Daiwa Securities Group Inc. Cuts Position in Roku, Inc. (NASDAQ:ROKU)

Daiwa Securities Group Inc. lessened its holdings in Roku, Inc. (NASDAQ:ROKU) by 26.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,137 shares of the company’s stock after selling 3,312 shares during the period. Daiwa Securities Group Inc.’s holdings in Roku were worth $837,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Rakuten Securities Inc. purchased a new stake in shares of Roku in the fourth quarter valued at approximately $75,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Roku by 19.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,413 shares of the company’s stock valued at $2,146,000 after acquiring an additional 3,829 shares during the last quarter. SVB Wealth LLC lifted its holdings in Roku by 89.7% in the fourth quarter. SVB Wealth LLC now owns 10,011 shares of the company’s stock valued at $918,000 after acquiring an additional 4,735 shares during the last quarter. Vontobel Holding Ltd. lifted its holdings in Roku by 32.4% in the fourth quarter. Vontobel Holding Ltd. now owns 79,771 shares of the company’s stock valued at $7,312,000 after acquiring an additional 19,543 shares during the last quarter. Finally, Granite Bay Wealth Management LLC lifted its holdings in Roku by 8.1% in the fourth quarter. Granite Bay Wealth Management LLC now owns 19,152 shares of the company’s stock valued at $1,602,000 after acquiring an additional 1,432 shares during the last quarter. Hedge funds and other institutional investors own 86.30% of the company’s stock.

Roku Stock Performance

ROKU stock opened at $62.81 on Friday. The stock has a market capitalization of $9.01 billion, a P/E ratio of -12.51 and a beta of 1.66. The company has a 50 day moving average price of $63.11 and a two-hundred day moving average price of $78.59. Roku, Inc. has a one year low of $51.62 and a one year high of $108.84.

Roku (NASDAQ:ROKU) last announced its quarterly earnings results on Thursday, February 15th. The company reported ($0.55) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.65) by $0.10. The company had revenue of $984.40 million for the quarter, compared to analyst estimates of $967.72 million. Roku had a negative net margin of 20.36% and a negative return on equity of 29.21%. Roku’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same quarter last year, the business earned ($1.70) EPS. Research analysts forecast that Roku, Inc. will post -2.12 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have commented on ROKU shares. Wells Fargo & Company decreased their price target on Roku from $51.00 to $45.00 and set an “underweight” rating on the stock in a research note on Friday, April 12th. Wedbush decreased their price target on Roku from $120.00 to $80.00 and set an “outperform” rating on the stock in a research note on Friday, April 19th. Benchmark restated a “buy” rating and set a $115.00 price target on shares of Roku in a research note on Friday, April 19th. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price objective on shares of Roku in a research note on Wednesday, February 21st. Finally, Pivotal Research reduced their price objective on Roku from $85.00 to $75.00 and set a “hold” rating on the stock in a research note on Friday, February 16th. Five equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $84.76.

Insider Buying and Selling at Roku

In other Roku news, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction on Monday, February 12th. The shares were sold at an average price of $98.64, for a total value of $2,466,000.00. Following the transaction, the chief executive officer now owns 141,221 shares in the company, valued at approximately $13,930,039.44. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Charles Collier sold 12,277 shares of Roku stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $65.06, for a total transaction of $798,741.62. Following the transaction, the insider now owns 4,292 shares in the company, valued at approximately $279,237.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction on Monday, February 12th. The shares were sold at an average price of $98.64, for a total transaction of $2,466,000.00. Following the transaction, the chief executive officer now owns 141,221 shares in the company, valued at approximately $13,930,039.44. The disclosure for this sale can be found here. Insiders have sold a total of 54,545 shares of company stock worth $4,364,035 in the last quarter. 13.63% of the stock is owned by insiders.

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.