Sei Investments Co. Decreases Stake in Roku, Inc. (NASDAQ:ROKU)

Sei Investments Co. cut its position in Roku, Inc. (NASDAQ:ROKU) by 29.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,421 shares of the company’s stock after selling 4,271 shares during the period. Sei Investments Co.’s holdings in Roku were worth $625,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of ROKU. Mcdonald Partners LLC grew its position in shares of Roku by 0.9% in the 2nd quarter. Mcdonald Partners LLC now owns 19,608 shares of the company’s stock valued at $1,175,000 after buying an additional 175 shares during the last quarter. Benjamin Edwards Inc. increased its position in shares of Roku by 43.5% during the first quarter. Benjamin Edwards Inc. now owns 617 shares of the company’s stock worth $40,000 after purchasing an additional 187 shares in the last quarter. Beacon Capital Management LLC increased its position in shares of Roku by 17.7% during the first quarter. Beacon Capital Management LLC now owns 1,547 shares of the company’s stock worth $101,000 after purchasing an additional 233 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of Roku by 0.7% in the 2nd quarter. Arizona State Retirement System now owns 34,656 shares of the company’s stock valued at $2,077,000 after purchasing an additional 251 shares during the last quarter. Finally, Quarry LP boosted its position in shares of Roku by 160.2% in the 4th quarter. Quarry LP now owns 432 shares of the company’s stock valued at $40,000 after purchasing an additional 266 shares during the period. 86.30% of the stock is currently owned by institutional investors and hedge funds.

Roku Stock Performance

Shares of ROKU stock opened at $78.57 on Wednesday. The stock has a fifty day moving average price of $66.77 and a 200 day moving average price of $62.07. The stock has a market cap of $11.33 billion, a PE ratio of -19.69 and a beta of 2.08. Roku, Inc. has a 1 year low of $48.33 and a 1 year high of $108.84.

Roku (NASDAQ:ROKU) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.21. The business had revenue of $968.18 million during the quarter, compared to the consensus estimate of $937.78 million. Roku had a negative return on equity of 21.03% and a negative net margin of 13.16%. The business’s revenue was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.76) EPS. As a group, equities research analysts predict that Roku, Inc. will post -1.44 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ROKU. Wolfe Research raised Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 price objective for the company in a report on Thursday, September 12th. Benchmark reissued a “buy” rating and set a $105.00 price objective on shares of Roku in a research report on Thursday, September 12th. Guggenheim upgraded shares of Roku from a “neutral” rating to a “buy” rating and set a $75.00 price objective on the stock in a research note on Friday, August 23rd. Macquarie increased their target price on shares of Roku from $72.00 to $90.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. Finally, Needham & Company LLC restated a “buy” rating and issued a $100.00 price target on shares of Roku in a research report on Friday, September 13th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Roku presently has an average rating of “Hold” and an average target price of $81.14.

Insiders Place Their Bets

In other news, insider Gilbert Fuchsberg sold 1,693 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 38,602 shares in the company, valued at $2,485,582.78. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Dan Jedda sold 1,000 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $75.33, for a total value of $75,330.00. Following the completion of the transaction, the chief financial officer now owns 54,267 shares of the company’s stock, valued at approximately $4,087,933.11. The trade was a 0.00 % 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 firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total transaction of $109,012.27. Following the sale, the insider now directly owns 38,602 shares in the company, valued at $2,485,582.78. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 47,156 shares of company stock worth $3,481,100. 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.