Sumitomo Mitsui Trust Group Inc. Sells 763,119 Shares of Roku, Inc. $ROKU

Sumitomo Mitsui Trust Group Inc. cut its stake in Roku, Inc. (NASDAQ:ROKU) by 17.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,688,618 shares of the company’s stock after selling 763,119 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 2.50% of Roku worth $369,341,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. West Tower Group LLC grew its position in Roku by 128.6% during the 2nd quarter. West Tower Group LLC now owns 8,000 shares of the company’s stock valued at $703,000 after purchasing an additional 4,500 shares during the last quarter. CWM LLC grew its holdings in shares of Roku by 345.4% during the third quarter. CWM LLC now owns 84,010 shares of the company’s stock valued at $8,412,000 after buying an additional 65,150 shares during the last quarter. Diversified Trust Co increased its position in shares of Roku by 73.6% during the second quarter. Diversified Trust Co now owns 20,548 shares of the company’s stock valued at $1,806,000 after acquiring an additional 8,710 shares in the last quarter. ABLE Financial Group LLC raised its holdings in Roku by 40.4% in the 2nd quarter. ABLE Financial Group LLC now owns 25,342 shares of the company’s stock worth $2,227,000 after acquiring an additional 7,291 shares during the last quarter. Finally, Highland Capital Management LLC lifted its position in Roku by 153.2% in the 2nd quarter. Highland Capital Management LLC now owns 65,770 shares of the company’s stock valued at $5,781,000 after acquiring an additional 39,797 shares in the last quarter. 86.30% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Roku

In other news, CFO Dan Jedda sold 3,000 shares of the firm’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $107.44, for a total transaction of $322,320.00. Following the sale, the chief financial officer directly owned 90,267 shares in the company, valued at $9,698,286.48. This trade represents a 3.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gilbert Fuchsberg sold 3,250 shares of the company’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $108.78, for a total transaction of $353,535.00. Following the completion of the transaction, the insider directly owned 59,094 shares of the company’s stock, valued at $6,428,245.32. This represents a 5.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 318,282 shares of company stock valued at $34,335,889. Company insiders own 13.98% of the company’s stock.

Roku Stock Performance

NASDAQ:ROKU opened at $111.17 on Monday. The stock has a 50-day simple moving average of $104.14 and a two-hundred day simple moving average of $97.36. The firm has a market capitalization of $16.43 billion, a PE ratio of -555.82 and a beta of 1.95. Roku, Inc. has a 52-week low of $52.43 and a 52-week high of $116.66.

Roku (NASDAQ:ROKU) last posted its quarterly earnings data on Thursday, October 30th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.09. The firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Roku had a negative return on equity of 1.08% and a negative net margin of 0.61%.The business’s quarterly revenue was up 14.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.06) EPS. Equities analysts forecast that Roku, Inc. will post -0.3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ROKU shares. Jefferies Financial Group raised Roku from a “hold” rating to a “buy” rating and lifted their target price for the stock from $100.00 to $135.00 in a report on Thursday, December 11th. Citizens Jmp reiterated a “market outperform” rating and issued a $145.00 price objective on shares of Roku in a report on Tuesday, December 2nd. Wells Fargo & Company restated an “overweight” rating on shares of Roku in a research note on Monday, January 5th. Needham & Company LLC reiterated a “buy” rating and issued a $110.00 price target on shares of Roku in a research note on Wednesday, October 1st. Finally, Guggenheim boosted their price objective on shares of Roku from $110.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, December 4th. Twenty-three equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $118.12.

Roku Profile

Roku, Inc (NASDAQ: ROKU) is a technology company that develops and operates a proprietary streaming platform designed to deliver entertainment content to consumers via internet-connected devices and smart televisions. Since its inception in 2002 in California, Roku has focused on simplifying access to streaming services for viewers worldwide. The company’s platform enables users to discover, access and manage a wide array of over-the-top content from major streaming services, free ad-supported channels and niche providers.

At the core of Roku’s product lineup are a range of streaming players and sticks, which connect to televisions via HDMI and deliver the Roku OS experience.