Wellington Management Group LLP Reduces Position in Roku, Inc. (NASDAQ:ROKU)

Wellington Management Group LLP cut its holdings in shares of Roku, Inc. (NASDAQ:ROKU) by 4.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,125 shares of the company’s stock after selling 462 shares during the quarter. Wellington Management Group LLP’s holdings in Roku were worth $681,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Weiss Asset Management LP acquired a new position in Roku in the 3rd quarter valued at about $616,000. Tabor Asset Management LP acquired a new position in Roku in the third quarter valued at approximately $1,310,000. Safe Harbor Fiduciary LLC purchased a new position in Roku in the third quarter worth approximately $172,000. Quadrature Capital Ltd acquired a new stake in Roku during the third quarter worth $5,113,000. Finally, Quantinno Capital Management LP raised its position in Roku by 21.3% in the third quarter. Quantinno Capital Management LP now owns 74,289 shares of the company’s stock valued at $5,546,000 after purchasing an additional 13,049 shares during the period. Hedge funds and other institutional investors own 86.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Rosenblatt Securities raised their price objective on Roku from $61.00 to $86.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Wolfe Research upgraded shares of Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 price target for the company in a research report on Thursday, September 12th. Benchmark restated a “buy” rating and issued a $105.00 price objective on shares of Roku in a report on Thursday, September 12th. UBS Group assumed coverage on shares of Roku in a report on Friday, November 22nd. They issued a “neutral” rating and a $73.00 target price for the company. Finally, Robert W. Baird raised Roku from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $70.00 to $90.00 in a research report on Monday, November 18th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $83.81.

Insider Transactions at Roku

In other Roku news, CAO Matthew C. Banks sold 8,693 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $71.44, for a total value of $621,027.92. Following the completion of the transaction, the chief accounting officer now directly owns 7,264 shares of the company’s stock, valued at approximately $518,940.16. This trade represents a 54.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Charles Collier sold 10,771 shares of Roku stock in a transaction on Monday, November 18th. The stock was sold at an average price of $71.14, for a total value of $766,248.94. Following the transaction, the insider now directly owns 3,790 shares of the company’s stock, valued at approximately $269,620.60. This represents a 73.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 73,096 shares of company stock valued at $5,661,223. Corporate insiders own 13.98% of the company’s stock.

Roku Stock Performance

NASDAQ ROKU opened at $80.59 on Friday. The firm’s fifty day moving average is $75.32 and its two-hundred day moving average is $67.71. Roku, Inc. has a one year low of $48.33 and a one year high of $99.80. The firm has a market cap of $11.70 billion, a PE ratio of -67.16 and a beta of 2.06.

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

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.