Roku, Inc. $ROKU Shares Sold by Contrarius Group Holdings Ltd

Contrarius Group Holdings Ltd lowered its stake in shares of Roku, Inc. (NASDAQ:ROKU) by 19.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 104,002 shares of the company’s stock after selling 25,513 shares during the quarter. Roku makes up about 0.5% of Contrarius Group Holdings Ltd’s investment portfolio, making the stock its 26th largest holding. Contrarius Group Holdings Ltd’s holdings in Roku were worth $11,283,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in ROKU. Blue Trust Inc. increased its position in shares of Roku by 680.0% in the 4th quarter. Blue Trust Inc. now owns 234 shares of the company’s stock worth $25,000 after purchasing an additional 204 shares during the last quarter. Aventura Private Wealth LLC acquired a new stake in Roku during the fourth quarter valued at approximately $26,000. WPG Advisers LLC acquired a new stake in Roku during the fourth quarter valued at approximately $31,000. Rakuten Securities Inc. raised its stake in Roku by 55.6% during the second quarter. Rakuten Securities Inc. now owns 442 shares of the company’s stock valued at $39,000 after buying an additional 158 shares in the last quarter. Finally, National Bank of Canada FI acquired a new stake in Roku during the third quarter valued at approximately $51,000. Institutional investors and hedge funds own 86.30% of the company’s stock.

Roku Stock Performance

NASDAQ:ROKU opened at $122.26 on Monday. The firm has a market capitalization of $18.02 billion, a PE ratio of 91.93 and a beta of 2.06. The stock has a 50 day moving average of $115.32 and a 200-day moving average of $105.21. Roku, Inc. has a 52 week low of $73.91 and a 52 week high of $133.46.

Roku (NASDAQ:ROKU) last issued its earnings results on Thursday, April 30th. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.23. Roku had a return on equity of 7.64% and a net margin of 4.06%.The firm had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period last year, the company earned ($0.19) earnings per share. The firm’s revenue for the quarter was up 22.4% on a year-over-year basis. As a group, analysts predict that Roku, Inc. will post 2.41 EPS for the current fiscal year.

More Roku News

Here are the key news stories impacting Roku this week:

• Positive Sentiment: Roku continues to expand its free ad-supported streaming lineup, adding new channels including Sports Illustrated and FIFA Plus, plus four more free channels in June. That supports engagement on The Roku Channel and could improve ad inventory and viewing time. Article Title
• Positive Sentiment: The company also launched a $25 bundle pairing the Streaming Stick Plus with Fox One, which may help drive device sales and keep Roku’s ecosystem competitive. Article Title
• Positive Sentiment: Roku has been benefiting from a bullish narrative around its growing household reach and stronger live-sports positioning, which investors may see as supportive of future ad and platform revenue. Article Title

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ROKU. Citigroup restated a “market outperform” rating on shares of Roku in a research note on Thursday, May 28th. Guggenheim raised their price objective on Roku from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. Pivotal Research restated a “buy” rating and set a $160.00 price objective (up from $140.00) on shares of Roku in a research note on Friday, May 1st. Zacks Research cut Roku from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 14th. Finally, Benchmark raised their price objective on Roku from $130.00 to $160.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. Twenty-two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $145.29.

Insider Transactions at Roku

In related news, Director Neil D. Hunt sold 2,000 shares of Roku stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $129.09, for a total value of $258,180.00. Following the sale, the director directly owned 7,782 shares in the company, valued at $1,004,578.38. This trade represents a 20.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Charles Collier sold 7,067 shares of Roku stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $127.26, for a total transaction of $899,346.42. Following the completion of the sale, the insider owned 15,200 shares in the company, valued at approximately $1,934,352. This represents a 31.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 696,631 shares of company stock valued at $77,636,680 over the last three months. 13.45% of the stock is currently owned by company insiders.

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.