Roku, Inc. (NASDAQ:ROKU) Stake Lessened by Toronto Dominion Bank

Toronto Dominion Bank decreased its position in shares of Roku, Inc. (NASDAQ:ROKU) by 15.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,209 shares of the company’s stock after selling 2,871 shares during the period. Toronto Dominion Bank’s holdings in Roku were worth $1,210,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in ROKU. Raelipskie Partnership bought a new position in shares of Roku during the 3rd quarter valued at about $32,000. Future Financial Wealth Managment LLC acquired a new stake in Roku during the third quarter valued at approximately $43,000. GS Investments Inc. boosted its holdings in Roku by 33.4% during the third quarter. GS Investments Inc. now owns 587 shares of the company’s stock worth $44,000 after buying an additional 147 shares in the last quarter. EverSource Wealth Advisors LLC grew its position 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 buying an additional 375 shares during the last quarter. Finally, Cedar Wealth Management LLC bought a new position in shares of Roku in the second quarter valued at $48,000. 86.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ROKU shares. Jefferies Financial Group reduced their price objective on Roku from $60.00 to $55.00 and set an “underperform” rating for the company in a research note on Friday, November 1st. Rosenblatt Securities lifted their price target on Roku from $61.00 to $86.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Benchmark reaffirmed a “buy” rating and set a $105.00 price objective on shares of Roku in a research note on Thursday, September 12th. Wolfe Research raised shares of Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 target price on the stock in a research report on Thursday, September 12th. Finally, Robert W. Baird upgraded shares of Roku from a “neutral” rating to an “outperform” rating and upped their price target for the company from $70.00 to $90.00 in a research report on Monday, November 18th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $83.81.

Insider Buying and Selling at Roku

In other news, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $82.64, for a total value of $2,066,000.00. Following the transaction, the chief executive officer now owns 26,538 shares of the company’s stock, valued at $2,193,100.32. 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 can be accessed through this hyperlink. Also, CAO Matthew C. Banks sold 8,693 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $71.44, for a total transaction of $621,027.92. Following the completion of the sale, the chief accounting officer now owns 7,264 shares of the company’s stock, valued at $518,940.16. The trade was a 54.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 72,096 shares of company stock worth $5,578,493 over the last three months. Corporate insiders own 13.98% of the company’s stock.

Roku Stock Performance

NASDAQ:ROKU opened at $83.44 on Tuesday. The company has a market capitalization of $12.12 billion, a P/E ratio of -69.53 and a beta of 2.06. The stock’s 50 day moving average price is $75.00 and its 200 day moving average price is $67.03. Roku, Inc. has a 52 week low of $48.33 and a 52 week high of $99.80.

Roku (NASDAQ:ROKU) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.06) EPS 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 analyst estimates of $1.02 billion. During the same quarter in the prior year, the business posted ($2.33) EPS. Roku’s quarterly revenue was up 16.5% on a year-over-year basis. As a group, sell-side analysts forecast that Roku, Inc. will post -1.1 earnings per share for the current fiscal year.

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.