Invesco Ltd. Trims Holdings in Roku, Inc. (NASDAQ:ROKU)

Invesco Ltd. cut its position in shares of Roku, Inc. (NASDAQ:ROKU) by 19.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 256,421 shares of the company’s stock after selling 60,350 shares during the quarter. Invesco Ltd.’s holdings in Roku were worth $19,062,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. MML Investors Services LLC grew its stake in Roku by 9.8% in the 3rd quarter. MML Investors Services LLC now owns 10,592 shares of the company’s stock worth $791,000 after acquiring an additional 948 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Roku by 14.5% during the third quarter. Franklin Resources Inc. now owns 82,170 shares of the company’s stock worth $6,275,000 after purchasing an additional 10,416 shares during the last quarter. Everence Capital Management Inc. purchased a new stake in shares of Roku in the fourth quarter valued at $350,000. Oak Thistle LLC acquired a new position in Roku in the fourth quarter valued at $823,000. Finally, Avanza Fonder AB purchased a new position in Roku during the fourth quarter worth about $3,499,000. Institutional investors and hedge funds own 86.30% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $100.40, for a total transaction of $2,510,000.00. Following the completion of the transaction, the chief executive officer now directly owns 26,538 shares of the company’s stock, valued at $2,664,415.20. This trade represents a 48.51 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Dan Jedda sold 1,000 shares of the stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $75.00, for a total transaction of $75,000.00. Following the transaction, the chief financial officer now owns 68,843 shares of the company’s stock, valued at $5,163,225. The trade was a 1.43 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,905 shares of company stock valued at $6,560,876. Company insiders own 13.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Compass Point initiated coverage on shares of Roku in a research note on Sunday, March 23rd. They set a “buy” rating for the company. Citigroup raised shares of Roku from a “neutral” rating to an “outperform” rating in a research report on Sunday, March 23rd. Rosenblatt Securities reiterated a “neutral” rating and issued a $86.00 price target on shares of Roku in a report on Thursday, February 13th. FBN Securities assumed coverage on Roku in a report on Friday, March 28th. They set an “outperform” rating and a $93.00 price objective for the company. Finally, UBS Group lowered their price target on Roku from $90.00 to $72.00 and set a “neutral” rating for the company in a research report on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $94.11.

Roku Price Performance

Shares of ROKU stock opened at $58.46 on Friday. The stock’s fifty day simple moving average is $74.07 and its 200 day simple moving average is $76.04. Roku, Inc. has a one year low of $48.33 and a one year high of $104.96. The firm has a market cap of $8.53 billion, a price-to-earnings ratio of -65.69 and a beta of 2.17.

Roku (NASDAQ:ROKU) last issued its quarterly earnings data on Thursday, February 13th. The company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.44) by $0.20. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. On average, research analysts anticipate that Roku, Inc. will post -0.3 earnings per share for the current 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.