Sumitomo Mitsui Trust Group Inc. Sells 444,763 Shares of Roku, Inc. (NASDAQ:ROKU)

Sumitomo Mitsui Trust Group Inc. lowered its position in shares of Roku, Inc. (NASDAQ:ROKU - Free Report) by 6.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,451,262 shares of the company's stock after selling 444,763 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 4.46% of Roku worth $481,651,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ROKU. Harbour Investments Inc. increased its stake in shares of Roku by 12.4% during the 3rd quarter. Harbour Investments Inc. now owns 3,489 shares of the company's stock worth $260,000 after purchasing an additional 385 shares in the last quarter. Apollon Wealth Management LLC increased its position in Roku by 54.5% during the third quarter. Apollon Wealth Management LLC now owns 5,690 shares of the company's stock worth $425,000 after buying an additional 2,006 shares in the last quarter. Venturi Wealth Management LLC lifted its position in shares of Roku by 50.6% in the third quarter. Venturi Wealth Management LLC now owns 991 shares of the company's stock valued at $74,000 after acquiring an additional 333 shares in the last quarter. TRU Independence Asset Management 2 LLC acquired a new stake in shares of Roku during the third quarter valued at $212,000. Finally, Sigma Planning Corp increased its position in Roku by 4.7% during 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 in the last quarter. Institutional investors and hedge funds own 86.30% of the company's stock.

Insider Buying and Selling

In other Roku news, insider Charles Collier sold 15,454 shares of the 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 directly owns 200 shares in the company, valued at $15,000. This trade represents a 0.00 % 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. In other Roku news, insider Charles Collier sold 15,454 shares of the 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 directly owns 200 shares in the company, valued at $15,000. This trade represents a 0.00 % 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 1,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $75.33, for a total transaction of $75,330.00. Following the completion of the transaction, the chief financial officer now owns 54,267 shares in the company, valued at $4,087,933.11. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 69,776 shares of company stock worth $5,267,305. Insiders own 13.98% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ROKU. Bank of America boosted their price target on Roku from $75.00 to $90.00 and gave the company a "buy" rating in a report on Monday, September 30th. Needham & Company LLC reiterated a "buy" rating and set a $100.00 target price on shares of Roku in a research report on Thursday, October 31st. Piper Sandler lifted their price target on Roku from $60.00 to $75.00 and gave the company a "neutral" rating in a report on Thursday, October 31st. Wolfe Research raised shares of Roku from a "peer perform" rating to an "outperform" rating and set a $93.00 price objective for the company in a research note on Thursday, September 12th. Finally, Robert W. Baird raised their target price on shares of Roku from $56.00 to $75.00 and gave the stock a "neutral" rating in a research report on Monday, September 30th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $83.95.

Roku Price Performance

Shares of Roku stock traded up $0.10 during trading on Tuesday, reaching $77.22. 1,657,314 shares of the company traded hands, compared to its average volume of 4,425,101. The firm has a market capitalization of $11.21 billion, a PE ratio of -63.97 and a beta of 2.07. The company has a 50 day moving average price of $73.47 and a 200-day moving average price of $64.19. Roku, Inc. has a 1-year low of $48.33 and a 1-year high of $108.84.

Roku (NASDAQ:ROKU - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the previous year, the firm earned ($2.33) EPS. The firm's quarterly revenue was up 16.5% on a year-over-year basis. Equities research analysts expect 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.