Roku, Inc. (NASDAQ:ROKU) Shares Sold by Picton Mahoney Asset Management

Key Points

• Picton Mahoney Asset Management significantly reduced its holdings in Roku, Inc. by 98.4%, selling 358,592 shares and leaving them with only 5,905 shares worth approximately $416,000.
• Roku reported a loss of ($0.19) earnings per share for the last quarter, which was better than analysts' expectations of ($0.27), with revenues reaching $1.02 billion.
• Insider transactions included CEO Anthony J. Wood selling 25,000 shares worth over $2.24 million, reducing his ownership by 67.65%.

Picton Mahoney Asset Management cut its stake in Roku, Inc. (NASDAQ:ROKU - Free Report) by 98.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,905 shares of the company's stock after selling 358,592 shares during the period. Picton Mahoney Asset Management's holdings in Roku were worth $416,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. American Century Companies Inc. increased its position in shares of Roku by 83.7% during the fourth quarter. American Century Companies Inc. now owns 49,593 shares of the company's stock valued at $3,687,000 after acquiring an additional 22,600 shares in the last quarter. Sei Investments Co. boosted its stake in shares of Roku by 152.2% during the 4th 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 stake in shares of Roku by 10.4% during the 4th 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. Norges Bank purchased a new position in shares of Roku during the 4th quarter worth $4,351,000. Finally, DnB Asset Management AS boosted its stake in shares of Roku by 2.3% during the 4th quarter. DnB Asset Management AS now owns 22,204 shares of the company's stock worth $1,651,000 after acquiring an additional 495 shares during the last quarter. 86.30% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ROKU shares. Wells Fargo & Company dropped their price target on shares of Roku from $129.00 to $93.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th. Guggenheim reaffirmed a "buy" rating and issued a $100.00 price target on shares of Roku in a report on Friday, May 2nd. Needham & Company LLC reaffirmed a "buy" rating and issued a $100.00 price target on shares of Roku in a report on Thursday, July 24th. Rosenblatt Securities cut their price target on shares of Roku from $100.00 to $75.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Finally, KeyCorp upgraded shares of Roku from a "sector weight" rating to an "overweight" rating and set a $115.00 price target on the stock in a report on Thursday, July 10th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $93.92.

Roku Trading Up 2.3%

Shares of NASDAQ ROKU traded up $2.16 during midday trading on Thursday, reaching $94.16. The company had a trading volume of 8,780,839 shares, compared to its average volume of 2,609,540. The business's 50-day simple moving average is $83.07 and its 200 day simple moving average is $76.81. The stock has a market cap of $13.74 billion, a P/E ratio of -128.98 and a beta of 2.12. 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 issued its earnings results on Thursday, July 31st. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.23. Roku had a negative net margin of 2.49% and a negative return on equity of 4.29%. During the same quarter in the previous year, the firm earned ($0.18) earnings per share. The company's quarterly revenue was up 14.7% on a year-over-year basis. Analysts predict that Roku, Inc. will post -0.3 earnings per share for the current year.

Insider Buying and Selling

In related news, 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 completion of the transaction, the chief executive officer owned 11,953 shares of the company's stock, valued at $1,071,466.92. This trade represents a 67.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Dan Jedda sold 3,000 shares of the firm's stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $90.20, for a total transaction of $270,600.00. Following the transaction, the chief financial officer directly owned 76,132 shares of the company's stock, valued at approximately $6,867,106.40. This trade represents a 3.79% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 308,873 shares of company stock valued at $28,076,913 over the last 90 days. Insiders own 13.98% of the company's stock.

Roku 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.