Ethic Inc. Sells 1,057 Shares of Roku, Inc. (NASDAQ:ROKU)

Ethic Inc. cut its holdings in shares of Roku, Inc. (NASDAQ:ROKU) by 21.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,971 shares of the company’s stock after selling 1,057 shares during the period. Ethic Inc.’s holdings in Roku were worth $295,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Deutsche Bank AG grew its holdings in shares of Roku by 46.1% during the fourth quarter. Deutsche Bank AG now owns 331,682 shares of the company’s stock worth $24,657,000 after purchasing an additional 104,723 shares during the last quarter. Concentric Capital Strategies LP acquired a new position in Roku during the 4th quarter worth about $1,795,000. Corton Capital Inc. increased its position in Roku by 8.3% in the 4th quarter. Corton Capital Inc. now owns 4,880 shares of the company’s stock valued at $363,000 after acquiring an additional 372 shares in the last quarter. Cetera Investment Advisers raised its stake in shares of Roku by 6.3% in the fourth quarter. Cetera Investment Advisers now owns 43,085 shares of the company’s stock worth $3,203,000 after acquiring an additional 2,545 shares during the last quarter. Finally, Bridgefront Capital LLC acquired a new position in shares of Roku during the fourth quarter worth approximately $330,000. 86.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ROKU. UBS Group lowered their price target on shares of Roku from $90.00 to $72.00 and set a “neutral” rating for the company in a report on Tuesday, April 15th. Citizens Jmp upgraded Roku to a “strong-buy” rating in a research report on Tuesday, January 21st. FBN Securities initiated coverage on Roku in a research note on Friday, March 28th. They set an “outperform” rating and a $93.00 price target on the stock. Jefferies Financial Group upgraded Roku from an “underperform” rating to a “hold” rating and lifted their price objective for the stock from $55.00 to $100.00 in a research report on Thursday, February 20th. Finally, Pivotal Research cut their target price on shares of Roku from $125.00 to $100.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $87.93.

Insider Transactions at Roku

In other news, insider Charles Collier sold 7,181 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $78.25, for a total value of $561,913.25. Following the completion of the transaction, the insider now owns 7,380 shares in the company, valued at $577,485. This trade represents a 49.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Dan Jedda sold 1,000 shares of the company’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $75.00, for a total value of $75,000.00. Following the sale, the chief financial officer now owns 68,843 shares in the company, valued at $5,163,225. The trade was a 1.43% decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,111 shares of company stock valued at $1,365,112 over the last three months. Company insiders own 13.98% of the company’s stock.

Roku Stock Performance

NASDAQ ROKU opened at $71.37 on Friday. The stock has a market cap of $10.42 billion, a price-to-earnings ratio of -80.19 and a beta of 2.06. The business has a 50 day simple moving average of $65.92 and a 200 day simple moving average of $74.43. Roku, Inc. has a 52-week low of $48.33 and a 52-week high of $104.96.

Roku (NASDAQ:ROKU) last released its quarterly earnings results on Thursday, May 1st. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.08. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. The business’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.35) earnings per share. On average, analysts predict that Roku, Inc. will post -0.3 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.