Roku, Inc. (NASDAQ:ROKU) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC trimmed its holdings in shares of Roku, Inc. (NASDAQ:ROKU) by 20.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 24,852 shares of the company’s stock after selling 6,288 shares during the period. Commonwealth Equity Services LLC’s holdings in Roku were worth $1,847,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of ROKU. Charles Schwab Investment Management Inc. raised its position in shares of Roku by 3.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 955,969 shares of the company’s stock worth $71,373,000 after buying an additional 30,038 shares in the last quarter. Citigroup Inc. raised its holdings in Roku by 73.0% during the third quarter. Citigroup Inc. now owns 101,529 shares of the company’s stock worth $7,580,000 after purchasing an additional 42,837 shares in the last quarter. Cerity Partners LLC lifted its position in Roku by 11.1% in the third quarter. Cerity Partners LLC now owns 26,534 shares of the company’s stock worth $1,981,000 after purchasing an additional 2,644 shares during the period. Brooklyn Investment Group bought a new position in Roku during the 3rd quarter valued at $95,000. Finally, Summit Partners Public Asset Management LLC acquired a new position in shares of Roku during the 3rd quarter valued at $896,000. 86.30% of the stock is currently owned by institutional investors.

Insider Transactions at Roku

In other Roku news, CFO Dan Jedda sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $75.00, for a total value of $75,000.00. Following the completion of the sale, the chief financial officer now owns 68,843 shares in the company, valued at approximately $5,163,225. This trade represents a 1.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Charles Collier sold 7,181 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $78.25, for a total value of $561,913.25. Following the sale, the insider now owns 7,380 shares in the company, valued at approximately $577,485. This represents a 49.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 97,908 shares of company stock worth $8,633,436. Company insiders own 13.98% of the company’s stock.

Roku Stock Performance

ROKU opened at $72.49 on Friday. Roku, Inc. has a twelve month low of $48.33 and a twelve month high of $104.96. The firm has a market cap of $10.58 billion, a P/E ratio of -81.45 and a beta of 2.12. The business has a 50 day moving average price of $81.10 and a 200 day moving average price of $77.59.

Roku (NASDAQ:ROKU) last posted its earnings results on Thursday, February 13th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.20. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.15 billion. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. As a group, analysts anticipate that Roku, Inc. will post -0.3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ROKU shares. Citizens Jmp upgraded shares of Roku to a “strong-buy” rating in a research report on Tuesday, January 21st. JMP Securities raised their price objective on Roku from $95.00 to $115.00 and gave the stock a “market outperform” rating in a research note on Friday, February 14th. Needham & Company LLC restated a “buy” rating and set a $120.00 price objective on shares of Roku in a report on Monday, March 24th. Pivotal Research upgraded shares of Roku from a “hold” rating to a “buy” rating and raised their target price for the stock from $65.00 to $125.00 in a report on Friday, February 14th. Finally, Jefferies Financial Group upgraded shares of Roku from an “underperform” rating to a “hold” rating and lifted their price objective for the stock from $55.00 to $100.00 in a research report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $96.55.

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.