Nikko Asset Management Americas Inc. Cuts Stock Holdings in Roku, Inc. (NASDAQ:ROKU)

Nikko Asset Management Americas Inc. reduced its stake in Roku, Inc. (NASDAQ:ROKU) by 13.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 5,357,023 shares of the company’s stock after selling 850,846 shares during the quarter. Roku makes up 4.3% of Nikko Asset Management Americas Inc.’s investment portfolio, making the stock its 7th largest holding. Nikko Asset Management Americas Inc.’s holdings in Roku were worth $398,027,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Apollon Wealth Management LLC raised its stake in Roku by 54.5% during the 3rd quarter. Apollon Wealth Management LLC now owns 5,690 shares of the company’s stock valued at $425,000 after purchasing an additional 2,006 shares during the last quarter. Harbour Investments Inc. lifted its stake in shares of Roku by 12.4% in the third quarter. Harbour Investments Inc. now owns 3,489 shares of the company’s stock valued at $260,000 after buying an additional 385 shares during the period. KBC Group NV grew its position in Roku by 42.1% during the third quarter. KBC Group NV now owns 19,801 shares of the company’s stock worth $1,479,000 after buying an additional 5,871 shares in the last quarter. Swiss National Bank increased its stake in Roku by 1.3% during the third quarter. Swiss National Bank now owns 376,800 shares of the company’s stock valued at $28,132,000 after acquiring an additional 5,000 shares during the period. Finally, Aviance Capital Partners LLC raised its holdings in Roku by 68.0% in the 3rd quarter. Aviance Capital Partners LLC now owns 13,356 shares of the company’s stock valued at $997,000 after acquiring an additional 5,405 shares in the last quarter. 86.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Roku

In related news, CAO Matthew C. Banks sold 1,906 shares of Roku stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $80.36, for a total value of $153,166.16. Following the sale, the chief accounting officer now owns 7,256 shares of the company’s stock, valued at approximately $583,092.16. This trade represents a 20.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $79.77, for a total value of $1,994,250.00. Following the transaction, the chief executive officer now directly owns 26,538 shares of the company’s stock, valued at approximately $2,116,936.26. This trade represents a 48.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 92,308 shares of company stock valued at $8,213,436 in the last 90 days. 13.98% of the stock is currently owned by company insiders.

Roku Trading Up 0.2 %

NASDAQ:ROKU opened at $67.78 on Monday. The stock has a market cap of $9.89 billion, a price-to-earnings ratio of -76.16 and a beta of 2.12. The stock has a 50-day moving average price of $81.73 and a two-hundred day moving average price of $77.12. Roku, Inc. has a 1 year low of $48.33 and a 1 year high of $104.96.

Roku (NASDAQ:ROKU) last announced its quarterly earnings results on Thursday, February 13th. The company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.20. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.15 billion. Sell-side analysts forecast that Roku, Inc. will post -0.3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on ROKU shares. Wedbush restated an “outperform” rating and issued a $100.00 target price on shares of Roku in a research note on Monday, February 10th. Needham & Company LLC reissued a “buy” rating and issued a $100.00 target price on shares of Roku in a research note on Tuesday, January 7th. Pivotal Research raised shares of Roku from a “hold” rating to a “buy” rating and increased their price target for the stock from $65.00 to $125.00 in a research report on Friday, February 14th. Loop Capital lifted their price objective on Roku from $70.00 to $80.00 and gave the company a “hold” rating in a report on Monday, December 9th. Finally, JPMorgan Chase & Co. increased their target price on Roku from $92.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Roku currently has an average rating of “Moderate Buy” and an average price target of $96.71.

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.