Roku, Inc. (NASDAQ:ROKU) Shares Sold by ARK Investment Management LLC

ARK Investment Management LLC lessened its holdings in Roku, Inc. (NASDAQ:ROKU) by 4.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,671,956 shares of the company’s stock after selling 550,091 shares during the period. Roku makes up 6.6% of ARK Investment Management LLC’s portfolio, making the stock its 2nd biggest position. ARK Investment Management LLC owned about 7.35% of Roku worth $793,353,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in ROKU. Holocene Advisors LP acquired a new position in Roku in the third quarter worth about $129,015,000. Westfield Capital Management Co. LP grew its stake in Roku by 126.1% during the third 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 last quarter. Point72 Asset Management L.P. grew its stake in Roku by 352.5% during the third quarter. Point72 Asset Management L.P. now owns 651,658 shares of the company’s stock worth $48,653,000 after buying an additional 507,643 shares during the last quarter. JAT Capital Mgmt LP grew its stake in Roku by 470.2% during the third quarter. JAT Capital Mgmt LP now owns 540,577 shares of the company’s stock worth $40,359,000 after buying an additional 445,777 shares during the last quarter. Finally, FMR LLC grew its stake in Roku by 1.7% during the third quarter. FMR LLC now owns 14,570,372 shares of the company’s stock worth $1,087,824,000 after buying an additional 244,793 shares during the last quarter. Institutional investors and hedge funds own 86.30% of the company’s stock.

Insiders Place Their Bets

In other Roku news, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $100.40, for a total value of $2,510,000.00. Following the sale, the chief executive officer now directly owns 26,538 shares in the company, valued at approximately $2,664,415.20. This trade represents a 48.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Dan Jedda sold 1,000 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $77.18, for a total transaction of $77,180.00. Following the completion of the sale, the chief financial officer now owns 63,555 shares in the company, valued at approximately $4,905,174.90. This trade represents a 1.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 109,421 shares of company stock worth $9,660,786. Company insiders own 13.98% of the company’s stock.

Roku Stock Performance

Shares of ROKU stock opened at $85.76 on Wednesday. Roku, Inc. has a 52-week low of $48.33 and a 52-week high of $104.96. The stock has a market cap of $12.52 billion, a PE ratio of -96.36 and a beta of 2.05. The firm’s 50 day moving average price is $81.88 and its two-hundred day moving average price is $75.77.

Roku (NASDAQ:ROKU) last announced its quarterly earnings data on Thursday, February 13th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.20. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. As a group, sell-side analysts predict that Roku, Inc. will post -0.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have weighed in on ROKU shares. Wedbush reaffirmed an “outperform” rating and set a $100.00 price objective on shares of Roku in a research note on Monday, February 10th. Pivotal Research raised shares of Roku from a “hold” rating to a “buy” rating and upped their price objective for the stock from $65.00 to $125.00 in a research note on Friday, February 14th. UBS Group upped their price objective on shares of Roku from $73.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Citizens Jmp raised shares of Roku to a “strong-buy” rating in a research note on Tuesday, January 21st. Finally, Loop Capital upped their price objective on shares of Roku from $70.00 to $80.00 and gave the stock a “hold” rating in a research note on Monday, December 9th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Roku has an average rating of “Moderate Buy” and an average target price of $96.00.

Roku Company 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.