Versor Investments LP Sells 26,155 Shares of Roku, Inc. (NASDAQ:ROKU)

Versor Investments LP decreased its position in Roku, Inc. (NASDAQ:ROKU - Free Report) by 76.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 7,893 shares of the company's stock after selling 26,155 shares during the period. Versor Investments LP's holdings in Roku were worth $589,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Future Financial Wealth Managment LLC purchased a new position in shares of Roku during the third quarter valued at approximately $43,000. EverSource Wealth Advisors LLC lifted its position in shares of Roku by 123.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company's stock worth $40,000 after purchasing an additional 375 shares during the period. Cedar Wealth Management LLC bought a new stake in shares of Roku during the 2nd quarter valued at about $48,000. Natixis purchased a new position in shares of Roku during the first quarter valued at about $53,000. Finally, Versant Capital Management Inc raised its stake in Roku by 706.2% in the second quarter. Versant Capital Management Inc now owns 911 shares of the company's stock worth $55,000 after buying an additional 798 shares in the last quarter. 86.30% of the stock is owned by hedge funds and other institutional investors.

Roku Price Performance

Shares of ROKU stock traded down $0.89 on Thursday, hitting $74.32. 2,263,271 shares of the stock traded hands, compared to its average volume of 4,413,474. Roku, Inc. has a 52 week low of $48.33 and a 52 week high of $108.84. The firm has a market cap of $10.79 billion, a price-to-earnings ratio of -61.93 and a beta of 2.07. The firm has a 50 day simple moving average of $74.12 and a two-hundred day simple moving average of $64.51.

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, topping analysts' consensus estimates of ($0.35) by $0.29. The firm had revenue of $1.06 billion during 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%. The business's quarterly revenue was up 16.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($2.33) earnings per share. Sell-side analysts forecast that Roku, Inc. will post -1.1 EPS for the current year.

Insider Transactions at Roku

In other Roku news, CEO Anthony J. Wood sold 25,000 shares of the firm's stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $77.20, for a total transaction of $1,930,000.00. Following the completion of the transaction, the chief executive officer now owns 5,020 shares in the company, valued at $387,544. This trade represents a 83.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Gilbert Fuchsberg sold 1,693 shares of the company's stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total value of $109,012.27. Following the sale, the insider now directly owns 38,602 shares in the company, valued at $2,485,582.78. This trade represents a 4.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 69,776 shares of company stock valued at $5,267,305. 13.98% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on ROKU shares. Guggenheim upgraded Roku from a "neutral" rating to a "buy" rating and set a $75.00 target price for the company in a research note on Friday, August 23rd. Jefferies Financial Group decreased their price target on Roku from $60.00 to $55.00 and set an "underperform" rating for the company in a research note on Friday, November 1st. Moffett Nathanson raised Roku from a "sell" rating to a "neutral" rating and set a $80.00 price objective on the stock in a research report on Tuesday, October 1st. Piper Sandler boosted their target price on Roku from $60.00 to $75.00 and gave the stock a "neutral" rating in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. raised their price target on shares of Roku from $90.00 to $92.00 and gave the company an "overweight" rating in a report on Thursday, October 10th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $83.95.

Roku Company 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.