Roku, Inc. (NASDAQ:ROKU) Position Lessened by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC reduced its stake in shares of Roku, Inc. (NASDAQ:ROKU) by 23.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,201 shares of the company’s stock after selling 1,635 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Roku were worth $388,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in ROKU. Canada Pension Plan Investment Board boosted its holdings in shares of Roku by 138.1% during the first quarter. Canada Pension Plan Investment Board now owns 342,400 shares of the company’s stock valued at $22,314,000 after acquiring an additional 198,600 shares during the period. AQR Capital Management LLC grew its position in Roku by 645.3% in the 2nd quarter. AQR Capital Management LLC now owns 221,557 shares of the company’s stock worth $13,278,000 after purchasing an additional 191,831 shares during the last quarter. ARK Investment Management LLC increased its stake in shares of Roku by 1.3% in the second quarter. ARK Investment Management LLC now owns 12,716,432 shares of the company’s stock valued at $762,096,000 after purchasing an additional 159,785 shares during the period. Andra AP fonden raised its holdings in shares of Roku by 116.6% during the second quarter. Andra AP fonden now owns 293,900 shares of the company’s stock valued at $17,613,000 after buying an additional 158,200 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its position in shares of Roku by 6,522.2% during the first quarter. Acadian Asset Management LLC now owns 157,409 shares of the company’s stock worth $10,252,000 after buying an additional 155,032 shares during the period. 86.30% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Roku news, CFO Dan Jedda sold 1,000 shares of Roku stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $75.33, for a total transaction of $75,330.00. Following the transaction, the chief financial officer now owns 54,267 shares of the company’s stock, valued at $4,087,933.11. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CFO Dan Jedda sold 1,000 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $75.33, for a total transaction of $75,330.00. Following the transaction, the chief financial officer now directly owns 54,267 shares in the company, valued at $4,087,933.11. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Gilbert Fuchsberg sold 1,693 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total value of $109,012.27. Following the sale, the insider now owns 38,602 shares of the company’s stock, valued at approximately $2,485,582.78. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 69,776 shares of company stock valued at $5,267,305. Corporate insiders own 13.98% of the company’s stock.

Analyst Upgrades and Downgrades

ROKU has been the topic of several recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 target price on shares of Roku in a research note on Thursday, October 31st. Wolfe Research raised shares of Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 price objective for the company in a report on Thursday, September 12th. Guggenheim raised shares of 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. Wells Fargo & Company increased their price objective on shares of Roku from $72.00 to $74.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Finally, JPMorgan Chase & Co. raised their price objective on shares of Roku from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. 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. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $83.95.

Roku Price Performance

ROKU stock opened at $73.82 on Friday. The company’s 50 day simple moving average is $73.47 and its 200-day simple moving average is $64.18. Roku, Inc. has a 52-week low of $48.33 and a 52-week high of $108.84. The firm has a market capitalization of $10.72 billion, a P/E ratio of -61.52 and a beta of 2.07.

Roku (NASDAQ:ROKU) last released its earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.29. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. Roku had a negative return on equity of 7.22% and a negative net margin of 4.42%. The company’s revenue for the quarter was up 16.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($2.33) earnings per share. Sell-side analysts predict that Roku, Inc. will post -1.1 EPS for the current fiscal year.

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.