Daiwa Securities Group Inc. Sells 18,139 Shares of Roku, Inc. (NASDAQ:ROKU)

Daiwa Securities Group Inc. lessened its holdings in Roku, Inc. (NASDAQ:ROKU - Free Report) by 49.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,549 shares of the company's stock after selling 18,139 shares during the period. Daiwa Securities Group Inc.'s holdings in Roku were worth $1,384,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Westfield Capital Management Co. LP boosted its stake in shares of Roku by 126.1% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,535,576 shares of the company's stock valued at $114,646,000 after purchasing an additional 856,401 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Roku by 645.3% during the 2nd quarter. AQR Capital Management LLC now owns 221,557 shares of the company's stock valued at $13,278,000 after purchasing an additional 191,831 shares during the last quarter. ARK Investment Management LLC boosted its position 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 buying an additional 159,785 shares in the last quarter. Andra AP fonden grew its stake in Roku by 116.6% during the second quarter. Andra AP fonden now owns 293,900 shares of the company's stock worth $17,613,000 after buying an additional 158,200 shares during the last quarter. Finally, Jupiter Asset Management Ltd. increased its holdings in shares of Roku by 279.5% during the second quarter. Jupiter Asset Management Ltd. now owns 175,645 shares of the company's stock worth $10,526,000 after buying an additional 129,360 shares in the last quarter. Institutional investors own 86.30% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on ROKU shares. Rosenblatt Securities increased their price target on Roku from $61.00 to $86.00 and gave the stock a "neutral" rating in a research report on Thursday, October 31st. Guggenheim upgraded Roku from a "neutral" rating to a "buy" rating and set a $75.00 target price on the stock in a report on Friday, August 23rd. Macquarie reaffirmed an "outperform" rating and issued a $90.00 price target on shares of Roku in a report on Thursday, October 31st. Morgan Stanley upped their price target on shares of Roku from $60.00 to $65.00 and gave the stock an "underweight" rating in a research report on Tuesday, October 29th. Finally, Piper Sandler raised their price objective on shares of Roku from $60.00 to $75.00 and gave the company a "neutral" rating in a research report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, nine have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Roku presently has an average rating of "Moderate Buy" and a consensus target price of $82.62.

Insider Transactions at Roku

In other news, CFO Dan Jedda sold 1,000 shares of the business's stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $75.33, for a total value of $75,330.00. Following the sale, the chief financial officer now directly owns 54,267 shares in the company, valued at $4,087,933.11. The trade was a 1.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $75.00, for a total value of $1,875,000.00. Following the transaction, the chief executive officer now owns 5,020 shares of the company's stock, valued at approximately $376,500. The trade was a 83.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 90,240 shares of company stock valued at $6,729,582 over the last quarter. Corporate insiders own 13.98% of the company's stock.

Roku Stock Performance

NASDAQ:ROKU traded up $1.32 on Friday, reaching $69.03. The company's stock had a trading volume of 1,540,099 shares, compared to its average volume of 4,397,955. Roku, Inc. has a 1-year low of $48.33 and a 1-year high of $108.84. The business's 50-day moving average price is $73.63 and its two-hundred day moving average price is $65.34. The firm has a market cap of $10.02 billion, a PE ratio of -57.53 and a beta of 2.07.

Roku (NASDAQ:ROKU - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. Roku had a negative return on equity of 7.22% and a negative net margin of 4.42%. Roku's quarterly revenue was up 16.5% compared to the same quarter last year. During the same period in the previous year, the firm earned ($2.33) EPS. As a group, sell-side 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.