ARK Investment Management LLC Has $837.84 Million Position in Roku, Inc. (NASDAQ:ROKU)

ARK Investment Management LLC trimmed its position in shares of Roku, Inc. (NASDAQ:ROKU) by 11.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,222,047 shares of the company’s stock after selling 1,494,385 shares during the period. Roku comprises 7.7% of ARK Investment Management LLC’s portfolio, making the stock its 2nd largest position. ARK Investment Management LLC owned 7.78% of Roku worth $837,838,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. EverSource Wealth Advisors LLC increased its position in shares of Roku by 123.4% during the second quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company’s stock valued at $40,000 after buying an additional 375 shares during the period. Future Financial Wealth Managment LLC purchased a new stake in Roku in the third quarter worth about $43,000. Geneos Wealth Management Inc. grew its holdings in Roku by 835.6% in the first quarter. Geneos Wealth Management Inc. now owns 683 shares of the company’s stock worth $45,000 after purchasing an additional 610 shares during the period. Cedar Wealth Management LLC purchased a new stake in Roku in the second quarter worth about $48,000. Finally, Natixis purchased a new stake in Roku in the first quarter worth about $53,000. 86.30% of the stock is owned by institutional investors.

Insider Transactions at Roku

In related news, CFO Dan Jedda sold 1,000 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $75.33, for a total transaction of $75,330.00. Following the completion of the transaction, the chief financial officer now directly owns 54,267 shares of the company’s stock, valued at approximately $4,087,933.11. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO Dan Jedda sold 1,000 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $75.33, for a total transaction of $75,330.00. Following the completion of the transaction, the chief financial officer now directly owns 54,267 shares of the company’s stock, valued at approximately $4,087,933.11. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Gilbert Fuchsberg sold 1,693 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $64.39, for a total transaction of $109,012.27. Following the transaction, the insider now directly owns 38,602 shares of the company’s stock, valued at $2,485,582.78. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 69,776 shares of company stock valued at $5,267,305 over the last three months. Corporate insiders own 13.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ROKU. Wells Fargo & Company upped their price objective on shares of Roku from $72.00 to $74.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Wedbush increased their price target on shares of Roku from $75.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Macquarie reiterated an “outperform” rating and set a $90.00 price target on shares of Roku in a report on Thursday, October 31st. Moffett Nathanson upgraded shares of Roku from a “sell” rating to a “neutral” rating and set a $80.00 price target on the stock in a report on Tuesday, October 1st. Finally, Wolfe Research upgraded shares of Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 price target on the stock in a report on Thursday, September 12th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Roku has an average rating of “Hold” and an average price target of $83.95.

Roku Price Performance

Shares of NASDAQ ROKU opened at $72.03 on Friday. The firm has a fifty day moving average price of $73.35 and a 200-day moving average price of $64.05. The stock has a market cap of $10.42 billion, a PE ratio of -60.02 and a beta of 2.07. Roku, Inc. has a 1 year low of $48.33 and a 1 year high of $108.84.

Roku (NASDAQ:ROKU) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.29. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Roku had a negative net margin of 4.42% and a negative return on equity of 7.22%. The company’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($2.33) earnings per share. On average, research analysts expect that Roku, Inc. will post -1.1 EPS for the current year.

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.