Roku, Inc. (NASDAQ:ROKU) Shares Sold by Baillie Gifford & Co.

Key Points

• Baillie Gifford & Co. reduced its stake in Roku, Inc. by 5.6%, leaving them with approximately 2.49 million shares valued at $175.3 million.
• Insider transactions revealed that both the CFO and CEO of Roku sold significant amounts of stock, with the CFO reducing their position by 3.79% and the CEO by 67.65%.
• Wall Street analysts have mixed opinions on Roku, with JPMorgan raising their price target to $100 and Rosenblatt lowering it to $75; the consensus rating remains a "Moderate Buy" with a target price of $93.92.

Baillie Gifford & Co. cut its holdings in Roku, Inc. (NASDAQ:ROKU - Free Report) by 5.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,489,007 shares of the company's stock after selling 147,607 shares during the quarter. Baillie Gifford & Co. owned approximately 1.71% of Roku worth $175,326,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of ROKU. Raymond James Financial Inc. acquired a new stake in shares of Roku in the fourth quarter valued at approximately $2,950,000. American Century Companies Inc. boosted its position in Roku by 83.7% during the fourth quarter. American Century Companies Inc. now owns 49,593 shares of the company's stock worth $3,687,000 after acquiring an additional 22,600 shares during the last quarter. Sei Investments Co. boosted its position in Roku by 152.2% during the fourth quarter. Sei Investments Co. now owns 23,645 shares of the company's stock worth $1,758,000 after acquiring an additional 14,268 shares during the last quarter. LPL Financial LLC boosted its position in Roku by 10.4% during the fourth quarter. LPL Financial LLC now owns 130,437 shares of the company's stock worth $9,697,000 after acquiring an additional 12,298 shares during the last quarter. Finally, Vanguard Group Inc. boosted 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 acquiring an additional 185,676 shares during the last quarter. 86.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ROKU has been the topic of a number of analyst reports. Bank of America raised their target price on shares of Roku from $100.00 to $110.00 and gave the stock a "buy" rating in a research report on Thursday, July 3rd. KeyCorp upgraded shares of Roku from a "sector weight" rating to an "overweight" rating and set a $115.00 target price on the stock in a research report on Thursday, July 10th. Wall Street Zen upgraded shares of Roku from a "hold" rating to a "buy" rating in a research report on Saturday. Rosenblatt Securities decreased their target price on shares of Roku from $100.00 to $75.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. Finally, Needham & Company LLC restated a "buy" rating and set a $100.00 target price on shares of Roku in a research report on Thursday. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Roku currently has a consensus rating of "Moderate Buy" and a consensus target price of $93.92.

Roku Stock Up 0.1%

Shares of ROKU stock traded up $0.07 during mid-day trading on Friday, reaching $90.12. The company's stock had a trading volume of 1,970,827 shares, compared to its average volume of 2,576,802. The company's 50 day simple moving average is $81.78 and its 200-day simple moving average is $76.60. The firm has a market capitalization of $13.15 billion, a PE ratio of -123.45 and a beta of 2.12. Roku, Inc. has a 12-month low of $48.33 and a 12-month 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, beating analysts' consensus estimates of ($0.27) by $0.08. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. Roku had a negative net margin of 2.49% and a negative return on equity of 4.29%. The business's revenue was up 15.8% on a year-over-year basis. During the same period last year, the business earned ($0.35) EPS. As a group, research analysts anticipate that Roku, Inc. will post -0.3 EPS for the current fiscal year.

Insider Activity

In related news, Director Mai Fyfield sold 914 shares of the firm's stock in a transaction 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 directly owned 4,374 shares of the company's stock, valued at approximately $343,359. This trade represents a 17.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Anthony J. Wood sold 25,000 shares of the firm's stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $89.64, for a total transaction of $2,241,000.00. Following the sale, the chief executive officer directly owned 11,953 shares of the company's stock, valued at approximately $1,071,466.92. The trade was a 67.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 309,079 shares of company stock valued at $28,091,399 in the last 90 days. Company insiders own 13.98% of the company's stock.

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.