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

Daiwa Securities Group Inc. decreased its holdings in shares of Roku, Inc. (NASDAQ:ROKU) by 21.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,688 shares of the company’s stock after selling 10,001 shares during the period. Daiwa Securities Group Inc.’s holdings in Roku were worth $2,199,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in ROKU. Quarry LP raised its position in Roku by 160.2% during the fourth quarter. Quarry LP now owns 432 shares of the company’s stock worth $40,000 after acquiring an additional 266 shares during the period. Benjamin Edwards Inc. increased its stake in shares of Roku by 43.5% during the first quarter. Benjamin Edwards Inc. now owns 617 shares of the company’s stock worth $40,000 after purchasing an additional 187 shares in the last quarter. Geneos Wealth Management Inc. raised its position in shares of Roku by 835.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 683 shares of the company’s stock worth $45,000 after purchasing an additional 610 shares during the last quarter. Natixis purchased a new position in Roku in the 1st quarter valued at about $53,000. Finally, Versant Capital Management Inc boosted its holdings in Roku by 706.2% in the 2nd quarter. Versant Capital Management Inc now owns 911 shares of the company’s stock worth $55,000 after buying an additional 798 shares during the last quarter. Institutional investors and hedge funds own 86.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ROKU. Wolfe Research raised Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 target price for the company in a report on Thursday. Benchmark reissued a “buy” rating and issued a $105.00 price objective on shares of Roku in a research note on Thursday. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 target price on shares of Roku in a research note on Friday. Bank of America decreased their price target on shares of Roku from $85.00 to $75.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Finally, Wells Fargo & Company raised shares of Roku from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $50.00 to $72.00 in a research note on Thursday, September 5th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $78.25.

Insider Activity

In related news, insider Gilbert Fuchsberg sold 1,693 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $64.39, for a total transaction of $109,012.27. Following the completion of the transaction, the insider now owns 38,602 shares of the company’s stock, valued at approximately $2,485,582.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Roku news, insider Charles Collier sold 15,454 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $75.00, for a total transaction of $1,159,050.00. Following the sale, the insider now directly owns 200 shares in the company, valued at $15,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gilbert Fuchsberg sold 1,693 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $64.39, for a total transaction of $109,012.27. Following the completion of the transaction, the insider now directly owns 38,602 shares of the company’s stock, valued at approximately $2,485,582.78. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,945 shares of company stock valued at $3,389,805. Company insiders own 13.98% of the company’s stock.

Roku Stock Up 0.8 %

NASDAQ:ROKU opened at $74.69 on Friday. Roku, Inc. has a 52 week low of $48.33 and a 52 week high of $108.84. The stock’s fifty day moving average is $61.63 and its two-hundred day moving average is $60.66. The company has a market capitalization of $10.81 billion, a P/E ratio of -18.72 and a beta of 2.06.

Roku (NASDAQ:ROKU) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.21. The firm had revenue of $968.18 million for the quarter, compared to analyst estimates of $937.78 million. Roku had a negative net margin of 13.16% and a negative return on equity of 21.03%. Roku’s revenue was up 14.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.76) EPS. Sell-side analysts anticipate that Roku, Inc. will post -1.45 earnings per share for the current fiscal year.

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.