ARK Investment Management LLC Sells 550,091 Shares of Roku, Inc. (NASDAQ:ROKU)

ARK Investment Management LLC trimmed its stake in shares of Roku, Inc. (NASDAQ:ROKU) by 4.9% during the fourth quarter, HoldingsChannel reports. The fund owned 10,671,956 shares of the company’s stock after selling 550,091 shares during the period. Roku comprises about 6.6% of ARK Investment Management LLC’s investment portfolio, making the stock its 2nd largest position. ARK Investment Management LLC owned about 0.07% of Roku worth $793,353,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Synergy Financial Group LTD bought a new position in Roku in the fourth quarter valued at $220,000. IFP Advisors Inc grew its position in Roku by 19.2% in the fourth quarter. IFP Advisors Inc now owns 2,957 shares of the company’s stock valued at $220,000 after purchasing an additional 476 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in Roku in the fourth quarter valued at $1,143,000. Sigma Planning Corp grew its position in Roku by 8.2% in the fourth quarter. Sigma Planning Corp now owns 8,935 shares of the company’s stock valued at $664,000 after purchasing an additional 679 shares in the last quarter. Finally, Prakash Investment Advisors LLC bought a new position in Roku in the fourth quarter valued at $208,000. 86.30% of the stock is currently owned by institutional investors and hedge funds.

Roku Stock Performance

Shares of ROKU opened at $85.76 on Wednesday. Roku, Inc. has a 52 week low of $48.33 and a 52 week high of $104.96. The firm has a market cap of $12.52 billion, a P/E ratio of -96.36 and a beta of 2.05. The firm’s 50-day simple moving average is $81.88 and its 200 day simple moving average is $75.77.

Roku (NASDAQ:ROKU) last posted its quarterly earnings data on Thursday, February 13th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.20. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.15 billion. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. As a group, equities analysts forecast that Roku, Inc. will post -0.3 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Benchmark raised their target price on shares of Roku from $100.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Wedbush reissued an “outperform” rating and issued a $100.00 price objective on shares of Roku in a research report on Monday, February 10th. JMP Securities boosted their price objective on shares of Roku from $95.00 to $115.00 and gave the stock a “market outperform” rating in a research note on Friday, February 14th. Moffett Nathanson lowered shares of Roku from a “neutral” rating to a “sell” rating and set a $55.00 price objective on the stock. in a research note on Friday, January 10th. Finally, Bank of America boosted their price objective on shares of Roku from $90.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $96.00.

Insider Buying and Selling at Roku

In other Roku news, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $82.64, for a total value of $2,066,000.00. Following the completion of the sale, the chief executive officer now owns 26,538 shares of the company’s stock, valued at $2,193,100.32. The trade was a 48.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Dan Jedda sold 2,000 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $99.95, for a total transaction of $199,900.00. Following the completion of the sale, the chief financial officer now directly owns 56,555 shares of the company’s stock, valued at $5,652,672.25. This represents a 3.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 109,421 shares of company stock valued at $9,660,786 in the last quarter. Company insiders own 13.98% of the company’s stock.

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.