Roku, Inc. (NASDAQ:ROKU) Stock Holdings Decreased by ARK Investment Management LLC

ARK Investment Management LLC reduced its holdings in shares of Roku, Inc. (NASDAQ:ROKU - Free Report) by 11.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,222,047 shares of the company's stock after selling 1,494,385 shares during the quarter. Roku accounts for 7.7% of ARK Investment Management LLC's portfolio, making the stock its 2nd largest position. ARK Investment Management LLC owned about 7.78% of Roku worth $837,838,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ROKU. EverSource Wealth Advisors LLC grew its stake in Roku by 123.4% during 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 period. Future Financial Wealth Managment LLC purchased a new stake in Roku during the third quarter worth approximately $43,000. Geneos Wealth Management Inc. grew its stake in Roku by 835.6% during the first quarter. Geneos Wealth Management Inc. now owns 683 shares of the company's stock worth $45,000 after buying an additional 610 shares during the period. Cedar Wealth Management LLC purchased a new stake in Roku during the second quarter worth approximately $48,000. Finally, Natixis purchased a new stake in Roku during the first quarter worth approximately $53,000. 86.30% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ROKU. Benchmark restated a "buy" rating and issued a $105.00 target price on shares of Roku in a research note on Thursday, September 12th. Rosenblatt Securities upped their target price on shares of Roku from $61.00 to $86.00 and gave the company a "neutral" rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. upped their target price on shares of Roku from $90.00 to $92.00 and gave the company an "overweight" rating in a research note on Thursday, October 10th. Citigroup increased their price objective on shares of Roku from $60.00 to $77.00 and gave the company a "neutral" rating in a research note on Wednesday, September 25th. Finally, Moffett Nathanson upgraded shares of Roku from a "sell" rating to a "neutral" rating and set a $80.00 price objective on the stock in a research note on Tuesday, October 1st. Two analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Roku currently has an average rating of "Hold" and an average price target of $83.95.

Roku Trading Up 2.5 %

NASDAQ:ROKU traded up $1.79 during mid-day trading on Friday, hitting $73.82. The stock had a trading volume of 4,226,468 shares, compared to its average volume of 4,442,223. Roku, Inc. has a 52 week low of $48.33 and a 52 week high of $108.84. The stock has a market capitalization of $10.72 billion, a price-to-earnings ratio of -59.42 and a beta of 2.07. The company has a 50 day simple moving average of $73.35 and a 200-day simple moving average of $64.05.

Roku (NASDAQ:ROKU - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($0.06) EPS for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $1.02 billion. During the same period in the previous year, the firm earned ($2.33) EPS. Roku's revenue was up 16.5% on a year-over-year basis. As a group, equities research analysts anticipate that Roku, Inc. will post -1.1 earnings per share for the current year.

Insiders Place Their Bets

In other Roku news, insider Gilbert Fuchsberg sold 1,693 shares of the business's stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $64.39, for a total transaction of $109,012.27. Following the sale, the insider now directly 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 Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Dan Jedda sold 1,000 shares of Roku stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $76.25, for a total value of $76,250.00. Following the transaction, the chief financial officer now owns 53,267 shares of the company's stock, valued at $4,061,608.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Gilbert Fuchsberg sold 1,693 shares of Roku stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total transaction of $109,012.27. Following the completion of the transaction, the insider now directly owns 38,602 shares in the company, valued at $2,485,582.78. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 69,776 shares of company stock worth $5,267,305. 13.98% of the stock is owned by corporate insiders.

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.