Geode Capital Management LLC Cuts Stock Holdings in Roku, Inc. (NASDAQ:ROKU)

Geode Capital Management LLC trimmed its position in Roku, Inc. (NASDAQ:ROKU - Free Report) by 1.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,090,439 shares of the company's stock after selling 31,493 shares during the period. Geode Capital Management LLC owned 1.44% of Roku worth $155,704,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in ROKU. Raelipskie Partnership purchased a new position in shares of Roku during the third quarter valued at approximately $32,000. EverSource Wealth Advisors LLC increased its position in Roku by 123.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company's stock valued at $40,000 after buying an additional 375 shares in the last quarter. Future Financial Wealth Managment LLC bought a new position in Roku during the 3rd quarter valued at approximately $43,000. GS Investments Inc. raised its stake in Roku by 33.4% during the third quarter. GS Investments Inc. now owns 587 shares of the company's stock valued at $44,000 after buying an additional 147 shares during the last quarter. Finally, Cedar Wealth Management LLC bought a new stake in Roku in the second quarter worth $48,000. Institutional investors own 86.30% of the company's stock.

Roku Stock Down 0.1 %

Shares of Roku stock traded down $0.05 during trading hours on Tuesday, reaching $83.39. 2,152,432 shares of the stock traded hands, compared to its average volume of 4,384,939. Roku, Inc. has a one year low of $48.33 and a one year high of $99.80. The firm has a market capitalization of $12.11 billion, a price-to-earnings ratio of -69.74 and a beta of 2.06. The company has a 50 day moving average price of $75.14 and a 200 day moving average price of $67.22.

Roku (NASDAQ:ROKU - Get Free Report) last announced its earnings results 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. 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 during the quarter, compared to analyst estimates of $1.02 billion. During the same period in the previous year, the business posted ($2.33) earnings per share. The firm's quarterly revenue was up 16.5% compared to the same quarter last year. Sell-side analysts anticipate that Roku, Inc. will post -1.1 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ROKU. Rosenblatt Securities raised their price target on Roku from $61.00 to $86.00 and gave the company a "neutral" rating in a report on Thursday, October 31st. Needham & Company LLC restated a "buy" rating and set a $100.00 price objective on shares of Roku in a research note on Wednesday, December 4th. Baird R W raised shares of Roku from a "hold" rating to a "strong-buy" rating in a report on Monday, November 18th. Moffett Nathanson upgraded shares of Roku from a "sell" rating to a "neutral" rating and set a $80.00 price target on the stock in a report on Tuesday, October 1st. Finally, Wolfe Research upgraded shares of Roku from a "peer perform" rating to an "outperform" rating and set a $93.00 price objective for the company in a report on Thursday, September 12th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Roku has an average rating of "Moderate Buy" and an average price target of $83.81.

Insider Transactions at Roku

In other news, CFO Dan Jedda sold 1,000 shares of the stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 53,267 shares of the company's stock, valued at $4,061,608.75. This represents a 1.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $77.20, for a total transaction of $1,930,000.00. Following the transaction, the chief executive officer now owns 5,020 shares in the company, valued at approximately $387,544. This trade represents a 83.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 73,096 shares of company stock worth $5,661,223 in the last three months. Corporate insiders own 13.98% of the company's stock.

Roku 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.