Forsta AP Fonden Sells 2,200 Shares of Roku, Inc. (NASDAQ:ROKU)

Forsta AP Fonden lowered its position in shares of Roku, Inc. (NASDAQ:ROKU) by 7.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,500 shares of the company’s stock after selling 2,200 shares during the period. Forsta AP Fonden’s holdings in Roku were worth $1,588,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ROKU. Swedbank AB purchased a new stake in Roku in the first quarter worth approximately $1,180,000. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Roku by 8.7% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 11,381 shares of the company’s stock valued at $1,043,000 after purchasing an additional 914 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Roku by 238.6% during the 2nd quarter. SG Americas Securities LLC now owns 73,528 shares of the company’s stock valued at $4,407,000 after purchasing an additional 51,815 shares during the last quarter. Norges Bank purchased a new position in Roku in the 4th quarter worth $90,386,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Roku by 23.3% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 62,822 shares of the company’s stock worth $4,094,000 after purchasing an additional 11,851 shares during the last quarter. 86.30% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Gilbert Fuchsberg sold 1,693 shares of the business’s stock in a transaction that occurred 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 directly owns 38,602 shares of the company’s stock, valued at approximately $2,485,582.78. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Roku news, insider Charles Collier sold 15,454 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $75.00, for a total transaction of $1,159,050.00. Following the completion of the sale, the insider now directly owns 200 shares in the company, valued at approximately $15,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Gilbert Fuchsberg sold 1,693 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total transaction of $109,012.27. Following the completion of the transaction, the insider now owns 38,602 shares in the company, valued at approximately $2,485,582.78. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 45,945 shares of company stock worth $3,389,805. 13.98% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Guggenheim upgraded Roku from a “neutral” rating to a “buy” rating and set a $75.00 price objective on the stock in a report on Friday, August 23rd. Benchmark reaffirmed a “buy” rating and issued a $105.00 price target on shares of Roku in a research note on Thursday, September 12th. JPMorgan Chase & Co. dropped their price objective on Roku from $90.00 to $80.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Wedbush reaffirmed an “outperform” rating and issued a $75.00 target price on shares of Roku in a research note on Friday, August 2nd. Finally, Macquarie dropped their price target on shares of Roku from $88.00 to $72.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $78.25.

Roku Stock Down 0.4 %

NASDAQ ROKU opened at $74.37 on Tuesday. The firm has a market capitalization of $10.76 billion, a PE ratio of -18.64 and a beta of 2.06. The stock’s 50 day moving average is $62.15 and its 200 day moving average is $60.76. Roku, Inc. has a twelve month low of $48.33 and a twelve month high of $108.84.

Roku (NASDAQ:ROKU) last announced its earnings results on Thursday, August 1st. The company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.21. The firm had revenue of $968.18 million for 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 company’s quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.76) EPS. On average, research analysts anticipate that Roku, Inc. will post -1.45 earnings per share for the current year.

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.