Stratos Wealth Partners LTD. Cuts Position in Roku, Inc. $ROKU

Stratos Wealth Partners LTD. cut its stake in Roku, Inc. (NASDAQ:ROKU) by 71.1% in the 4th quarter, Holdings Channel reports. The fund owned 2,498 shares of the company’s stock after selling 6,154 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Roku were worth $271,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CWM LLC grew its position in Roku by 345.4% in the third quarter. CWM LLC now owns 84,010 shares of the company’s stock worth $8,412,000 after acquiring an additional 65,150 shares in the last quarter. Accurate Wealth Management LLC purchased a new position in Roku in the third quarter worth $1,115,000. AGF Management Ltd. purchased a new position in Roku in the third quarter worth $15,023,000. Convergence Investment Partners LLC purchased a new position in Roku in the third quarter worth $2,492,000. Finally, Holocene Advisors LP grew its position in Roku by 352.3% in the third quarter. Holocene Advisors LP now owns 1,650,448 shares of the company’s stock worth $165,259,000 after acquiring an additional 1,285,585 shares in the last quarter. 86.30% of the stock is currently owned by hedge funds and other institutional investors.

Roku Trading Up 0.8%

Shares of NASDAQ:ROKU opened at $103.32 on Tuesday. The stock’s 50-day moving average price is $93.92 and its 200-day moving average price is $99.57. Roku, Inc. has a 12-month low of $57.01 and a 12-month high of $116.66. The stock has a market capitalization of $15.23 billion, a P/E ratio of 181.27 and a beta of 2.00.

Roku (NASDAQ:ROKU) last announced its quarterly earnings data on Thursday, February 12th. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.25. Roku had a return on equity of 3.40% and a net margin of 1.87%.The firm had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.35 billion. During the same period last year, the firm earned ($0.24) earnings per share. The company’s revenue for the quarter was up 16.1% compared to the same quarter last year. As a group, research analysts predict that Roku, Inc. will post -0.3 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently issued reports on ROKU shares. Arete Research set a $132.00 target price on shares of Roku and gave the stock a “buy” rating in a research report on Monday, January 5th. Wells Fargo & Company boosted their price target on shares of Roku from $116.00 to $137.00 and gave the stock an “overweight” rating in a research note on Friday, February 13th. Bank of America raised their price objective on Roku from $115.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, January 12th. KeyCorp raised their price objective on Roku from $128.00 to $130.00 and gave the company an “overweight” rating in a research note on Friday, February 13th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Roku in a research note on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $127.79.

Insider Activity at Roku

In other news, CEO Anthony J. Wood sold 50,000 shares of the stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $99.68, for a total transaction of $4,984,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Neil D. Hunt sold 2,000 shares of the stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $95.54, for a total transaction of $191,080.00. Following the sale, the director owned 7,782 shares of the company’s stock, valued at approximately $743,492.28. This represents a 20.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 343,944 shares of company stock valued at $34,787,865 in the last quarter. 13.98% of the stock is currently owned by company insiders.

Roku Company 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.