Nikko Asset Management Americas Inc. Has $516.64 Million Stock Position in Roku, Inc. (NASDAQ:ROKU)

Nikko Asset Management Americas Inc. decreased its stake in Roku, Inc. (NASDAQ:ROKU - Free Report) by 9.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,636,483 shares of the company's stock after selling 588,831 shares during the period. Roku accounts for approximately 5.0% of Nikko Asset Management Americas Inc.'s holdings, making the stock its 4th largest position. Nikko Asset Management Americas Inc. owned approximately 3.96% of Roku worth $516,640,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. GAMMA Investing LLC bought a new position in Roku during the fourth quarter worth about $27,000. Creative Financial Designs Inc. ADV acquired a new stake in Roku during the fourth quarter worth approximately $29,000. Federated Hermes Inc. acquired a new stake in Roku during the third quarter worth approximately $37,000. Headinvest LLC acquired a new stake in shares of Roku in the third quarter valued at approximately $42,000. Finally, Spire Wealth Management raised its position in shares of Roku by 35.3% in the third quarter. Spire Wealth Management now owns 621 shares of the company's stock valued at $44,000 after buying an additional 162 shares in the last quarter. Institutional investors own 86.30% of the company's stock.

Analyst Ratings Changes

ROKU has been the subject of a number of analyst reports. Needham & Company LLC reiterated a "buy" rating and issued a $100.00 price target on shares of Roku in a research report on Friday. Jefferies Financial Group started coverage on shares of Roku in a research report on Thursday, May 2nd. They issued an "underperform" rating and a $50.00 price target for the company. Oppenheimer downgraded shares of Roku from an "outperform" rating to a "market perform" rating in a research report on Friday, February 16th. Wells Fargo & Company boosted their price objective on shares of Roku from $45.00 to $52.00 and gave the company an "underweight" rating in a research report on Friday, April 26th. Finally, Piper Sandler restated a "neutral" rating and set a $65.00 price objective (down from $81.00) on shares of Roku in a research report on Friday, April 26th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $82.50.

Insider Buying and Selling

In other news, Director Jeffrey M. Blackburn acquired 8,000 shares of Roku stock in a transaction on Wednesday, March 13th. The stock was acquired at an average cost of $63.96 per share, with a total value of $511,680.00. Following the transaction, the director now owns 8,000 shares of the company's stock, valued at approximately $511,680. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Charles Collier sold 12,277 shares of the firm's stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $65.06, for a total value of $798,741.62. Following the completion of the transaction, the insider now directly owns 4,292 shares of the company's stock, valued at approximately $279,237.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jeffrey M. Blackburn acquired 8,000 shares of the business's stock in a transaction that occurred on Wednesday, March 13th. The stock was acquired at an average cost of $63.96 per share, with a total value of $511,680.00. Following the completion of the acquisition, the director now owns 8,000 shares in the company, valued at approximately $511,680. The disclosure for this purchase can be found here. Insiders have sold 29,751 shares of company stock worth $1,909,835 in the last quarter. Insiders own 13.63% of the company's stock.

Roku Trading Up 0.3 %

ROKU stock traded up $0.19 during midday trading on Friday, hitting $61.44. The stock had a trading volume of 1,954,820 shares, compared to its average volume of 5,541,467. The firm has a market cap of $8.86 billion, a P/E ratio of -15.40 and a beta of 1.69. Roku, Inc. has a 1-year low of $51.75 and a 1-year high of $108.84. The business has a fifty day moving average price of $61.49 and a two-hundred day moving average price of $78.14.

Roku (NASDAQ:ROKU - Get Free Report) last announced its quarterly earnings data on Thursday, April 25th. The company reported ($0.35) earnings per share for the quarter, beating the consensus estimate of ($0.64) by $0.29. Roku had a negative net margin of 15.64% and a negative return on equity of 23.81%. The firm had revenue of $881.50 million for the quarter, compared to analyst estimates of $843.54 million. During the same quarter in the prior year, the business earned ($1.38) earnings per share. The business's quarterly revenue was up 19.0% compared to the same quarter last year. On average, equities analysts anticipate that Roku, Inc. will post -1.94 EPS for the current 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.

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