Dakota Wealth Management Sells 29,791 Shares of Roku, Inc. $ROKU

Dakota Wealth Management lowered its stake in Roku, Inc. (NASDAQ:ROKU) by 73.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,523 shares of the company’s stock after selling 29,791 shares during the quarter. Dakota Wealth Management’s holdings in Roku were worth $1,054,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. CWM LLC lifted its stake in Roku by 345.4% in the 3rd quarter. CWM LLC now owns 84,010 shares of the company’s stock worth $8,412,000 after purchasing an additional 65,150 shares in the last quarter. Accurate Wealth Management LLC bought a new stake in shares of Roku in the third quarter worth about $1,115,000. AGF Management Ltd. purchased a new stake in shares of Roku in the third quarter worth about $15,023,000. Monetta Financial Services Inc. boosted its stake in Roku by 50.0% during the second quarter. Monetta Financial Services Inc. now owns 15,000 shares of the company’s stock valued at $1,318,000 after buying an additional 5,000 shares during the last quarter. Finally, Convergence Investment Partners LLC bought a new position in Roku during the third quarter valued at approximately $2,492,000. 86.30% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Anthony J. Wood sold 50,000 shares of the stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $90.79, for a total transaction of $4,539,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Matthew C. Banks sold 729 shares of the firm’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $109.04, for a total value of $79,490.16. Following the completion of the sale, the chief accounting officer directly owned 5,825 shares of the company’s stock, valued at approximately $635,158. This represents a 11.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 219,710 shares of company stock worth $22,761,608 over the last ninety days. 13.98% of the stock is currently owned by corporate insiders.

Roku Stock Performance

ROKU opened at $93.47 on Friday. The stock’s 50 day moving average price is $100.75 and its 200-day moving average price is $99.05. Roku, Inc. has a one year low of $52.43 and a one year high of $116.66. The stock has a market cap of $13.78 billion, a price-to-earnings ratio of 163.99 and a beta of 1.99.

Roku (NASDAQ:ROKU) last announced its quarterly earnings data on Thursday, February 12th. The company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.25. The company had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.35 billion. Roku had a net margin of 1.87% and a return on equity of 3.40%. The firm’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter last year, the business posted ($0.24) EPS. As a group, analysts predict that Roku, Inc. will post -0.3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ROKU. Piper Sandler reaffirmed an “overweight” rating and set a $140.00 price objective (up from $135.00) on shares of Roku in a report on Friday, February 13th. Arete Research set a $132.00 price target on shares of Roku and gave the company a “buy” rating in a research note on Monday, January 5th. Weiss Ratings raised shares of Roku from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Tuesday, February 17th. Moffett Nathanson restated a “neutral” rating and issued a $100.00 target price on shares of Roku in a report on Friday, February 13th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $110.00 price target on shares of Roku in a report on Friday, February 13th. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $123.96.

About Roku

Roku, Inc (NASDAQ: ROKU) is a technology company that develops and operates a proprietary streaming platform designed to deliver entertainment content to consumers via internet-connected devices and smart televisions. Since its inception in 2002 in California, Roku has focused on simplifying access to streaming services for viewers worldwide. The company’s platform enables users to discover, access and manage a wide array of over-the-top content from major streaming services, free ad-supported channels and niche providers.

At the core of Roku’s product lineup are a range of streaming players and sticks, which connect to televisions via HDMI and deliver the Roku OS experience.