Harbor Capital Advisors Inc. Decreases Stake in Roku, Inc. (NASDAQ:ROKU)

Harbor Capital Advisors Inc. cut its holdings in shares of Roku, Inc. (NASDAQ:ROKU) by 37.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,534 shares of the company’s stock after selling 3,272 shares during the period. Harbor Capital Advisors Inc.’s holdings in Roku were worth $411,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Holocene Advisors LP bought a new stake in Roku in the 3rd quarter worth approximately $129,015,000. Kessler Investment Group LLC boosted its stake in shares of Roku by 21.8% in the 3rd quarter. Kessler Investment Group LLC now owns 75,968 shares of the company’s stock worth $5,672,000 after buying an additional 13,590 shares during the last quarter. National Bank of Canada FI grew its holdings in shares of Roku by 11,626.3% in the third quarter. National Bank of Canada FI now owns 150,800 shares of the company’s stock worth $11,259,000 after acquiring an additional 149,514 shares during the period. EULAV Asset Management increased its position in Roku by 59.1% during the third quarter. EULAV Asset Management now owns 183,000 shares of the company’s stock valued at $13,663,000 after acquiring an additional 68,000 shares during the last quarter. Finally, Granite Bay Wealth Management LLC bought a new position in Roku in the second quarter valued at about $1,142,000. 86.30% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ROKU has been the subject of several research reports. JPMorgan Chase & Co. upped their price target on shares of Roku from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Loop Capital upped their target price on shares of Roku from $70.00 to $80.00 and gave the company a “hold” rating in a report on Monday, December 9th. Wells Fargo & Company lifted their price target on shares of Roku from $72.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Jefferies Financial Group reduced their price objective on Roku from $60.00 to $55.00 and set an “underperform” rating for the company in a research note on Friday, November 1st. Finally, Citigroup lifted their target price on Roku from $60.00 to $77.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Roku has an average rating of “Hold” and an average target price of $82.62.

Insiders Place Their Bets

In related news, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $82.64, for a total value of $2,066,000.00. Following the completion of the transaction, the chief executive officer now directly owns 26,538 shares of the company’s stock, valued at approximately $2,193,100.32. This trade represents a 48.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Dan Jedda sold 1,000 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $82.73, for a total transaction of $82,730.00. Following the completion of the sale, the chief financial officer now owns 64,555 shares in the company, valued at $5,340,635.15. This represents a 1.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 72,095 shares of company stock valued at $5,649,038 in the last quarter. 13.98% of the stock is currently owned by insiders.

Roku Stock Performance

ROKU opened at $74.80 on Wednesday. The stock has a market capitalization of $10.86 billion, a price-to-earnings ratio of -62.33 and a beta of 2.05. The company has a fifty day moving average of $76.55 and a 200 day moving average of $70.49. Roku, Inc. has a fifty-two week low of $48.33 and a fifty-two week high of $99.80.

Roku (NASDAQ:ROKU) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.35) by $0.29. Roku had a negative net margin of 4.42% and a negative return on equity of 7.22%. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the prior year, the firm earned ($2.33) EPS. The business’s revenue was up 16.5% on a year-over-year basis. On average, equities research analysts forecast 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.