Avanza Fonder AB Trims Stock Holdings in Roku, Inc. (NASDAQ:ROKU)

Avanza Fonder AB cut its holdings in Roku, Inc. (NASDAQ:ROKU - Free Report) by 11.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 41,653 shares of the company's stock after selling 5,418 shares during the quarter. Avanza Fonder AB's holdings in Roku were worth $2,975,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vision Financial Markets LLC bought a new position in shares of Roku during the fourth quarter worth $30,000. Princeton Global Asset Management LLC acquired a new stake in Roku in the 1st quarter valued at $35,000. Game Plan Financial Advisors LLC acquired a new stake in Roku in the 4th quarter valued at $37,000. Harvest Fund Management Co. Ltd increased its stake in Roku by 4,091.7% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 503 shares of the company's stock valued at $37,000 after buying an additional 491 shares during the last quarter. Finally, Allianz SE bought a new position in shares of Roku in the 4th quarter valued at about $39,000. 86.30% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Mai Fyfield sold 914 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $78.50, for a total transaction of $71,749.00. Following the completion of the sale, the director now owns 4,374 shares in the company, valued at $343,359. This trade represents a 17.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the completion of the transaction, the chief executive officer now owns 6,243 shares of the company's stock, valued at $468,225. This represents a 80.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 64,737 shares of company stock worth $4,987,114. Insiders own 13.98% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. JMP Securities reissued a "market outperform" rating and issued a $95.00 price objective on shares of Roku in a research report on Monday, June 2nd. Rosenblatt Securities dropped 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. FBN Securities initiated coverage on shares of Roku in a research report on Friday, March 28th. They set an "outperform" rating and a $93.00 price objective for the company. Needham & Company LLC restated a "buy" rating and issued a $88.50 price target on shares of Roku in a research report on Monday, May 12th. Finally, Bank of America initiated coverage on shares of Roku in a research report on Thursday, March 27th. They issued a "buy" rating and a $100.00 price target for the company. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $88.37.

Roku Stock Down 4.6%

ROKU traded down $3.73 during trading on Thursday, hitting $76.75. 3,670,626 shares of the company's stock were exchanged, compared to its average volume of 3,833,736. The business's 50 day moving average is $67.07 and its two-hundred day moving average is $74.73. Roku, Inc. has a fifty-two week low of $48.33 and a fifty-two week high of $104.96. The stock has a market cap of $11.20 billion, a P/E ratio of -86.24 and a beta of 2.09.

Roku (NASDAQ:ROKU - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.08. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. The firm's revenue for the quarter was up 15.8% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.35) earnings per share. On average, sell-side analysts forecast that Roku, Inc. will post -0.3 earnings per share for the current year.

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.