Principal Financial Group Inc. Trims Stock Holdings in Roku, Inc. (NASDAQ:ROKU)

Principal Financial Group Inc. cut its holdings in shares of Roku, Inc. (NASDAQ:ROKU) by 10.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,535 shares of the company’s stock after selling 999 shares during the period. Principal Financial Group Inc.’s holdings in Roku were worth $637,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. GS Investments Inc. increased its position in Roku by 33.4% in the 3rd quarter. GS Investments Inc. now owns 587 shares of the company’s stock valued at $44,000 after acquiring an additional 147 shares during the period. PFG Investments LLC increased its holdings in shares of Roku by 3.7% in the third quarter. PFG Investments LLC now owns 4,157 shares of the company’s stock valued at $310,000 after purchasing an additional 150 shares during the period. True Vision MN LLC raised its stake in shares of Roku by 3.1% during the third quarter. True Vision MN LLC now owns 5,018 shares of the company’s stock worth $375,000 after purchasing an additional 152 shares during the last quarter. Sequoia Financial Advisors LLC lifted its holdings in shares of Roku by 4.5% during the third quarter. Sequoia Financial Advisors LLC now owns 4,721 shares of the company’s stock worth $352,000 after purchasing an additional 202 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in Roku by 11.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,207 shares of the company’s stock valued at $165,000 after buying an additional 222 shares during the last quarter. 86.30% of the stock is owned by institutional investors and hedge funds.

Roku Price Performance

ROKU stock opened at $77.38 on Monday. Roku, Inc. has a 12 month low of $48.33 and a 12 month high of $99.80. The firm has a market capitalization of $11.24 billion, a PE ratio of -64.48 and a beta of 2.05. The company’s 50 day simple moving average is $75.39 and its 200-day simple moving average is $69.24.

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

Insider Buying and Selling

In related news, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $77.20, for a total transaction of $1,930,000.00. Following the sale, the chief executive officer now owns 5,020 shares in the company, valued at approximately $387,544. This trade represents a 83.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Dan Jedda sold 1,000 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $82.73, for a total value of $82,730.00. Following the completion of the transaction, the chief financial officer now owns 64,555 shares of the company’s stock, valued at $5,340,635.15. This trade represents a 1.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 73,095 shares of company stock worth $5,661,038. 13.98% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Benchmark restated a “buy” rating and issued a $105.00 target price on shares of Roku in a research note on Thursday, September 12th. Citigroup raised their price objective on shares of Roku from $60.00 to $77.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Wedbush reiterated an “outperform” rating and set a $100.00 target price (up previously from $85.00) on shares of Roku in a research report on Friday, December 6th. Rosenblatt Securities raised their price target on Roku from $61.00 to $86.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, Robert W. Baird raised Roku from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $70.00 to $90.00 in a report on Monday, November 18th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $83.81.

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.