Ameriprise Financial Inc. Sells 386,555 Shares of Roku, Inc. (NASDAQ:ROKU)

Ameriprise Financial Inc. trimmed its holdings in shares of Roku, Inc. (NASDAQ:ROKU - Free Report) by 95.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 20,490 shares of the company's stock after selling 386,555 shares during the period. Ameriprise Financial Inc.'s holdings in Roku were worth $1,523,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. FMR LLC increased its stake in shares of Roku by 31.7% in the 4th quarter. FMR LLC now owns 19,183,942 shares of the company's stock valued at $1,426,134,000 after acquiring an additional 4,613,570 shares during the last quarter. Vanguard Group Inc. lifted its position in Roku by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 12,249,091 shares of the company's stock worth $910,597,000 after purchasing an additional 185,676 shares during the period. Marshall Wace LLP boosted its stake in shares of Roku by 663.9% in the 4th quarter. Marshall Wace LLP now owns 2,335,813 shares of the company's stock valued at $173,644,000 after purchasing an additional 2,030,036 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its position in Roku by 10.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,269,751 shares of the company's stock worth $168,734,000 after buying an additional 215,841 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Roku by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 2,147,259 shares of the company's stock worth $159,353,000 after acquiring an additional 56,820 shares during the period. Institutional investors own 86.30% of the company's stock.

Roku Stock Up 0.8%

Shares of ROKU stock traded up $0.58 during trading hours on Tuesday, hitting $73.59. 2,001,481 shares of the company were exchanged, compared to its average volume of 3,799,161. The firm has a fifty day moving average of $65.41 and a 200 day moving average of $74.42. The firm has a market cap of $10.74 billion, a PE ratio of -82.69 and a beta of 2.06. Roku, Inc. has a 1 year low of $48.33 and a 1 year high of $104.96.

Roku (NASDAQ:ROKU - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported ($0.19) earnings per share for the quarter, topping analysts' consensus estimates of ($0.27) by $0.08. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter last year, the company earned ($0.35) earnings per share. The business's quarterly revenue was up 15.8% compared to the same quarter last year. Analysts expect that Roku, Inc. will post -0.3 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently commented on ROKU. Rosenblatt Securities decreased their target price on shares of Roku from $100.00 to $75.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. Redburn Atlantic upgraded Roku from a "neutral" rating to a "buy" rating and set a $100.00 price objective on the stock in a research note on Monday, April 7th. JPMorgan Chase & Co. increased their price objective on Roku from $75.00 to $85.00 and gave the stock an "overweight" rating in a report on Tuesday. Benchmark restated a "buy" rating and set a $130.00 target price on shares of Roku in a research report on Friday, May 2nd. Finally, Compass Point started coverage on shares of Roku in a research report on Sunday, March 23rd. They issued a "buy" rating for the company. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Roku has an average rating of "Moderate Buy" and a consensus target price of $88.37.

Insider Activity at Roku

In other news, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction that occurred on Thursday, May 29th. The stock was 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 directly owns 6,243 shares of the company's stock, valued at approximately $468,225. This represents a 80.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Dan Jedda sold 1,000 shares of the firm's stock in a transaction 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 transaction, the chief financial officer now directly owns 68,843 shares of the company's stock, valued at approximately $5,163,225. This trade represents a 1.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 31,013 shares of company stock worth $2,324,135 over the last ninety days. 13.98% of the stock is currently owned by corporate insiders.

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.