Roku, Inc. (NASDAQ:ROKU) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC lowered its holdings in Roku, Inc. (NASDAQ:ROKU - Free Report) by 20.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 24,852 shares of the company's stock after selling 6,288 shares during the quarter. Commonwealth Equity Services LLC's holdings in Roku were worth $1,847,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in ROKU. Geneos Wealth Management Inc. raised its holdings in shares of Roku by 369.9% in the fourth quarter. Geneos Wealth Management Inc. now owns 343 shares of the company's stock valued at $25,000 after buying an additional 270 shares during the last quarter. Vision Financial Markets LLC acquired a new stake in Roku during the 4th quarter worth approximately $30,000. Raelipskie Partnership purchased a new position in shares of Roku in the 3rd quarter valued at approximately $32,000. Game Plan Financial Advisors LLC acquired a new position in shares of Roku in the fourth quarter valued at approximately $37,000. Finally, Farther Finance Advisors LLC raised its stake in shares of Roku by 23.9% during the fourth quarter. Farther Finance Advisors LLC now owns 627 shares of the company's stock worth $47,000 after purchasing an additional 121 shares during the last quarter. Institutional investors and hedge funds own 86.30% of the company's stock.

Roku Price Performance

NASDAQ:ROKU traded down $1.79 on Monday, reaching $70.71. The stock had a trading volume of 1,721,571 shares, compared to its average volume of 3,704,839. The company has a market cap of $10.32 billion, a price-to-earnings ratio of -79.32 and a beta of 2.12. Roku, Inc. has a 12-month low of $48.33 and a 12-month high of $104.96. The firm's fifty day moving average is $81.10 and its two-hundred day moving average is $77.72.

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Roku (NASDAQ:ROKU - Get Free Report) last released its earnings results on Thursday, February 13th. The company reported ($0.24) 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 firm had revenue of $1.20 billion during the quarter, compared to analysts' expectations of $1.15 billion. As a group, research analysts forecast that Roku, Inc. will post -0.3 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CAO Matthew C. Banks sold 1,906 shares of the firm's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $80.36, for a total transaction of $153,166.16. Following the completion of the sale, the chief accounting officer now directly owns 7,256 shares in the company, valued at $583,092.16. This trade represents a 20.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Dan Jedda sold 5,000 shares of Roku stock in a transaction on Friday, February 14th. The stock was sold at an average price of $100.40, for a total transaction of $502,000.00. Following the completion of the sale, the chief financial officer now owns 58,555 shares of the company's stock, valued at approximately $5,878,922. This trade represents a 7.87 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 97,908 shares of company stock worth $8,633,436. 13.98% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ROKU. JMP Securities upped their price objective on shares of Roku from $95.00 to $115.00 and gave the stock a "market outperform" rating in a research report on Friday, February 14th. Benchmark lifted their price objective on Roku from $100.00 to $130.00 and gave the company a "buy" rating in a report on Friday, February 14th. Loop Capital increased their target price on Roku from $70.00 to $80.00 and gave the stock a "hold" rating in a research note on Monday, December 9th. Bank of America started coverage on Roku in a research note on Thursday. They issued a "buy" rating and a $100.00 price target on the stock. Finally, Rosenblatt Securities reiterated a "neutral" rating and issued a $86.00 price objective on shares of Roku in a research report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have given a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $96.55.

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.