Sessa Capital IM L.P. Sells 150,000 Shares of Roku, Inc. (NASDAQ:ROKU)

Sessa Capital IM L.P. decreased its stake in shares of Roku, Inc. (NASDAQ:ROKU - Free Report) by 30.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 350,000 shares of the company's stock after selling 150,000 shares during the period. Roku makes up about 1.0% of Sessa Capital IM L.P.'s investment portfolio, making the stock its 18th largest holding. Sessa Capital IM L.P. owned about 0.24% of Roku worth $26,131,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its stake in Roku by 3.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 955,969 shares of the company's stock valued at $71,373,000 after acquiring an additional 30,038 shares in the last quarter. GS Investments Inc. lifted 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 worth $44,000 after purchasing an additional 147 shares in the last quarter. Landscape Capital Management L.L.C. acquired a new position in Roku during the third quarter worth $1,969,000. EULAV Asset Management grew its position in Roku by 59.1% in the third quarter. EULAV Asset Management now owns 183,000 shares of the company's stock valued at $13,663,000 after purchasing an additional 68,000 shares in the last quarter. Finally, Avior Wealth Management LLC increased its stake in Roku by 104.5% in the 3rd quarter. Avior Wealth Management LLC now owns 6,418 shares of the company's stock valued at $479,000 after buying an additional 3,280 shares during the last quarter. 86.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ROKU has been the subject of a number of recent research reports. UBS Group initiated coverage on shares of Roku in a research note on Friday. They set a "neutral" rating and a $73.00 price objective for the company. Wedbush increased their price target on Roku from $75.00 to $85.00 and gave the company an "outperform" rating in a research report on Friday, October 25th. Robert W. Baird raised Roku from a "neutral" rating to an "outperform" rating and boosted their price target for the stock from $70.00 to $90.00 in a research report on Monday. Piper Sandler upped their price objective on Roku from $60.00 to $75.00 and gave the stock a "neutral" rating in a research note on Thursday, October 31st. Finally, Loop Capital boosted their target price on shares of Roku from $65.00 to $70.00 and gave the stock a "hold" rating in a report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $84.14.

Roku Trading Up 0.7 %

NASDAQ ROKU traded up $0.49 on Friday, hitting $69.17. 3,109,198 shares of the company's stock were exchanged, compared to its average volume of 4,418,771. Roku, Inc. has a 52 week low of $48.33 and a 52 week high of $108.84. The stock has a 50-day moving average of $74.56 and a 200-day moving average of $65.00. The stock has a market cap of $10.04 billion, a price-to-earnings ratio of -56.98 and a beta of 2.07.

Roku (NASDAQ:ROKU - Get Free Report) last released 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 for 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 revenue was up 16.5% compared to the same quarter last year. During the same period last year, the firm posted ($2.33) earnings per share. As a group, analysts predict that Roku, Inc. will post -1.1 earnings per share for the current year.

Insider Activity at Roku

In related news, CEO Anthony J. Wood sold 25,000 shares of the business's stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the sale, the chief executive officer now owns 5,020 shares in the company, valued at $376,500. The trade was a 83.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Charles Collier sold 15,454 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $75.00, for a total value of $1,159,050.00. Following the completion of the transaction, the insider now owns 200 shares of the company's stock, valued at $15,000. This represents a 98.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 90,240 shares of company stock valued at $6,729,582. 13.98% of the stock is owned by insiders.

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.