Roku, Inc. (NASDAQ:ROKU) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its position in shares of Roku, Inc. (NASDAQ:ROKU) by 1.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 506,317 shares of the company’s stock after selling 6,342 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.35% of Roku worth $37,640,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of ROKU. Geneos Wealth Management Inc. grew its holdings in shares of Roku by 369.9% during the fourth quarter. Geneos Wealth Management Inc. now owns 343 shares of the company’s stock worth $25,000 after buying an additional 270 shares in the last quarter. Raelipskie Partnership purchased a new stake in Roku during the third quarter worth approximately $32,000. Game Plan Financial Advisors LLC acquired a new position in shares of Roku during the fourth quarter worth $37,000. GS Investments Inc. lifted its position in shares of Roku by 33.4% during the third quarter. GS Investments Inc. now owns 587 shares of the company’s stock worth $44,000 after purchasing an additional 147 shares in the last quarter. Finally, Allworth Financial LP lifted its position in shares of Roku by 52.8% during the fourth quarter. Allworth Financial LP now owns 634 shares of the company’s stock worth $50,000 after purchasing an additional 219 shares in the last quarter. 86.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Roku

In other news, CFO Dan Jedda sold 5,000 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $100.40, for a total value of $502,000.00. Following the completion of the sale, the chief financial officer now directly owns 58,555 shares of the company’s stock, valued at $5,878,922. This represents a 7.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was 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 owns 26,538 shares in the company, valued at $2,193,100.32. This represents a 48.51 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 118,308 shares of company stock valued at $10,362,166. 13.98% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ROKU has been the topic of a number of recent research reports. JMP Securities boosted their target price on shares of Roku from $95.00 to $115.00 and gave the stock a “market outperform” rating in a research report on Friday, February 14th. Citigroup boosted their target price on shares of Roku from $70.00 to $103.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Citizens Jmp raised shares of Roku to a “strong-buy” rating in a report on Tuesday, January 21st. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price target on shares of Roku in a report on Tuesday, January 7th. Finally, Wells Fargo & Company raised shares of Roku from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $74.00 to $129.00 in a report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Roku presently has a consensus rating of “Moderate Buy” and a consensus price target of $96.71.

Roku Stock Down 3.7 %

Shares of ROKU opened at $76.67 on Friday. The firm has a 50-day moving average price of $82.29 and a 200 day moving average price of $76.84. The firm has a market capitalization of $11.19 billion, a PE ratio of -86.15 and a beta of 2.12. Roku, Inc. has a 52-week low of $48.33 and a 52-week high of $104.96.

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

Roku Company 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.