Roku, Inc. (NASDAQ:ROKU) Holdings Lowered by ARK Investment Management LLC

ARK Investment Management LLC decreased its holdings in shares of Roku, Inc. (NASDAQ:ROKU - Free Report) by 8.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,528,872 shares of the company's stock after selling 910,941 shares during the quarter. Roku accounts for approximately 5.2% of ARK Investment Management LLC's investment portfolio, making the stock its 5th largest position. ARK Investment Management LLC owned 6.69% of Roku worth $873,416,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Gotham Asset Management LLC raised its position in Roku by 200.3% in the third quarter. Gotham Asset Management LLC now owns 41,128 shares of the company's stock valued at $2,903,000 after purchasing an additional 27,431 shares during the last quarter. Nordea Investment Management AB boosted its position in Roku by 8.2% during the 4th quarter. Nordea Investment Management AB now owns 7,247 shares of the company's stock worth $669,000 after buying an additional 551 shares during the period. Barclays PLC grew its holdings in Roku by 13.0% during the 3rd quarter. Barclays PLC now owns 215,766 shares of the company's stock worth $15,231,000 after acquiring an additional 24,765 shares during the last quarter. Deutsche Bank AG raised its stake in shares of Roku by 27.6% during the third quarter. Deutsche Bank AG now owns 154,729 shares of the company's stock valued at $10,922,000 after acquiring an additional 33,500 shares during the last quarter. Finally, New York Life Investment Management LLC raised its stake in shares of Roku by 109.7% during the third quarter. New York Life Investment Management LLC now owns 14,299 shares of the company's stock valued at $1,009,000 after acquiring an additional 7,480 shares during the last quarter. 86.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Jeffrey M. Blackburn bought 8,000 shares of Roku stock in a transaction on Wednesday, March 13th. The shares were purchased at an average price of $63.96 per share, for a total transaction of $511,680.00. Following the acquisition, the director now owns 8,000 shares of the company's stock, valued at $511,680. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Charles Collier sold 4,182 shares of the company's stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $65.00, for a total value of $271,830.00. Following the transaction, the insider now owns 8,474 shares in the company, valued at approximately $550,810. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jeffrey M. Blackburn purchased 8,000 shares of the business's stock in a transaction dated Wednesday, March 13th. The shares were purchased at an average price of $63.96 per share, for a total transaction of $511,680.00. Following the acquisition, the director now owns 8,000 shares of the company's stock, valued at $511,680. The disclosure for this purchase can be found here. Insiders sold a total of 79,543 shares of company stock valued at $6,631,587 over the last three months. Corporate insiders own 13.63% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ROKU shares. Oppenheimer downgraded Roku from an "outperform" rating to a "market perform" rating in a report on Friday, February 16th. Wells Fargo & Company downgraded Roku from an "equal weight" rating to an "underweight" rating and lowered their price objective for the stock from $77.00 to $51.00 in a research report on Tuesday, February 27th. Wedbush reaffirmed an "outperform" rating and issued a $120.00 price objective on shares of Roku in a research note on Friday, February 16th. Seaport Res Ptn downgraded shares of Roku from a "neutral" rating to a "sell" rating in a research report on Monday, December 18th. Finally, Stephens reissued an "overweight" rating and issued a $105.00 price objective on shares of Roku in a research note on Friday, February 16th. Five analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $86.00.

Roku Stock Performance

Shares of NASDAQ ROKU traded down $0.41 during trading hours on Thursday, hitting $65.17. The company's stock had a trading volume of 3,429,447 shares, compared to its average volume of 6,230,588. The business has a 50-day simple moving average of $75.29 and a 200-day simple moving average of $80.23. The stock has a market cap of $9.35 billion, a price-to-earnings ratio of -12.98 and a beta of 1.66. Roku, Inc. has a 12 month low of $51.62 and a 12 month high of $108.84.

Roku (NASDAQ:ROKU - Get Free Report) last announced its quarterly earnings results on Thursday, February 15th. The company reported ($0.55) EPS for the quarter, topping analysts' consensus estimates of ($0.65) by $0.10. Roku had a negative return on equity of 29.21% and a negative net margin of 20.36%. The company had revenue of $984.40 million during the quarter, compared to analyst estimates of $967.72 million. During the same quarter last year, the firm posted ($1.70) earnings per share. The firm's revenue was up 13.5% on a year-over-year basis. On average, equities research analysts forecast that Roku, Inc. will post -2.16 EPS for the current year.

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.