Beacon Investment Advisory Services Inc. Cuts Stake in Roku, Inc. (NASDAQ:ROKU)

Beacon Investment Advisory Services Inc. lessened its holdings in Roku, Inc. (NASDAQ:ROKU) by 4.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,607 shares of the company’s stock after selling 225 shares during the period. Beacon Investment Advisory Services Inc.’s holdings in Roku were worth $342,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. GS Investments Inc. raised its stake in shares of Roku by 33.4% in the third quarter. GS Investments Inc. now owns 587 shares of the company’s stock valued at $44,000 after acquiring an additional 147 shares in the last quarter. PFG Investments LLC raised its position in Roku by 3.7% in the 3rd quarter. PFG Investments LLC now owns 4,157 shares of the company’s stock valued at $310,000 after purchasing an additional 150 shares in the last quarter. True Vision MN LLC boosted its stake in shares of Roku by 3.1% in the 3rd quarter. True Vision MN LLC now owns 5,018 shares of the company’s stock valued at $375,000 after buying an additional 152 shares during the period. Sequoia Financial Advisors LLC grew its position in shares of Roku by 4.5% during the third quarter. Sequoia Financial Advisors LLC now owns 4,721 shares of the company’s stock worth $352,000 after buying an additional 202 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Roku by 11.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,207 shares of the company’s stock worth $165,000 after buying an additional 222 shares during the period. Institutional investors and hedge funds own 86.30% of the company’s stock.

Roku Stock Up 5.3 %

Shares of ROKU stock opened at $83.78 on Friday. Roku, Inc. has a 52-week low of $48.33 and a 52-week high of $99.80. The stock’s 50-day moving average price is $76.87 and its 200 day moving average price is $71.06. The stock has a market capitalization of $12.16 billion, a PE ratio of -69.82 and a beta of 2.05.

Roku (NASDAQ:ROKU) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.29. Roku had a negative return on equity of 7.22% and a negative net margin of 4.42%. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the prior year, the business earned ($2.33) earnings per share. The company’s quarterly revenue was up 16.5% compared to the same quarter last year. Analysts expect that Roku, Inc. will post -1.09 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on ROKU shares. Robert W. Baird upgraded shares of Roku from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $70.00 to $90.00 in a report on Monday, November 18th. Wells Fargo & Company boosted their target price on shares of Roku from $72.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Piper Sandler raised their price target on Roku from $60.00 to $75.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. JMP Securities started coverage on Roku in a report on Tuesday. They set a “mkt outperform” rating and a $95.00 price target for the company. Finally, Jefferies Financial Group dropped their price objective on Roku from $60.00 to $55.00 and set an “underperform” rating on the stock in a report on Friday, November 1st. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Roku presently has a consensus rating of “Moderate Buy” and an average price target of $83.18.

Insider Transactions at Roku

In related news, insider Charles Collier sold 10,771 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $71.14, for a total transaction of $766,248.94. Following the transaction, the insider now owns 3,790 shares of the company’s stock, valued at $269,620.60. This represents a 73.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Dan Jedda sold 1,000 shares of the firm’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $77.18, for a total value of $77,180.00. Following the completion of the sale, the chief financial officer now directly owns 63,555 shares of the company’s stock, valued at approximately $4,905,174.90. This trade represents a 1.55 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 73,095 shares of company stock worth $5,726,218. Company insiders own 13.98% of the company’s stock.

Roku Profile

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.