Roku, Inc. (NASDAQ:ROKU) Shares Sold by Truist Financial Corp

Truist Financial Corp cut its holdings in Roku, Inc. (NASDAQ:ROKU) by 2.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,521 shares of the company’s stock after selling 169 shares during the quarter. Truist Financial Corp’s holdings in Roku were worth $391,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Quarry LP increased its stake in Roku by 127.9% in the second quarter. Quarry LP now owns 1,682 shares of the company’s stock valued at $101,000 after purchasing an additional 944 shares during the period. Algert Global LLC increased its stake in Roku by 144.4% in the second quarter. Algert Global LLC now owns 55,177 shares of the company’s stock valued at $3,307,000 after purchasing an additional 32,603 shares during the period. Empirical Capital Management LLC increased its stake in Roku by 10.0% in the second quarter. Empirical Capital Management LLC now owns 177,000 shares of the company’s stock valued at $10,608,000 after purchasing an additional 16,031 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in shares of Roku during the second quarter worth about $3,437,000. Finally, Mackenzie Financial Corp acquired a new position in shares of Roku during the second quarter worth about $662,000. 86.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Gilbert Fuchsberg sold 1,693 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $64.39, for a total transaction of $109,012.27. Following the completion of the transaction, the insider now owns 38,602 shares of the company’s stock, valued at approximately $2,485,582.78. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $75.00, for a total value of $1,875,000.00. Following the completion of the sale, the chief executive officer now owns 5,020 shares of the company’s stock, valued at $376,500. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gilbert Fuchsberg sold 1,693 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total transaction of $109,012.27. Following the completion of the sale, the insider now directly owns 38,602 shares of the company’s stock, valued at $2,485,582.78. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 69,566 shares of company stock valued at $5,254,000. Insiders own 13.98% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ROKU. Moffett Nathanson upgraded shares of Roku from a “sell” rating to a “neutral” rating and set a $80.00 price target on the stock in a research note on Tuesday, October 1st. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price target on shares of Roku in a research note on Friday, September 13th. Wedbush reiterated an “outperform” rating and set a $75.00 price target on shares of Roku in a research note on Friday, August 2nd. Citigroup boosted their price objective on shares of Roku from $60.00 to $77.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Finally, Bank of America boosted their price objective on shares of Roku from $75.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $81.24.

Roku Price Performance

Shares of ROKU opened at $76.95 on Friday. The company’s 50 day simple moving average is $70.03 and its 200 day simple moving average is $62.72. Roku, Inc. has a 1 year low of $48.33 and a 1 year high of $108.84.

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

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.