Newbridge Financial Services Group Inc. Lowers Position in Roku, Inc. (NASDAQ:ROKU)

Newbridge Financial Services Group Inc. trimmed its position in shares of Roku, Inc. (NASDAQ:ROKU) by 31.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 960 shares of the company’s stock after selling 433 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in Roku were worth $71,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. FMR LLC boosted its holdings in Roku by 1.7% during the third quarter. FMR LLC now owns 14,570,372 shares of the company’s stock worth $1,087,824,000 after purchasing an additional 244,793 shares during the last quarter. Holocene Advisors LP purchased a new stake in Roku in the 3rd quarter valued at about $129,015,000. Westfield Capital Management Co. LP grew its holdings in shares of Roku by 126.1% in the third quarter. Westfield Capital Management Co. LP now owns 1,535,576 shares of the company’s stock valued at $114,646,000 after acquiring an additional 856,401 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Roku by 3.2% during the third 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 during the last quarter. Finally, Point72 Asset Management L.P. increased its position in shares of Roku by 352.5% during the third quarter. Point72 Asset Management L.P. now owns 651,658 shares of the company’s stock valued at $48,653,000 after acquiring an additional 507,643 shares during the last quarter. Institutional investors own 86.30% of the company’s stock.

Insider Activity

In related news, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $79.77, for a total value of $1,994,250.00. Following the sale, the chief executive officer now directly owns 26,538 shares of the company’s stock, valued at $2,116,936.26. This trade represents a 48.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Dan Jedda sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $77.18, for a total transaction of $77,180.00. Following the completion of the transaction, the chief financial officer now directly owns 63,555 shares of the company’s stock, valued at approximately $4,905,174.90. This represents a 1.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 72,885 shares of company stock worth $5,712,912 in the last three months. Corporate insiders own 13.98% of the company’s stock.

Roku Trading Down 0.5 %

Shares of NASDAQ:ROKU opened at $84.60 on Tuesday. Roku, Inc. has a 12 month low of $48.33 and a 12 month high of $99.80. The stock has a market cap of $12.28 billion, a P/E ratio of -70.50 and a beta of 2.05. The company has a 50 day moving average of $79.84 and a 200 day moving average of $72.84.

Wall Street Analysts Forecast Growth

ROKU has been the subject of a number of recent analyst reports. Needham & Company LLC restated a “buy” rating and issued a $100.00 price objective on shares of Roku in a research note on Tuesday, January 7th. Jefferies Financial Group reduced their price target on shares of Roku from $60.00 to $55.00 and set an “underperform” rating for the company in a research report on Friday, November 1st. UBS Group started coverage on shares of Roku in a research report on Friday, November 22nd. They issued a “neutral” rating and a $73.00 price objective on the stock. Wedbush reiterated an “outperform” rating and issued a $100.00 target price on shares of Roku in a research note on Monday. Finally, Robert W. Baird upgraded shares of Roku from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $70.00 to $90.00 in a research note on Monday, November 18th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Roku has a consensus rating of “Moderate Buy” and an average target price of $83.18.

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.