Daiwa Securities Group Inc. Lowers Stake in Roku, Inc. (NASDAQ:ROKU)

Daiwa Securities Group Inc. lessened its stake in Roku, Inc. (NASDAQ:ROKU) by 49.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,549 shares of the company’s stock after selling 18,139 shares during the period. Daiwa Securities Group Inc.’s holdings in Roku were worth $1,384,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ROKU. Westfield Capital Management Co. LP lifted its holdings in shares of Roku by 126.1% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,535,576 shares of the company’s stock worth $114,646,000 after buying an additional 856,401 shares during the period. AQR Capital Management LLC grew its holdings in Roku by 645.3% during the 2nd quarter. AQR Capital Management LLC now owns 221,557 shares of the company’s stock worth $13,278,000 after acquiring an additional 191,831 shares in the last quarter. ARK Investment Management LLC increased its position in Roku by 1.3% during the 2nd quarter. ARK Investment Management LLC now owns 12,716,432 shares of the company’s stock valued at $762,096,000 after purchasing an additional 159,785 shares during the period. Andra AP fonden raised its holdings in shares of Roku by 116.6% in the 2nd quarter. Andra AP fonden now owns 293,900 shares of the company’s stock valued at $17,613,000 after purchasing an additional 158,200 shares in the last quarter. Finally, Jupiter Asset Management Ltd. lifted its position in shares of Roku by 279.5% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 175,645 shares of the company’s stock worth $10,526,000 after purchasing an additional 129,360 shares during the period. Institutional investors own 86.30% of the company’s stock.

Roku Stock Performance

Shares of ROKU stock opened at $69.03 on Friday. Roku, Inc. has a fifty-two week low of $48.33 and a fifty-two week high of $108.84. The firm has a market capitalization of $10.02 billion, a PE ratio of -57.52 and a beta of 2.07. The stock’s 50-day simple moving average is $73.63 and its 200-day simple moving average is $65.34.

Roku (NASDAQ:ROKU) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.29. Roku had a negative net margin of 4.42% and a negative return on equity of 7.22%. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the prior year, the company earned ($2.33) EPS. Roku’s quarterly revenue was up 16.5% on a year-over-year basis. Sell-side analysts forecast that Roku, Inc. will post -1.1 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Gilbert Fuchsberg sold 1,693 shares of Roku stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total transaction of $109,012.27. Following the completion of the transaction, the insider now directly owns 38,602 shares in the company, valued at approximately $2,485,582.78. This trade represents a 4.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $75.00, for a total value of $1,875,000.00. Following the completion of the sale, the chief executive officer now owns 5,020 shares in the company, valued at approximately $376,500. This represents a 83.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 90,240 shares of company stock valued at $6,729,582 over the last 90 days. Insiders own 13.98% of the company’s stock.

Analysts Set New Price Targets

ROKU has been the subject of a number of recent research reports. Benchmark reissued a “buy” rating and issued a $105.00 price objective on shares of Roku in a research note on Thursday, September 12th. Baird R W raised Roku from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 18th. Morgan Stanley raised their price objective on Roku from $60.00 to $65.00 and gave the company an “underweight” rating in a research report on Tuesday, October 29th. Robert W. Baird raised shares of Roku from a “neutral” rating to an “outperform” rating and increased their price target for the company from $70.00 to $90.00 in a research report on Monday, November 18th. Finally, Citigroup lifted their price objective on shares of Roku from $60.00 to $77.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.62.

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.