Hsbc Holdings PLC Reduces Holdings in Roku, Inc. (NASDAQ:ROKU)

Hsbc Holdings PLC reduced its position in shares of Roku, Inc. (NASDAQ:ROKU - Free Report) by 28.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,156 shares of the company's stock after selling 16,330 shares during the period. Hsbc Holdings PLC's holdings in Roku were worth $2,985,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ROKU. FMR LLC lifted its stake in shares of Roku by 31.7% in the 4th quarter. FMR LLC now owns 19,183,942 shares of the company's stock valued at $1,426,134,000 after acquiring an additional 4,613,570 shares during the last quarter. Vanguard Group Inc. raised its position in Roku by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 12,249,091 shares of the company's stock worth $910,597,000 after purchasing an additional 185,676 shares during the last quarter. Marshall Wace LLP raised its position 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 purchasing an additional 2,030,036 shares during the last quarter. Geode Capital Management LLC raised its position in Roku by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 2,147,259 shares of the company's stock worth $159,353,000 after purchasing an additional 56,820 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in Roku by 38.0% during the 4th quarter. Renaissance Technologies LLC now owns 1,296,900 shares of the company's stock worth $96,412,000 after purchasing an additional 357,100 shares during the last quarter. 86.30% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Charles Collier sold 7,181 shares of the company's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $78.25, for a total transaction of $561,913.25. Following the transaction, the insider now owns 7,380 shares of the company's stock, valued at $577,485. This represents a 49.32 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Matthew C. Banks sold 1,906 shares of the company's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $80.36, for a total value of $153,166.16. Following the transaction, the chief accounting officer now directly owns 7,256 shares in the company, valued at $583,092.16. This represents a 20.80 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 71,905 shares of company stock valued at $6,560,876. Insiders own 13.98% of the company's stock.

Roku Stock Down 1.3 %

ROKU stock traded down $0.91 during midday trading on Thursday, hitting $67.27. The company's stock had a trading volume of 10,192,404 shares, compared to its average volume of 3,710,414. The stock's 50-day moving average price is $69.62 and its 200 day moving average price is $75.36. Roku, Inc. has a 1 year low of $48.33 and a 1 year high of $104.96. The stock has a market cap of $9.82 billion, a price-to-earnings ratio of -75.58 and a beta of 2.17.

Roku (NASDAQ:ROKU - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.08. Roku had a negative return on equity of 5.34% and a negative net margin of 3.15%. As a group, equities analysts forecast that Roku, Inc. will post -0.3 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have weighed in on ROKU. Rosenblatt Securities reiterated a "neutral" rating and set a $86.00 price target on shares of Roku in a report on Thursday, February 13th. Citigroup reiterated an "outperform" rating on shares of Roku in a report on Thursday, April 24th. Needham & Company LLC reiterated a "buy" rating and set a $88.50 price target on shares of Roku in a report on Thursday, April 24th. Jefferies Financial Group upgraded Roku from an "underperform" rating to a "hold" rating and increased their price target for the stock from $55.00 to $100.00 in a report on Thursday, February 20th. Finally, Bank of America began coverage on Roku in a report on Thursday, March 27th. They set a "buy" rating and a $100.00 price target for the company. One research analyst has rated the stock with a sell rating, six have issued a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $90.39.

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.