Arkadios Wealth Advisors Has $254,000 Stock Holdings in Roku, Inc. (NASDAQ:ROKU)

Arkadios Wealth Advisors reduced its holdings in shares of Roku, Inc. (NASDAQ:ROKU) by 29.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,413 shares of the company’s stock after selling 1,459 shares during the quarter. Arkadios Wealth Advisors’ holdings in Roku were worth $254,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. FMR LLC boosted its stake in Roku by 1.7% during the 3rd quarter. FMR LLC now owns 14,570,372 shares of the company’s stock valued at $1,087,824,000 after purchasing an additional 244,793 shares during the last quarter. Holocene Advisors LP purchased a new position in shares of Roku during the third quarter valued at approximately $129,015,000. Westfield Capital Management Co. LP grew its holdings in Roku by 126.1% during the third quarter. Westfield Capital Management Co. LP now owns 1,535,576 shares of the company’s stock worth $114,646,000 after buying an additional 856,401 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Roku by 3.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 955,969 shares of the company’s stock valued at $71,373,000 after buying an additional 30,038 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its stake in Roku by 352.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 651,658 shares of the company’s stock valued at $48,653,000 after acquiring an additional 507,643 shares in the last quarter. 86.30% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on ROKU. Robert W. Baird raised shares of Roku from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $70.00 to $90.00 in a research report on Monday, November 18th. JMP Securities initiated coverage on Roku in a report on Tuesday. They issued a “mkt outperform” rating and a $95.00 target price for the company. Piper Sandler lifted their price target on Roku from $60.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Needham & Company LLC restated a “buy” rating and issued a $100.00 price objective on shares of Roku in a research note on Tuesday, January 7th. Finally, Bank of America raised their target price on Roku from $75.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $83.18.

Insider Activity at Roku

In other Roku news, CFO Dan Jedda sold 1,000 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $75.00, for a total transaction of $75,000.00. Following the completion of the sale, the chief financial officer now owns 65,555 shares of the company’s stock, valued at $4,916,625. This represents a 1.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Matthew C. Banks sold 8,693 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $71.44, for a total transaction of $621,027.92. Following the completion of the sale, the chief accounting officer now directly owns 7,264 shares in the company, valued at approximately $518,940.16. This trade represents a 54.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 73,095 shares of company stock worth $5,726,218 in the last ninety days. 13.98% of the stock is owned by company insiders.

Roku Stock Performance

ROKU stock opened at $83.78 on Friday. Roku, Inc. has a one year low of $48.33 and a one year high of $99.80. The company has a market capitalization of $12.16 billion, a PE ratio of -69.82 and a beta of 2.05. The company’s 50 day moving average price is $76.87 and its two-hundred day moving average price is $71.06.

Roku (NASDAQ:ROKU) last posted its quarterly earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.29. Roku had a negative net margin of 4.42% and a negative return on equity of 7.22%. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the previous year, the firm posted ($2.33) earnings per share. The firm’s revenue for the quarter was up 16.5% on a year-over-year basis. On average, research analysts predict that Roku, Inc. will post -1.09 EPS for the current year.

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.