Stifel Financial Corp Reduces Stock Position in Roku, Inc. (NASDAQ:ROKU)

Stifel Financial Corp lessened its holdings in shares of Roku, Inc. (NASDAQ:ROKU) by 13.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,416 shares of the company’s stock after selling 4,031 shares during the period. Stifel Financial Corp’s holdings in Roku were worth $1,898,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the stock. Holocene Advisors LP acquired a new stake in shares of Roku in the third quarter valued at about $129,015,000. Westfield Capital Management Co. LP raised its position in shares of Roku by 126.1% in the third quarter. Westfield Capital Management Co. LP now owns 1,535,576 shares of the company’s stock valued at $114,646,000 after buying an additional 856,401 shares during the last quarter. Point72 Asset Management L.P. raised its holdings in Roku by 352.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 651,658 shares of the company’s stock valued at $48,653,000 after acquiring an additional 507,643 shares during the last quarter. JAT Capital Mgmt LP grew its position in shares of Roku by 470.2% in the third quarter. JAT Capital Mgmt LP now owns 540,577 shares of the company’s stock valued at $40,359,000 after purchasing an additional 445,777 shares in the last quarter. Finally, FMR LLC boosted its stake in Roku by 1.7% during the third quarter. FMR LLC now owns 14,570,372 shares of the company’s stock worth $1,087,824,000 after buying an additional 244,793 shares during the last quarter. Hedge funds and other institutional investors own 86.30% of the company’s stock.

Roku Stock Up 2.8 %

ROKU opened at $80.59 on Friday. 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 $11.70 billion, a P/E ratio of -67.16 and a beta of 2.06. The stock’s 50 day moving average price is $75.32 and its two-hundred day moving average price is $67.71.

Roku (NASDAQ:ROKU) last released its earnings results on Wednesday, October 30th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.35) by $0.29. The company had revenue of $1.06 billion during 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%. The business’s revenue for the quarter was up 16.5% on a year-over-year basis. During the same period last year, the firm earned ($2.33) EPS. As a group, analysts anticipate that Roku, Inc. will post -1.1 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on ROKU shares. Rosenblatt Securities lifted their price target on shares of Roku from $61.00 to $86.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Wolfe Research raised Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 price objective on the stock in a research report on Thursday, September 12th. UBS Group began coverage on Roku in a report on Friday, November 22nd. They issued a “neutral” rating and a $73.00 price target for the company. Piper Sandler raised their target price on shares of Roku from $60.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, Baird R W upgraded Roku from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 18th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Roku presently has a consensus rating of “Moderate Buy” and an average price target of $83.81.

Insider Transactions at Roku

In other news, insider Charles Collier sold 10,771 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $71.14, for a total transaction of $766,248.94. Following the completion of the transaction, the insider now directly owns 3,790 shares of the company’s stock, valued at $269,620.60. This trade represents a 73.97 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Dan Jedda sold 1,000 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $76.25, for a total transaction of $76,250.00. Following the transaction, the chief financial officer now owns 53,267 shares of the company’s stock, valued at $4,061,608.75. The trade was a 1.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 73,096 shares of company stock valued at $5,661,223 over the last three months. Company insiders own 13.98% of the company’s stock.

Roku Profile

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.