Sumitomo Mitsui Trust Holdings Inc. Has $539.98 Million Holdings in Roku, Inc. (NASDAQ:ROKU)

Sumitomo Mitsui Trust Holdings Inc. trimmed its stake in Roku, Inc. (NASDAQ:ROKU - Free Report) by 9.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,891,142 shares of the company's stock after selling 587,772 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 4.13% of Roku worth $539,982,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in ROKU. FMR LLC grew its holdings in shares of Roku by 85.9% during the third quarter. FMR LLC now owns 9,441,349 shares of the company's stock worth $666,465,000 after purchasing an additional 4,363,754 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Roku by 772.1% during the first quarter. Renaissance Technologies LLC now owns 2,808,100 shares of the company's stock worth $351,771,000 after purchasing an additional 2,486,100 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Roku by 97.2% during the first quarter. Wellington Management Group LLP now owns 4,174,003 shares of the company's stock worth $522,878,000 after purchasing an additional 2,057,633 shares during the last quarter. Norges Bank bought a new position in Roku in the fourth quarter valued at about $32,612,000. Finally, Lord Abbett & CO. LLC bought a new position in Roku in the third quarter valued at about $55,182,000. Institutional investors own 86.30% of the company's stock.

Roku Stock Performance

Roku stock traded down $2.05 during midday trading on Friday, reaching $59.90. The stock had a trading volume of 3,032,492 shares, compared to its average volume of 3,461,276. The firm's fifty day simple moving average is $69.22 and its 200-day simple moving average is $79.38. Roku, Inc. has a 1-year low of $51.62 and a 1-year high of $108.84. The stock has a market capitalization of $8.60 billion, a P/E ratio of -11.93 and a beta of 1.66.

Roku (NASDAQ:ROKU - Get Free Report) last announced its earnings results on Thursday, February 15th. The company reported ($0.55) earnings per share (EPS) for the quarter, beating 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 business had revenue of $984.40 million for the quarter, compared to analyst estimates of $967.72 million. During the same quarter last year, the firm earned ($1.70) EPS. Roku's revenue for the quarter was up 13.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Roku, Inc. will post -2.16 earnings per share for the current fiscal year.

Insider Buying and Selling at Roku

In related news, Director Jeffrey M. Blackburn purchased 8,000 shares of the firm's stock in a transaction on Wednesday, March 13th. The stock was purchased at an average cost of $63.96 per share, for a total transaction of $511,680.00. Following the completion of the purchase, the director now directly owns 8,000 shares in the company, valued at $511,680. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Jeffrey M. Blackburn purchased 8,000 shares of the firm's stock in a transaction on Wednesday, March 13th. The stock was purchased at an average cost of $63.96 per share, for a total transaction of $511,680.00. Following the completion of the purchase, the director now directly owns 8,000 shares in the company, valued at $511,680. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Stephen H. Kay sold 4,310 shares of Roku stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $63.20, for a total value of $272,392.00. Following the transaction, the senior vice president now owns 81,459 shares of the company's stock, valued at $5,148,208.80. The disclosure for this sale can be found here. Insiders sold a total of 54,545 shares of company stock worth $4,364,035 over the last ninety days. 13.63% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Seaport Res Ptn cut Roku from a "neutral" rating to a "sell" rating in a report on Monday, December 18th. Needham & Company LLC reiterated a "buy" rating and issued a $100.00 price target on shares of Roku in a report on Wednesday, February 21st. Citigroup cut their target price on Roku from $110.00 to $75.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 21st. Morgan Stanley cut their target price on Roku from $65.00 to $60.00 and set an "underweight" rating on the stock in a research note on Friday, April 5th. Finally, Pivotal Research cut their target price on Roku from $85.00 to $75.00 and set a "hold" rating on the stock in a research note on Friday, February 16th. Five analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $86.67.

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.