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

Principal Financial Group Inc. cut its holdings in Roku, Inc. (NASDAQ:ROKU) by 10.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm 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 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. EverSource Wealth Advisors LLC lifted its holdings in shares of Roku by 123.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company’s stock worth $40,000 after acquiring an additional 375 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new stake in shares of Roku during the third quarter worth about $43,000. Cedar Wealth Management LLC bought a new stake in shares of Roku in the 2nd quarter worth approximately $48,000. Natixis bought a new stake in Roku in the first quarter valued at $53,000. Finally, Versant Capital Management Inc boosted its stake in shares of Roku by 706.2% during the 2nd quarter. Versant Capital Management Inc now owns 911 shares of the company’s stock valued at $55,000 after purchasing an additional 798 shares in the last quarter. Institutional investors own 86.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. UBS Group initiated coverage on Roku in a research note on Friday. They issued a “neutral” rating and a $73.00 price target on the stock. Wolfe Research upgraded Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 price target for the company in a report on Thursday, September 12th. Citigroup boosted their price objective on shares of Roku from $60.00 to $77.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Robert W. Baird upgraded shares of Roku from a “neutral” rating to an “outperform” rating and upped their target price for the company from $70.00 to $90.00 in a research note on Monday, November 18th. Finally, Rosenblatt Securities raised their target price on Roku from $61.00 to $86.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $84.14.

Insider Buying and Selling at Roku

In related news, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $77.20, for a total value of $1,930,000.00. Following the transaction, the chief executive officer now owns 5,020 shares of the company’s stock, valued at approximately $387,544. This trade represents a 83.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Gilbert Fuchsberg sold 1,693 shares of the stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $64.39, for a total value of $109,012.27. Following the completion of the sale, the insider now owns 38,602 shares of the company’s stock, valued at $2,485,582.78. The trade was a 4.20 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 90,240 shares of company stock valued at $6,729,582. Company insiders own 13.98% of the company’s stock.

Roku Trading Up 0.8 %

Shares of ROKU opened at $69.20 on Friday. The firm has a market capitalization of $10.05 billion, a P/E ratio of -57.67 and a beta of 2.07. Roku, Inc. has a twelve month low of $48.33 and a twelve month high of $108.84. The stock’s fifty day simple moving average is $74.45 and its 200 day simple moving average is $65.06.

Roku (NASDAQ:ROKU) last announced its earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share 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 company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same period last year, the firm earned ($2.33) earnings per share. The company’s revenue was up 16.5% on a year-over-year basis. Sell-side analysts predict that Roku, Inc. will post -1.1 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.