Roku, Inc. (NASDAQ:ROKU) Shares Sold by Shellback Capital LP

Shellback Capital LP cut its holdings in Roku, Inc. (NASDAQ:ROKU) by 66.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,000 shares of the company’s stock after selling 30,000 shares during the quarter. Shellback Capital LP’s holdings in Roku were worth $899,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. ARK Investment Management LLC grew its stake in shares of Roku by 1.3% during the 2nd quarter. ARK Investment Management LLC now owns 12,716,432 shares of the company’s stock worth $762,096,000 after purchasing an additional 159,785 shares during the period. Vanguard Group Inc. boosted its holdings in Roku by 0.8% during the first quarter. Vanguard Group Inc. now owns 11,946,605 shares of the company’s stock worth $778,560,000 after buying an additional 92,658 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in Roku by 24.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,349,067 shares of the company’s stock worth $478,939,000 after buying an additional 1,457,925 shares during the period. Nikko Asset Management Americas Inc. increased its holdings in Roku by 25.8% in the first quarter. Nikko Asset Management Americas Inc. now owns 7,091,891 shares of the company’s stock valued at $462,108,000 after buying an additional 1,455,408 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Roku by 5.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 500,794 shares of the company’s stock valued at $30,013,000 after acquiring an additional 24,926 shares during the period. Institutional investors and hedge funds own 86.30% of the company’s stock.

Roku Price Performance

NASDAQ ROKU opened at $73.70 on Friday. The company has a market cap of $10.62 billion, a P/E ratio of -18.47 and a beta of 2.06. Roku, Inc. has a 12 month low of $48.33 and a 12 month high of $108.84. The company has a 50-day moving average of $64.19 and a 200-day moving average of $61.48.

Roku (NASDAQ:ROKU) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.21. The firm had revenue of $968.18 million during the quarter, compared to the consensus estimate of $937.78 million. Roku had a negative return on equity of 21.03% and a negative net margin of 13.16%. The firm’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.76) earnings per share. As a group, equities research analysts anticipate that Roku, Inc. will post -1.44 EPS for the current year.

Insider Buying and Selling at Roku

In other news, insider Charles Collier sold 3,590 shares of the stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $65.00, for a total value of $233,350.00. Following the completion of the sale, the insider now owns 12,064 shares of the company’s stock, valued at $784,160. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Roku news, insider Gilbert Fuchsberg sold 1,693 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $64.39, for a total value of $109,012.27. Following the transaction, the insider now owns 38,602 shares in the company, valued at approximately $2,485,582.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Charles Collier sold 3,590 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $65.00, for a total value of $233,350.00. Following the completion of the transaction, the insider now owns 12,064 shares in the company, valued at approximately $784,160. The disclosure for this sale can be found here. Insiders have sold a total of 46,945 shares of company stock valued at $3,465,135 over the last ninety days. Corporate insiders own 13.98% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on ROKU. Needham & Company LLC restated a “buy” rating and issued a $100.00 price target on shares of Roku in a report on Friday, September 13th. Bank of America dropped their price target on Roku from $85.00 to $75.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Wells Fargo & Company upgraded shares of Roku from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $50.00 to $72.00 in a research report on Thursday, September 5th. Benchmark restated a “buy” rating and set a $105.00 target price on shares of Roku in a report on Thursday, September 12th. Finally, Wedbush restated an “outperform” rating and set a $75.00 target price on shares of Roku in a research report on Friday, August 2nd. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $79.10.

Roku 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.