Roku, Inc. (NASDAQ:ROKU) Position Lessened by Fortis Group Advisors LLC

Fortis Group Advisors LLC decreased its position in shares of Roku, Inc. (NASDAQ:ROKU) by 35.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,625 shares of the company’s stock after selling 4,699 shares during the period. Fortis Group Advisors LLC’s holdings in Roku were worth $644,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of ROKU. EverSource Wealth Advisors LLC boosted its holdings in Roku by 123.4% in the second quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company’s stock worth $40,000 after purchasing an additional 375 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new position in shares of Roku during the 3rd quarter valued at about $43,000. Geneos Wealth Management Inc. raised its stake in shares of Roku by 835.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 683 shares of the company’s stock valued at $45,000 after acquiring an additional 610 shares in the last quarter. Cedar Wealth Management LLC acquired a new stake in Roku in the 2nd quarter worth approximately $48,000. Finally, Natixis bought a new stake in Roku during the first quarter worth approximately $53,000. 86.30% of the stock is owned by institutional investors and hedge funds.

Roku Price Performance

Shares of NASDAQ:ROKU traded down $0.64 during trading on Tuesday, reaching $76.36. The stock had a trading volume of 279,085 shares, compared to its average volume of 4,365,382. The stock has a market capitalization of $11.05 billion, a PE ratio of -22.19 and a beta of 2.08. Roku, Inc. has a 52 week low of $48.33 and a 52 week high of $108.84. The business’s 50-day moving average price is $71.00 and its 200 day moving average price is $62.96.

Roku (NASDAQ:ROKU) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.21. Roku had a negative return on equity of 21.03% and a negative net margin of 13.16%. The company had revenue of $968.18 million for the quarter, compared to analyst estimates of $937.78 million. During the same quarter in the previous year, the firm earned ($0.76) earnings per share. The business’s revenue was up 14.3% on a year-over-year basis. Analysts forecast that Roku, Inc. will post -1.44 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Bank of America boosted their price objective on shares of Roku from $75.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Macquarie upped their price target on shares of Roku from $72.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. Benchmark reiterated a “buy” rating and issued a $105.00 price objective on shares of Roku in a research note on Thursday, September 12th. JPMorgan Chase & Co. increased their target price on Roku from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price target on shares of Roku in a research report on Tuesday. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $81.24.

Insider Buying and Selling at Roku

In other news, CEO Anthony J. Wood sold 25,000 shares of the company’s stock in a transaction that occurred 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 directly owns 5,020 shares in the company, valued at approximately $376,500. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $75.00, for a total transaction 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 $376,500. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Dan Jedda sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $75.33, for a total value of $75,330.00. Following the completion of the transaction, the chief financial officer now owns 54,267 shares in the company, valued at approximately $4,087,933.11. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 69,566 shares of company stock worth $5,254,000. 13.98% of the stock is currently owned by corporate insiders.

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.