Entropy Technologies LP Has $523,000 Position in Roku, Inc. (NASDAQ:ROKU)

Entropy Technologies LP cut its holdings in Roku, Inc. (NASDAQ:ROKU) by 69.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,005 shares of the company’s stock after selling 15,870 shares during the period. Entropy Technologies LP’s holdings in Roku were worth $523,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. EverSource Wealth Advisors LLC increased its position in Roku by 123.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company’s stock valued at $40,000 after buying an additional 375 shares in the last quarter. Future Financial Wealth Managment LLC bought a new stake in shares of Roku during the third quarter worth about $43,000. Cedar Wealth Management LLC acquired a new stake in shares of Roku in the 2nd quarter worth about $48,000. Natixis acquired a new stake in shares of Roku in the 1st quarter worth about $53,000. Finally, Versant Capital Management Inc lifted its position in Roku by 706.2% in the 2nd quarter. Versant Capital Management Inc now owns 911 shares of the company’s stock valued at $55,000 after acquiring an additional 798 shares in the last quarter. 86.30% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ROKU has been the subject of several analyst reports. Jefferies Financial Group lowered their price objective on Roku from $60.00 to $55.00 and set an “underperform” rating for the company in a research note on Friday, November 1st. Wolfe Research raised Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 price target for the company in a research report on Thursday, September 12th. Rosenblatt Securities lifted their price objective on shares of Roku from $61.00 to $86.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Wedbush increased their target price on shares of Roku from $75.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Finally, Loop Capital boosted their price target on shares of Roku from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $83.95.

Insiders Place Their Bets

In other news, CFO Dan Jedda sold 1,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $76.25, for a total transaction of $76,250.00. Following the sale, the chief financial officer now directly owns 53,267 shares in the company, valued at $4,061,608.75. This represents a 1.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the completion of the transaction, the chief executive officer now owns 5,020 shares of the company’s stock, valued at $376,500. This trade represents a 83.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 69,776 shares of company stock worth $5,267,305 over the last 90 days. Corporate insiders own 13.98% of the company’s stock.

Roku Stock Performance

Shares of Roku stock opened at $68.87 on Friday. The stock has a market capitalization of $10.00 billion, a P/E ratio of -57.39 and a beta of 2.07. Roku, Inc. has a 52-week low of $48.33 and a 52-week high of $108.84. The stock’s 50-day simple moving average is $74.36 and its 200 day simple moving average is $64.65.

Roku (NASDAQ:ROKU) last posted its quarterly earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.35) by $0.29. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. Roku had a negative net margin of 4.42% and a negative return on equity of 7.22%. The company’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($2.33) earnings per share. Equities research analysts forecast that Roku, Inc. will post -1.1 EPS for the current fiscal year.

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.