Truist Financial Corp Lowers Stake in Roku, Inc. (NASDAQ:ROKU)

Truist Financial Corp lowered its stake in shares of Roku, Inc. (NASDAQ:ROKU) by 64.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,626 shares of the company’s stock after selling 6,563 shares during the quarter. Truist Financial Corp’s holdings in Roku were worth $232,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Brighton Jones LLC raised its position in Roku by 8.6% in the 1st quarter. Brighton Jones LLC now owns 1,874 shares of the company’s stock worth $235,000 after purchasing an additional 148 shares during the period. IHT Wealth Management LLC raised its position in Roku by 4.0% in the 1st quarter. IHT Wealth Management LLC now owns 4,060 shares of the company’s stock worth $509,000 after purchasing an additional 157 shares during the period. Mariner LLC raised its position in Roku by 0.7% in the 4th quarter. Mariner LLC now owns 22,264 shares of the company’s stock worth $906,000 after purchasing an additional 165 shares during the period. Advisors Asset Management Inc. raised its position in Roku by 8.5% in the 1st quarter. Advisors Asset Management Inc. now owns 2,222 shares of the company’s stock worth $278,000 after purchasing an additional 175 shares during the period. Finally, Equitable Holdings Inc. raised its position in Roku by 6.6% in the 1st quarter. Equitable Holdings Inc. now owns 3,041 shares of the company’s stock worth $381,000 after purchasing an additional 188 shares during the period. Hedge funds and other institutional investors own 69.21% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on ROKU. Pivotal Research upgraded shares of Roku from a “sell” rating to a “hold” rating and lifted their target price for the stock from $58.00 to $75.00 in a research report on Thursday, November 2nd. Morgan Stanley raised their price target on shares of Roku from $50.00 to $55.00 and gave the stock an “underweight” rating in a report on Monday, July 31st. Benchmark raised their price target on shares of Roku from $89.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, September 7th. DA Davidson raised their price target on shares of Roku from $100.00 to $102.00 and gave the stock a “buy” rating in a report on Thursday, September 7th. Finally, Wells Fargo & Company lifted their target price on shares of Roku from $63.00 to $84.00 and gave the company an “equal weight” rating in a research note on Friday, July 28th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Roku has an average rating of “Hold” and an average price target of $82.36.

Insider Activity

In other news, SVP Gilbert Fuchsberg sold 2,394 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $82.69, for a total transaction of $197,959.86. Following the completion of the transaction, the senior vice president now directly owns 35,266 shares of the company’s stock, valued at $2,916,145.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Matthew C. Banks sold 1,259 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $82.69, for a total transaction of $104,106.71. Following the completion of the sale, the chief accounting officer now directly owns 6,017 shares in the company, valued at $497,545.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Gilbert Fuchsberg sold 2,394 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $82.69, for a total transaction of $197,959.86. Following the completion of the transaction, the senior vice president now owns 35,266 shares of the company’s stock, valued at $2,916,145.54. The disclosure for this sale can be found here. Insiders sold 17,988 shares of company stock valued at $1,473,024 over the last three months. Insiders own 13.63% of the company’s stock.

Roku Stock Performance

Shares of Roku stock opened at $83.97 on Tuesday. The company has a 50-day simple moving average of $71.76 and a two-hundred day simple moving average of $70.13. Roku, Inc. has a 52-week low of $38.26 and a 52-week high of $98.44. The stock has a market capitalization of $11.97 billion, a PE ratio of -13.61 and a beta of 1.75.

Roku (NASDAQ:ROKU) last released its quarterly earnings data on Wednesday, November 1st. The company reported ($2.33) earnings per share for the quarter, missing the consensus estimate of ($1.91) by ($0.42). Roku had a negative net margin of 25.79% and a negative return on equity of 34.61%. The company had revenue of $912.02 million for the quarter, compared to analysts’ expectations of $856.98 million. During the same period in the previous year, the firm earned ($0.88) earnings per share. The firm’s revenue for the quarter was up 19.8% on a year-over-year basis. As a group, equities research analysts forecast that Roku, Inc. will post -4.99 EPS for the current fiscal year.

Roku 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.