Roku, Inc. (NASDAQ:ROKU) Shares Sold by KLP Kapitalforvaltning AS

Key Points

• KLP Kapitalforvaltning AS has reduced its holdings in Roku, Inc. by 10.7%, owning 66,600 shares valued at approximately $4.69 million after selling 8,000 shares in the first quarter.
• CEO Anthony J. Wood and CFO Dan Jedda have sold a combined total of 28.09 million dollars worth of stocks recently, reducing their respective shares held by 67.65% and 3.79%.
• Current analyst ratings on Roku show one sell, seven holds, with eighteen buy ratings, and an average target price of $93.92.

KLP Kapitalforvaltning AS reduced its holdings in Roku, Inc. (NASDAQ:ROKU - Free Report) by 10.7% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 66,600 shares of the company's stock after selling 8,000 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Roku were worth $4,691,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Garde Capital Inc. bought a new stake in shares of Roku in the 1st quarter worth approximately $25,000. Golden State Wealth Management LLC lifted its stake in Roku by 125.4% in the first quarter. Golden State Wealth Management LLC now owns 444 shares of the company's stock valued at $31,000 after buying an additional 247 shares during the last quarter. Princeton Global Asset Management LLC bought a new position in shares of Roku during the first quarter worth about $35,000. First PREMIER Bank acquired a new stake in shares of Roku in the 1st quarter worth about $35,000. Finally, Allianz SE acquired a new position in Roku during the 4th quarter valued at about $39,000. Institutional investors own 86.30% of the company's stock.

Insider Buying and Selling at Roku

In other Roku news, CEO Anthony J. Wood sold 25,000 shares of Roku 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 sale, 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 position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Dan Jedda sold 3,000 shares of the company'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 completion of the transaction, the chief financial officer directly owned 76,132 shares in the company, valued at $6,867,106.40. This trade represents a 3.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 309,079 shares of company stock worth $28,091,399. 13.98% of the stock is currently owned by company insiders.

Roku Trading Up 0.1%

Shares of ROKU stock opened at $90.12 on Friday. The company has a market capitalization of $13.15 billion, a price-to-earnings ratio of -123.45 and a beta of 2.12. Roku, Inc. has a 1-year low of $48.33 and a 1-year high of $104.96. The stock's fifty day simple moving average is $81.78 and its 200-day simple moving average is $76.60.

Roku (NASDAQ:ROKU - Get Free Report) last issued its 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 company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. Roku had a negative return on equity of 4.29% and a negative net margin of 2.49%. The firm's quarterly revenue was up 15.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.35) EPS. On average, sell-side analysts predict that Roku, Inc. will post -0.3 EPS for the current year.

Analyst Ratings Changes

ROKU has been the topic of a number of recent analyst reports. Wall Street Zen raised Roku from a "hold" rating to a "buy" rating in a report on Saturday. Pivotal Research decreased their price target on Roku from $125.00 to $100.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Citigroup reissued a "neutral" rating and set a $84.00 target price (up previously from $68.00) on shares of Roku in a research note on Wednesday, June 18th. FBN Securities initiated coverage on shares of Roku in a research note on Friday, March 28th. They issued an "outperform" rating and a $93.00 price target for the company. Finally, Wells Fargo & Company decreased their price objective on shares of Roku from $129.00 to $93.00 and set an "overweight" rating for the company in a report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $93.92.

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.

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