Entropy Technologies LP Has $523,000 Position in Roku, Inc. (NASDAQ:ROKU)

Entropy Technologies LP reduced its holdings in shares of Roku, Inc. (NASDAQ:ROKU - Free Report) by 69.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,005 shares of the company's stock after selling 15,870 shares during the period. Entropy Technologies LP's holdings in Roku were worth $523,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of ROKU. Apollon Wealth Management LLC increased its stake in shares of Roku by 54.5% in the third quarter. Apollon Wealth Management LLC now owns 5,690 shares of the company's stock worth $425,000 after purchasing an additional 2,006 shares in the last quarter. Venturi Wealth Management LLC grew its position in shares of Roku by 50.6% during the third quarter. Venturi Wealth Management LLC now owns 991 shares of the company's stock worth $74,000 after purchasing an additional 333 shares in the last quarter. TRU Independence Asset Management 2 LLC bought a new stake in Roku during the 3rd quarter valued at approximately $212,000. Sigma Planning Corp boosted its stake in Roku by 4.7% in the 3rd quarter. Sigma Planning Corp now owns 8,256 shares of the company's stock worth $616,000 after purchasing an additional 370 shares during the period. Finally, Concurrent Investment Advisors LLC bought a new stake in shares of Roku during the third quarter valued at approximately $274,000. 86.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Charles Collier sold 15,454 shares of the firm'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 $1,159,050.00. Following the transaction, the insider now owns 200 shares of the company's stock, valued at approximately $15,000. This trade represents a 98.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of the business's stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $77.20, for a total value of $1,930,000.00. Following the completion of the sale, the chief executive officer now directly owns 5,020 shares of the company's stock, valued at $387,544. This represents a 83.28 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 69,776 shares of company stock valued at $5,267,305. Company insiders own 13.98% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ROKU. Loop Capital lifted their price target on shares of Roku from $65.00 to $70.00 and gave the company a "hold" rating in a report on Thursday, October 31st. Wedbush raised their price target on Roku from $75.00 to $85.00 and gave the stock an "outperform" rating in a research note on Friday, October 25th. Wolfe Research raised shares of Roku from a "peer perform" rating to an "outperform" rating and set a $93.00 price target on the stock in a research note on Thursday, September 12th. Citigroup boosted their price target on shares of Roku from $60.00 to $77.00 and gave the company a "neutral" rating in a report on Wednesday, September 25th. Finally, Jefferies Financial Group cut their price target on Roku from $60.00 to $55.00 and set an "underperform" rating on the stock in a report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $83.95.

Roku Stock Performance

Shares of Roku stock traded down $5.45 on Friday, reaching $68.87. 5,824,108 shares of the company were exchanged, compared to its average volume of 4,419,865. Roku, Inc. has a 1-year low of $48.33 and a 1-year high of $108.84. The company's 50-day moving average is $74.36 and its two-hundred day moving average is $64.65. The firm has a market cap of $10.00 billion, a price-to-earnings ratio of -57.39 and a beta of 2.07.

Roku (NASDAQ:ROKU - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.06) earnings per share 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%. The company's revenue was up 16.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($2.33) earnings per share. As a group, sell-side analysts forecast that Roku, Inc. will post -1.1 earnings per share for the current 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.