Sumitomo Mitsui Trust Group Inc. Has $481.65 Million Stock Position in Roku, Inc. (NASDAQ:ROKU)

Sumitomo Mitsui Trust Group Inc. trimmed its stake in Roku, Inc. (NASDAQ:ROKU) by 6.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,451,262 shares of the company’s stock after selling 444,763 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Roku were worth $481,651,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ROKU. ARK Investment Management LLC lifted its stake in Roku by 1.3% in the second quarter. ARK Investment Management LLC now owns 12,716,432 shares of the company’s stock valued at $762,096,000 after acquiring an additional 159,785 shares during the last quarter. Vanguard Group Inc. increased its position in Roku by 0.8% during the first quarter. Vanguard Group Inc. now owns 11,946,605 shares of the company’s stock worth $778,560,000 after buying an additional 92,658 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Roku by 5.2% in the second quarter. Bank of New York Mellon Corp now owns 500,794 shares of the company’s stock valued at $30,013,000 after buying an additional 24,926 shares during the period. Canada Pension Plan Investment Board lifted its position in shares of Roku by 138.1% in the first quarter. Canada Pension Plan Investment Board now owns 342,400 shares of the company’s stock valued at $22,314,000 after buying an additional 198,600 shares during the last quarter. Finally, Andra AP fonden raised its stake in 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 acquiring an additional 158,200 shares during the period. Institutional investors and hedge funds own 86.30% of the company’s stock.

Insider Buying and Selling

In other Roku news, insider Gilbert Fuchsberg sold 1,693 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total value of $109,012.27. Following the sale, the insider now owns 38,602 shares in the company, valued at approximately $2,485,582.78. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Roku news, insider Gilbert Fuchsberg sold 1,693 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total value of $109,012.27. Following the transaction, the insider now directly owns 38,602 shares of the company’s stock, valued at approximately $2,485,582.78. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the transaction, the chief executive officer now owns 5,020 shares in the company, valued at $376,500. The trade was a 0.00 % decrease in their position. 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 in the last three months. Insiders own 13.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on ROKU shares. Wedbush upped their price target on shares of Roku from $75.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Moffett Nathanson upgraded Roku from a “sell” rating to a “neutral” rating and set a $80.00 target price on the stock in a research note on Tuesday, October 1st. Morgan Stanley boosted their price target on Roku from $60.00 to $65.00 and gave the company an “underweight” rating in a research note on Tuesday, October 29th. Guggenheim raised shares of Roku from a “neutral” rating to a “buy” rating and set a $75.00 target price for the company in a research report on Friday, August 23rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price target on shares of Roku in a research report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $83.95.

Roku Stock Up 4.5 %

Shares of ROKU opened at $77.12 on Tuesday. The business has a 50-day simple moving average of $73.47 and a two-hundred day simple moving average of $64.19. Roku, Inc. has a 12-month low of $48.33 and a 12-month high of $108.84. The stock has a market cap of $11.20 billion, a PE ratio of -64.27 and a beta of 2.07.

Roku (NASDAQ:ROKU) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate 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 was up 16.5% on a year-over-year basis. During the same period in the prior year, the company posted ($2.33) EPS. On average, equities research analysts expect that Roku, Inc. will post -1.1 EPS for the current year.

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.