Roku, Inc. (NASDAQ:ROKU) Shares Sold by Y Intercept Hong Kong Ltd

Key Points

• Y Intercept Hong Kong Ltd reduced its holdings in Roku, Inc. by 38.9% during the first quarter, now owning 9,395 shares valued at approximately $662,000.
• Several hedge funds, including United Advisor Group LLC and Cerity Partners LLC, increased their stakes in Roku, indicating continued institutional interest in the company.
• Roku recently reported a quarterly revenue of $1.02 billion, beating analysts' expectations, with an earnings per share of ($0.19), which also surpassed consensus estimates.

Y Intercept Hong Kong Ltd reduced its stake in Roku, Inc. (NASDAQ:ROKU - Free Report) by 38.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,395 shares of the company's stock after selling 5,984 shares during the period. Y Intercept Hong Kong Ltd's holdings in Roku were worth $662,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ROKU. FMR LLC lifted its position in shares of Roku by 31.7% during the 4th quarter. FMR LLC now owns 19,183,942 shares of the company's stock worth $1,426,134,000 after purchasing an additional 4,613,570 shares during the last quarter. Marshall Wace LLP lifted its holdings in Roku by 663.9% during the 4th quarter. Marshall Wace LLP now owns 2,335,813 shares of the company's stock worth $173,644,000 after buying an additional 2,030,036 shares during the last quarter. Cadian Capital Management LP acquired a new position in shares of Roku during the 4th quarter worth about $87,632,000. Jacobs Levy Equity Management Inc. increased its holdings in shares of Roku by 505.3% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,296,774 shares of the company's stock valued at $96,402,000 after acquiring an additional 1,082,548 shares during the last quarter. Finally, Two Sigma Investments LP raised its position in shares of Roku by 149.8% during the 4th quarter. Two Sigma Investments LP now owns 1,210,879 shares of the company's stock worth $90,017,000 after acquiring an additional 726,077 shares in the last quarter. 86.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Roku

In related news, Director Mai Fyfield sold 914 shares of the company's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $78.50, for a total value of $71,749.00. Following the sale, the director owned 4,374 shares in the company, valued at $343,359. This represents a 17.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $89.64, for a total value of $2,241,000.00. Following the transaction, the chief executive officer directly owned 11,953 shares of the company's stock, valued at approximately $1,071,466.92. This represents a 67.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 309,079 shares of company stock valued at $28,091,399 in the last 90 days. Insiders own 13.98% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Evercore ISI cut their price objective on shares of Roku from $105.00 to $80.00 and set an "in-line" rating on the stock in a report on Friday, May 2nd. Piper Sandler lifted their price target on shares of Roku from $65.00 to $84.00 and gave the stock a "neutral" rating in a research note on Thursday, July 10th. UBS Group reduced their price target on shares of Roku from $90.00 to $72.00 and set a "neutral" rating for the company in a research report on Tuesday, April 15th. Citigroup reaffirmed a "neutral" rating and set a $84.00 price objective (up previously from $68.00) on shares of Roku in a report on Wednesday, June 18th. Finally, JMP Securities boosted their target price on Roku from $95.00 to $110.00 and gave the company a "market outperform" rating in a report on Monday, July 21st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $93.92.

Roku Stock Up 3.9%

Shares of Roku stock traded up $3.53 during trading on Monday, reaching $93.65. The company's stock had a trading volume of 4,243,538 shares, compared to its average volume of 3,887,487. The business has a 50 day moving average price of $81.78 and a 200-day moving average price of $76.51. Roku, Inc. has a 12-month low of $48.33 and a 12-month high of $104.96. The company has a market capitalization of $13.67 billion, a P/E ratio of -128.29 and a beta of 2.12.

Roku (NASDAQ:ROKU - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.08. Roku had a negative net margin of 2.49% and a negative return on equity of 4.29%. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the firm earned ($0.35) EPS. The business's revenue was up 15.8% on a year-over-year basis. Research analysts predict that Roku, Inc. will post -0.3 EPS for the current fiscal 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.