Empowered Funds LLC Sells 378 Shares of Roku, Inc. (NASDAQ:ROKU)

Empowered Funds LLC cut its holdings in shares of Roku, Inc. (NASDAQ:ROKU) by 6.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,219 shares of the company’s stock after selling 378 shares during the period. Empowered Funds LLC’s holdings in Roku were worth $390,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in ROKU. AQR Capital Management LLC grew its holdings in shares of Roku by 645.3% in the second quarter. AQR Capital Management LLC now owns 221,557 shares of the company’s stock valued at $13,278,000 after acquiring an additional 191,831 shares in the last quarter. ARK Investment Management LLC raised its position in shares of Roku by 1.3% during the 2nd quarter. ARK Investment Management LLC now owns 12,716,432 shares of the company’s stock valued at $762,096,000 after buying an additional 159,785 shares in the last quarter. Andra AP fonden lifted its stake in Roku by 116.6% during the second quarter. Andra AP fonden now owns 293,900 shares of the company’s stock worth $17,613,000 after purchasing an additional 158,200 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its position in Roku by 323.6% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 199,911 shares of the company’s stock worth $13,028,000 after buying an additional 152,719 shares during the last quarter. Finally, Jupiter Asset Management Ltd. lifted its holdings in shares of Roku by 279.5% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 175,645 shares of the company’s stock worth $10,526,000 after acquiring an additional 129,360 shares during the last quarter. Institutional investors and hedge funds own 86.30% of the company’s stock.

Roku Stock Down 1.4 %

NASDAQ ROKU opened at $68.22 on Tuesday. The stock’s 50-day moving average price is $74.45 and its 200-day moving average price is $65.13. The company has a market capitalization of $9.91 billion, a P/E ratio of -56.85 and a beta of 2.07. Roku, Inc. has a 52 week low of $48.33 and a 52 week high of $108.84.

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

Wall Street Analyst Weigh In

ROKU has been the subject of a number of analyst reports. Wedbush increased their price objective on Roku from $75.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Piper Sandler upped their target price on Roku from $60.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Bank of America increased their price target on shares of Roku from $75.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. JPMorgan Chase & Co. lifted their price objective on Roku from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Finally, Loop Capital upped their target price on shares of Roku from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $84.14.

Insider Transactions at Roku

In related news, insider Gilbert Fuchsberg sold 1,693 shares of the stock in a transaction dated Wednesday, September 4th. The shares were 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 $2,485,582.78. This represents a 4.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 5,020 shares of the company’s stock, valued at $387,544. This represents a 83.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 90,240 shares of company stock valued at $6,729,582. 13.98% of the stock is currently owned by corporate insiders.

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.