Roku, Inc. $ROKU Stock: Sumitomo Mitsui Trust Group Inc. Decreases Position

Sumitomo Mitsui Trust Group Inc. decreased its position in Roku, Inc. (NASDAQ:ROKU) by 89.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 67,869 shares of the company’s stock after selling 559,115 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Roku were worth $10,335,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership raised its stake in shares of Roku by 229.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,038,347 shares of the company’s stock worth $192,868,000 after buying an additional 1,419,772 shares during the last quarter. HBK Investments L P acquired a new stake in Roku in the 2nd quarter valued at about $163,604,000. Renaissance Technologies LLC grew its stake in Roku by 22.8% in the 1st quarter. Renaissance Technologies LLC now owns 1,565,100 shares of the company’s stock valued at $148,090,000 after acquiring an additional 290,200 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in Roku in the 2nd quarter valued at about $105,216,000. Finally, Bank of America Corp DE increased its holdings in Roku by 5.5% during the 1st quarter. Bank of America Corp DE now owns 1,082,755 shares of the company’s stock valued at $102,450,000 after acquiring an additional 56,893 shares in the last quarter. Institutional investors and hedge funds own 86.30% of the company’s stock.

Roku Trading Up 0.1%

Shares of NASDAQ ROKU traded up $0.15 during trading on Friday, reaching $160.52. The company had a trading volume of 11,519,211 shares, compared to its average volume of 2,390,983. Roku, Inc. has a twelve month low of $78.53 and a twelve month high of $163.57. The stock has a market capitalization of $23.82 billion, a PE ratio of 47.49 and a beta of 2.12. The stock has a 50-day moving average price of $155.33 and a two-hundred day moving average price of $128.92.

Roku (NASDAQ:ROKU) last issued its quarterly earnings data on Monday, November 2nd. The company reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.65. The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.41 billion. Roku had a return on equity of 19.19% and a net margin of 9.34%. The business’s revenue was up 24.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.16 earnings per share. On average, sell-side analysts predict that Roku, Inc. will post 3.28 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on ROKU shares. BMO Capital Markets upgraded shares of Roku from a “market perform” rating to an “outperform” rating in a research report on Tuesday. Zacks Research raised shares of Roku from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 11th. Weiss Ratings upgraded shares of Roku from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday. Wedbush reiterated a “neutral” rating and issued a $155.00 price target on shares of Roku in a research report on Thursday, September 24th. Finally, UBS Group raised their price objective on shares of Roku from $126.00 to $172.00 and gave the stock a “neutral” rating in a research note on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eighteen have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $156.17.

Trending Headlines about Roku

Here are the key news stories impacting Roku this week:

• Positive Sentiment: Fox completed its reported $22 billion acquisition of Roku, combining Roku’s streaming platform with Fox’s media and advertising business. Fox expects the transaction to create more opportunities to reach audiences and serve advertising partners, while also expanding the reach of its sports and news programming. Fox completes its $22B acquisition of Roku
• Neutral Sentiment: The acquisition’s completion means Roku will no longer trade on Nasdaq as of Friday. Investors should view ROKU’s immediate trading implications in light of the completed transaction, rather than solely as a bet on Roku’s future as an independent company. Fox Corp. Closes $22B Acquisition Of Roku
• Neutral Sentiment: Roku head Charlie Collier and Tubi CEO Anjali Sud are departing, with Paul Cheesbrough named CEO of Fox Digital Platforms. The leadership changes signal a reshaping of Fox’s combined digital operation, though the reports provide no details on the expected financial impact. Fox Digital Platforms leadership changes

Insider Transactions at Roku

In other Roku news, insider Charles Collier sold 20,538 shares of the firm’s stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $156.99, for a total transaction of $3,224,260.62. Following the sale, the insider directly owned 22,700 shares of the company’s stock, valued at $3,563,673. This trade represents a 47.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gilbert Fuchsberg sold 4,824 shares of Roku stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $155.64, for a total transaction of $750,807.36. Following the sale, the insider owned 40,168 shares of the company’s stock, valued at approximately $6,251,747.52. This trade represents a 10.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 88,028 shares of company stock worth $13,645,922 in the last ninety days. Company insiders own 13.45% of the company’s stock.

Roku Company Profile

Roku, Inc (NASDAQ: ROKU) operates a television streaming platform that connects consumers with digital entertainment. The company develops and licenses Roku OS, an operating system for smart televisions and streaming devices, and offers Roku-branded streaming players, Roku TVs, audio products and related accessories.

Roku also operates a platform business that distributes streaming content through its interface and supports content discovery, subscriptions and digital advertising. Its services include The Roku Channel, which provides a selection of ad-supported and premium entertainment, as well as tools that enable content providers and advertisers to reach streaming audiences.

Founded in 2002 by Anthony Wood, Roku initially became known for its streaming players and later expanded through partnerships with television manufacturers.