Duality Advisers LP Decreases Stake in Roku, Inc. (NASDAQ:ROKU)

Duality Advisers LP cut its stake in shares of Roku, Inc. (NASDAQ:ROKU) by 70.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,826 shares of the company’s stock after selling 33,455 shares during the quarter. Duality Advisers LP’s holdings in Roku were worth $910,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. ARK Investment Management LLC lifted its stake in Roku by 3.0% during the 1st quarter. ARK Investment Management LLC now owns 12,483,431 shares of the company’s stock valued at $821,659,000 after acquiring an additional 368,450 shares during the period. Vanguard Group Inc. boosted its holdings in Roku by 1.9% in the third quarter. Vanguard Group Inc. now owns 10,897,100 shares of the company’s stock valued at $614,596,000 after purchasing an additional 206,357 shares during the last quarter. Nikko Asset Management Americas Inc. grew its position in Roku by 6.3% during the 4th quarter. Nikko Asset Management Americas Inc. now owns 7,511,858 shares of the company’s stock worth $305,507,000 after purchasing an additional 442,525 shares during the period. FMR LLC raised its stake in shares of Roku by 62.8% during the 1st quarter. FMR LLC now owns 4,782,318 shares of the company’s stock valued at $314,772,000 after buying an additional 1,844,297 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of Roku by 97.2% in the 1st quarter. Wellington Management Group LLP now owns 4,174,003 shares of the company’s stock valued at $522,878,000 after buying an additional 2,057,633 shares during the period. 69.21% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Roku

In other Roku news, SVP Stephen H. Kay sold 5,692 shares of the business’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $91.68, for a total transaction of $521,842.56. Following the transaction, the senior vice president now owns 78,527 shares of the company’s stock, valued at $7,199,355.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Stephen H. Kay sold 5,692 shares of the business’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $91.68, for a total transaction of $521,842.56. Following the transaction, the senior vice president now owns 78,527 shares of the company’s stock, valued at approximately $7,199,355.36. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Mustafa Ozgen sold 2,390 shares of the company’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $82.69, for a total transaction of $197,629.10. Following the completion of the sale, the insider now directly owns 31,340 shares of the company’s stock, valued at approximately $2,591,504.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,000 shares of company stock valued at $1,615,295. 13.63% of the stock is currently owned by insiders.

Analysts Set New Price Targets

ROKU has been the subject of several recent research reports. Wedbush lifted their price target on Roku from $93.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, September 7th. Susquehanna reiterated a “positive” rating and issued a $95.00 target price on shares of Roku in a research note on Thursday, September 7th. Pivotal Research raised their price target on shares of Roku from $53.00 to $58.00 and gave the company a “sell” rating in a research report on Friday, July 28th. DA Davidson upped their price objective on shares of Roku from $100.00 to $102.00 and gave the stock a “buy” rating in a research report on Thursday, September 7th. Finally, Wells Fargo & Company increased their target price on shares of Roku from $63.00 to $84.00 and gave the stock an “equal weight” rating in a research note on Friday, July 28th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Roku has a consensus rating of “Hold” and a consensus price target of $82.17.

Roku Stock Down 2.0 %

Shares of NASDAQ ROKU opened at $76.26 on Monday. The firm has a 50-day simple moving average of $80.04 and a 200-day simple moving average of $68.03. The stock has a market capitalization of $10.79 billion, a price-to-earnings ratio of -16.16 and a beta of 1.76. Roku, Inc. has a 52 week low of $38.26 and a 52 week high of $98.44.

Roku (NASDAQ:ROKU) last announced its quarterly earnings data on Thursday, July 27th. The company reported ($0.76) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.28) by $0.52. Roku had a negative net margin of 20.54% and a negative return on equity of 25.15%. The company had revenue of $847.20 million during the quarter, compared to analysts’ expectations of $774.65 million. During the same quarter in the prior year, the company earned ($0.82) EPS. Roku’s revenue was up 10.9% compared to the same quarter last year. As a group, equities research analysts expect that Roku, Inc. will post -5.13 EPS for the current year.

Roku Company Profile

Roku, Inc, together with its subsidiaries, operates a TV streaming platform. 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 company also provides digital advertising and related services, including the demand-side ad platform and content distribution services, such as subscription and transaction revenue shares; media and entertainment promotional spending services; premium subscriptions services; video and display advertising services; and sells branded channel buttons on remote controls of streaming device.