firm has a market cap of $10.76 billion, a price-to-earnings ratio of -18.63 and a beta of 2.06. Roku, Inc. has a 12 month low of $48.33 and a 12 month high of $108.84.

Roku (NASDAQ:ROKU) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.21. The company had revenue of $968.18 million during the quarter, compared to analysts’ expectations of $937.78 million. Roku had a negative net margin of 13.16% and a negative return on equity of 21.03%. The business’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.76) earnings per share. Research analysts predict that Roku, Inc. will post -1.44 EPS for the current fiscal year.

Insider Buying and Selling at Roku

In other news, CFO Dan Jedda sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $75.33, for a total transaction of $75,330.00. Following the completion of the transaction, the chief financial officer now directly owns 54,267 shares in the company, valued at $4,087,933.11. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Charles Collier sold 15,454 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 $1,159,050.00. Following the transaction, the insider now directly owns 200 shares in the company, valued at $15,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Dan Jedda sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $75.33, for a total value of $75,330.00. Following the completion of the sale, the chief financial officer now owns 54,267 shares of the company’s stock, valued at approximately $4,087,933.11. The disclosure for this sale can be found here. Insiders have sold 46,945 shares of company stock valued at $3,465,135 in the last 90 days. 13.98% of the stock is currently owned by insiders.

Roku Company 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.