Roku, Inc. (NASDAQ:ROKU) Stock Position Trimmed by Benjamin Edwards Inc.

Key Points

• Benjamin Edwards Inc. reduced its holdings in Roku, Inc. by 18.9%, now owning 46,884 shares valued at approximately $3.3 million, reflecting ongoing adjustments by large investors in the company's stock.
• Roku's stock recently dropped 1.5%, trading at $81.99, with analysts projecting a consensus price target of $98.96 and a current consensus rating of "Moderate Buy."
• Insiders have significantly sold shares; CAO Matthew C. Banks and CEO Anthony J. Wood sold large amounts recently, leading to notable reductions in their ownership percentages.

Benjamin Edwards Inc. reduced its position in shares of Roku, Inc. (NASDAQ:ROKU - Free Report) by 18.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 46,884 shares of the company's stock after selling 10,927 shares during the period. Benjamin Edwards Inc.'s holdings in Roku were worth $3,303,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Marshall Wace LLP increased its stake in shares of Roku by 663.9% during the 4th quarter. Marshall Wace LLP now owns 2,335,813 shares of the company's stock valued at $173,644,000 after acquiring an additional 2,030,036 shares during the last quarter. Cadian Capital Management LP purchased a new stake in Roku in the fourth quarter valued at approximately $87,632,000. Jacobs Levy Equity Management Inc. increased its position in Roku by 505.3% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,296,774 shares of the company's stock worth $96,402,000 after purchasing an additional 1,082,548 shares during the last quarter. Two Sigma Investments LP raised its stake in Roku by 149.8% during the fourth quarter. Two Sigma Investments LP now owns 1,210,879 shares of the company's stock worth $90,017,000 after purchasing an additional 726,077 shares during the period. Finally, Gilder Gagnon Howe & Co. LLC boosted its holdings in shares of Roku by 214.1% in the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 864,974 shares of the company's stock valued at $64,302,000 after purchasing an additional 589,610 shares during the last quarter. 86.30% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Roku

In other news, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $82.42, for a total value of $2,060,500.00. Following the completion of the transaction, the chief executive officer directly owned 16,441 shares of the company's stock, valued at approximately $1,355,067.22. The trade was a 60.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Charles Collier sold 212,559 shares of the firm's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $95.00, for a total transaction of $20,193,105.00. Following the completion of the transaction, the insider directly owned 200 shares in the company, valued at $19,000. This represents a 99.91% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 337,233 shares of company stock valued at $30,423,181 over the last three months. 13.98% of the stock is currently owned by company insiders.

Roku Stock Performance

Shares of Roku stock traded up $3.77 during trading on Wednesday, reaching $88.09. The company had a trading volume of 4,410,788 shares, compared to its average volume of 4,027,305. The company has a market cap of $12.98 billion, a price-to-earnings ratio of -209.74, a price-to-earnings-growth ratio of 11.48 and a beta of 2.05. Roku, Inc. has a fifty-two week low of $52.43 and a fifty-two week high of $104.96. The firm's fifty day moving average is $85.41 and its 200-day moving average is $77.22.

Roku (NASDAQ:ROKU - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $0.07 EPS for the quarter, topping the consensus estimate of ($0.16) by $0.23. Roku had a negative return on equity of 2.44% and a negative net margin of 1.40%. The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the firm earned ($0.18) EPS. The business's revenue was up 14.7% on a year-over-year basis. On average, research analysts anticipate that Roku, Inc. will post -0.3 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Rosenblatt Securities increased their target price on Roku from $75.00 to $101.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. Evercore ISI cut their price objective on Roku from $105.00 to $80.00 and set an "in-line" rating on the stock in a report on Friday, May 2nd. UBS Group boosted their target price on Roku from $72.00 to $95.00 and gave the stock a "neutral" rating in a report on Friday, August 1st. Needham & Company LLC raised their price target on shares of Roku from $100.00 to $110.00 and gave the company a "buy" rating in a report on Friday, August 1st. Finally, Citigroup reiterated a "neutral" rating and set a $84.00 price objective (up from $68.00) on shares of Roku in a research note on Wednesday, June 18th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $98.96.

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.