ARK Investment Management LLC Has $873.42 Million Position in Roku, Inc. (NASDAQ:ROKU)

ARK Investment Management LLC decreased its position in Roku, Inc. (NASDAQ:ROKU) by 8.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,528,872 shares of the company’s stock after selling 910,941 shares during the quarter. Roku makes up 5.2% of ARK Investment Management LLC’s portfolio, making the stock its 5th biggest position. ARK Investment Management LLC owned approximately 0.07% of Roku worth $873,416,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Creative Financial Designs Inc. ADV bought a new position in Roku in the fourth quarter worth $29,000. Covestor Ltd raised its holdings in Roku by 693.2% in the first quarter. Covestor Ltd now owns 349 shares of the company’s stock worth $44,000 after purchasing an additional 305 shares in the last quarter. Quarry LP bought a new position in Roku in the second quarter worth $25,000. Federated Hermes Inc. bought a new position in Roku in the third quarter worth $37,000. Finally, Headinvest LLC bought a new position in Roku in the third quarter worth $42,000. Institutional investors own 86.30% of the company’s stock.

Analyst Upgrades and Downgrades

ROKU has been the subject of several analyst reports. Wells Fargo & Company downgraded Roku from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $77.00 to $51.00 in a report on Tuesday, February 27th. Citigroup reduced their price objective on Roku from $110.00 to $75.00 and set a “neutral” rating for the company in a report on Wednesday, February 21st. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price objective on shares of Roku in a report on Wednesday, February 21st. Seaport Res Ptn downgraded Roku from a “neutral” rating to a “sell” rating in a report on Monday, December 18th. Finally, Pivotal Research reduced their price objective on Roku from $85.00 to $75.00 and set a “hold” rating for the company in a report on Friday, February 16th. Five analysts have rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $86.00.

Roku Price Performance

Shares of ROKU opened at $65.58 on Thursday. The business’s 50 day moving average is $75.66 and its 200 day moving average is $80.33. Roku, Inc. has a 12-month low of $51.62 and a 12-month high of $108.84.

Roku (NASDAQ:ROKU) last issued its earnings results on Thursday, February 15th. The company reported ($0.55) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.65) by $0.10. The company had revenue of $984.40 million for the quarter, compared to the consensus estimate of $967.72 million. Roku had a negative return on equity of 29.21% and a negative net margin of 20.36%. The firm’s quarterly revenue was up 13.5% on a year-over-year basis. During the same quarter last year, the company earned ($1.70) EPS. As a group, sell-side analysts anticipate that Roku, Inc. will post -2.16 earnings per share for the current fiscal year.

Insider Activity at Roku

In other Roku news, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $90.50, for a total value of $2,262,500.00. Following the sale, the chief executive officer now owns 141,221 shares of the company’s stock, valued at approximately $12,780,500.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Roku news, insider Charles Collier sold 12,277 shares of Roku stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $65.06, for a total value of $798,741.62. Following the sale, the insider now owns 4,292 shares of the company’s stock, valued at approximately $279,237.52. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $90.50, for a total value of $2,262,500.00. Following the completion of the sale, the chief executive officer now directly owns 141,221 shares in the company, valued at approximately $12,780,500.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 79,543 shares of company stock valued at $6,631,587. 13.63% of the stock is owned by company insiders.

Roku Company Profile

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.