Tidal Investments LLC Has $578,000 Stock Holdings in Roku, Inc. (NASDAQ:ROKU)

Tidal Investments LLC cut its holdings in shares of Roku, Inc. (NASDAQ:ROKU) by 88.8% in the 3rd quarter, Holdings Channel reports. The firm owned 7,748 shares of the company’s stock after selling 61,379 shares during the period. Tidal Investments LLC’s holdings in Roku were worth $578,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Sender Co & Partners Inc. bought a new stake in shares of Roku during the 3rd quarter worth $827,000. M&T Bank Corp raised its stake in Roku by 19.1% during the third quarter. M&T Bank Corp now owns 7,024 shares of the company’s stock worth $525,000 after acquiring an additional 1,126 shares in the last quarter. Raelipskie Partnership bought a new position in shares of Roku in the third quarter worth about $32,000. Nomura Asset Management Co. Ltd. boosted its stake in shares of Roku by 14.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 36,420 shares of the company’s stock valued at $2,719,000 after purchasing an additional 4,500 shares in the last quarter. Finally, MML Investors Services LLC grew its holdings in shares of Roku by 9.8% during the 3rd quarter. MML Investors Services LLC now owns 10,592 shares of the company’s stock valued at $791,000 after purchasing an additional 948 shares during the last quarter. Institutional investors and hedge funds own 86.30% of the company’s stock.

Roku Stock Up 2.8 %

Shares of ROKU stock opened at $80.59 on Monday. The firm has a 50 day moving average of $75.32 and a 200-day moving average of $67.85. The company has a market cap of $11.70 billion, a price-to-earnings ratio of -67.16 and a beta of 2.06. Roku, Inc. has a 52 week low of $48.33 and a 52 week high of $99.80.

Roku (NASDAQ:ROKU) last posted its quarterly earnings results on Wednesday, October 30th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.29. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Roku had a negative net margin of 4.42% and a negative return on equity of 7.22%. The business’s quarterly revenue was up 16.5% on a year-over-year basis. During the same period last year, the company posted ($2.33) earnings per share. Analysts anticipate that Roku, Inc. will post -1.1 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $77.20, for a total transaction of $1,930,000.00. Following the completion of the sale, the chief executive officer now directly owns 5,020 shares of the company’s stock, valued at $387,544. The trade was a 83.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Dan Jedda sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $76.25, for a total transaction of $76,250.00. Following the completion of the transaction, the chief financial officer now directly owns 53,267 shares in the company, valued at approximately $4,061,608.75. The trade was a 1.84 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 73,096 shares of company stock worth $5,661,223. Corporate insiders own 13.98% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on ROKU. Rosenblatt Securities raised their target price on shares of Roku from $61.00 to $86.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Benchmark reaffirmed a “buy” rating and issued a $105.00 target price on shares of Roku in a report on Thursday, September 12th. Robert W. Baird raised Roku from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $70.00 to $90.00 in a research note on Monday, November 18th. Wedbush reaffirmed an “outperform” rating and issued a $100.00 price objective (up previously from $85.00) on shares of Roku in a research note on Friday, December 6th. Finally, Piper Sandler lifted their target price on shares of Roku from $60.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $83.81.

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.