Point72 Hong Kong Ltd Sells 3,930 Shares of Roku, Inc. (NASDAQ:ROKU)

Point72 Hong Kong Ltd lowered its stake in shares of Roku, Inc. (NASDAQ:ROKU) by 57.1% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 2,951 shares of the company’s stock after selling 3,930 shares during the period. Point72 Hong Kong Ltd’s holdings in Roku were worth $177,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Swedbank AB acquired a new position in shares of Roku during the first quarter valued at about $1,180,000. SG Americas Securities LLC raised its position 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 buying an additional 51,815 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Roku by 23.3% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 62,822 shares of the company’s stock valued at $4,094,000 after buying an additional 11,851 shares during the last quarter. Garde Capital Inc. acquired a new position in shares of Roku during the fourth quarter valued at about $105,000. Finally, Vanguard Group Inc. raised its position in shares of Roku by 0.8% during the first quarter. Vanguard Group Inc. now owns 11,946,605 shares of the company’s stock valued at $778,560,000 after buying an additional 92,658 shares during the last quarter. Institutional investors and hedge funds own 86.30% of the company’s stock.

Roku Price Performance

ROKU opened at $73.70 on Friday. Roku, Inc. has a one year low of $48.33 and a one year high of $108.84. The company’s 50 day simple moving average is $64.19 and its 200-day simple moving average is $61.48. The stock has a market capitalization of $10.62 billion, a P/E ratio of -18.47 and a beta of 2.06.

Roku (NASDAQ:ROKU) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.24) 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 for the quarter, compared to analysts’ expectations of $937.78 million. During the same period in the prior year, the firm earned ($0.76) earnings per share. Roku’s revenue was up 14.3% compared to the same quarter last year. As a group, analysts anticipate that Roku, Inc. will post -1.44 EPS for the current year.

Analyst Ratings Changes

ROKU has been the subject of a number of research analyst reports. Benchmark reaffirmed a “buy” rating and set a $105.00 price objective on shares of Roku in a research report on Thursday, September 12th. JPMorgan Chase & Co. upped their target price on shares of Roku from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, September 18th. Macquarie lowered their target price on shares of Roku from $88.00 to $72.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Wells Fargo & Company raised shares of Roku from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $50.00 to $72.00 in a research note on Thursday, September 5th. Finally, Bank of America lowered their target price on shares of Roku from $85.00 to $75.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $79.10.

Insider Activity at Roku

In related news, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $75.00, for a total value of $1,875,000.00. Following the transaction, the chief executive officer now directly owns 5,020 shares in the company, valued at $376,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $75.00, for a total value of $1,875,000.00. Following the transaction, the chief executive officer now directly owns 5,020 shares in the company, valued at $376,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Dan Jedda sold 1,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 54,267 shares in the company, valued at $4,087,933.11. The disclosure for this sale can be found here. Insiders have sold 46,945 shares of company stock worth $3,465,135 over the last ninety days. Company insiders own 13.98% of the company’s stock.

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.