Roku, Inc. (NASDAQ:ROKU) Shares Sold by ARK Investment Management LLC

ARK Investment Management LLC lowered its position in Roku, Inc. (NASDAQ:ROKU) by 8.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,528,872 shares of the company’s stock after selling 910,941 shares during the quarter. Roku makes up about 5.2% of ARK Investment Management LLC’s investment portfolio, making the stock its 5th largest holding. ARK Investment Management LLC owned 6.69% of Roku worth $873,416,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in ROKU. FMR LLC lifted its stake in Roku by 85.9% in the third quarter. FMR LLC now owns 9,441,349 shares of the company’s stock valued at $666,465,000 after acquiring an additional 4,363,754 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Roku by 772.1% in the first quarter. Renaissance Technologies LLC now owns 2,808,100 shares of the company’s stock valued at $351,771,000 after acquiring an additional 2,486,100 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Roku by 97.2% in the first quarter. Wellington Management Group LLP now owns 4,174,003 shares of the company’s stock valued at $522,878,000 after purchasing an additional 2,057,633 shares during the period. Norges Bank bought a new position in shares of Roku in the fourth quarter valued at about $32,612,000. Finally, Lord Abbett & CO. LLC bought a new position in shares of Roku in the third quarter valued at about $55,182,000. Institutional investors and hedge funds own 86.30% of the company’s stock.

Roku Stock Performance

Roku stock opened at $65.58 on Thursday. The firm has a 50 day moving average price of $75.66 and a two-hundred day moving average price of $80.33. Roku, Inc. has a 52-week low of $51.62 and a 52-week high of $108.84.

Roku (NASDAQ:ROKU) last announced its quarterly earnings results on Thursday, February 15th. The company reported ($0.55) EPS for the quarter, beating analysts’ consensus estimates of ($0.65) by $0.10. The business had revenue of $984.40 million during the quarter, compared to analyst estimates of $967.72 million. Roku had a negative net margin of 20.36% and a negative return on equity of 29.21%. Roku’s quarterly revenue was up 13.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.70) EPS. Equities analysts expect that Roku, Inc. will post -2.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ROKU shares. Seaport Res Ptn lowered shares of Roku from a “neutral” rating to a “sell” rating in a research report on Monday, December 18th. Citigroup dropped their price objective on shares of Roku from $110.00 to $75.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 21st. Oppenheimer lowered shares of Roku from an “outperform” rating to a “market perform” rating in a research report on Friday, February 16th. Stephens reaffirmed an “overweight” rating and set a $105.00 price target on shares of Roku in a research report on Friday, February 16th. Finally, Susquehanna raised their price target on shares of Roku from $100.00 to $110.00 and gave the stock a “positive” rating in a research report on Friday, February 16th. Five research analysts have rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $86.00.

Insider Buying and Selling at Roku

In other Roku news, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $98.64, for a total transaction of $2,466,000.00. Following the completion of the sale, the chief executive officer now owns 141,221 shares in the company, valued at approximately $13,930,039.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Charles Collier sold 12,277 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $65.06, for a total value of $798,741.62. Following the transaction, the insider now directly owns 4,292 shares of the company’s stock, valued at approximately $279,237.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $98.64, for a total transaction of $2,466,000.00. Following the completion of the transaction, the chief executive officer now directly owns 141,221 shares in the company, valued at $13,930,039.44. The disclosure for this sale can be found here. In the last 90 days, insiders sold 79,543 shares of company stock worth $6,631,587. 13.63% of the stock is owned by corporate 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.