ARK Investment Management LLC Sells 550,091 Shares of Roku, Inc. (NASDAQ:ROKU)

ARK Investment Management LLC lessened its position in shares of Roku, Inc. (NASDAQ:ROKU - Free Report) by 4.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,671,956 shares of the company's stock after selling 550,091 shares during the period. Roku makes up approximately 6.6% of ARK Investment Management LLC's investment portfolio, making the stock its 2nd largest position. ARK Investment Management LLC owned about 7.35% of Roku worth $793,353,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Geneos Wealth Management Inc. boosted its holdings in shares of Roku by 369.9% during the fourth quarter. Geneos Wealth Management Inc. now owns 343 shares of the company's stock worth $25,000 after acquiring an additional 270 shares during the period. Raelipskie Partnership acquired a new stake in shares of Roku in the third quarter valued at approximately $32,000. Game Plan Financial Advisors LLC acquired a new stake in shares of Roku in the fourth quarter valued at approximately $37,000. GS Investments Inc. raised its position in shares of Roku by 33.4% in 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 in the last quarter. Finally, Allworth Financial LP raised its position in shares of Roku by 52.8% in the fourth quarter. Allworth Financial LP now owns 634 shares of the company's stock valued at $50,000 after buying an additional 219 shares in the last quarter. Institutional investors own 86.30% of the company's stock.

Roku Stock Up 2.5 %

Shares of NASDAQ:ROKU traded up $2.02 during trading on Friday, hitting $83.51. 3,053,372 shares of the company were exchanged, compared to its average volume of 3,707,244. The business's 50 day moving average is $82.14 and its 200-day moving average is $76.08. The company has a market capitalization of $12.19 billion, a P/E ratio of -93.83 and a beta of 2.05. Roku, Inc. has a 1-year low of $48.33 and a 1-year high of $104.96.

Roku (NASDAQ:ROKU - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.20. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.15 billion. As a group, sell-side analysts anticipate that Roku, Inc. will post -0.3 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Benchmark lifted their price target on shares of Roku from $100.00 to $130.00 and gave the company a "buy" rating in a research report on Friday, February 14th. Wedbush reiterated an "outperform" rating and issued a $100.00 price target on shares of Roku in a research report on Monday, February 10th. JMP Securities lifted their price target on shares of Roku from $95.00 to $115.00 and gave the company a "market outperform" rating in a research report on Friday, February 14th. Needham & Company LLC reiterated a "buy" rating and issued a $100.00 price target on shares of Roku in a research report on Tuesday, January 7th. Finally, Wells Fargo & Company upgraded shares of Roku from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $74.00 to $129.00 in a research report on Friday, February 14th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $96.00.

Insider Buying and Selling

In other Roku news, CEO Anthony J. Wood sold 25,000 shares of the company's stock in a transaction on Friday, January 10th. The shares were sold at an average price of $79.77, for a total transaction of $1,994,250.00. Following the sale, the chief executive officer now owns 26,538 shares of the company's stock, valued at approximately $2,116,936.26. This represents a 48.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Dan Jedda sold 1,000 shares of the company's stock in a transaction on Monday, December 16th. The shares were sold at an average price of $82.73, for a total transaction of $82,730.00. Following the sale, the chief financial officer now directly owns 64,555 shares in the company, valued at $5,340,635.15. This trade represents a 1.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 109,432 shares of company stock valued at $9,661,783 over the last 90 days. 13.98% of the stock is owned by insiders.

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.