Focused Wealth Management Inc Reduces Position in Roku, Inc. (NASDAQ:ROKU)

Focused Wealth Management Inc reduced its position in shares of Roku, Inc. (NASDAQ:ROKU) by 29.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,865 shares of the company’s stock after selling 2,485 shares during the period. Focused Wealth Management Inc’s holdings in Roku were worth $438,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of ROKU. PFG Investments LLC grew its stake in shares of 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 during the last quarter. Mcdonald Partners LLC boosted its holdings in shares of Roku by 0.9% in the second quarter. Mcdonald Partners LLC now owns 19,608 shares of the company’s stock valued at $1,175,000 after acquiring an additional 175 shares in the last quarter. Sequoia Financial Advisors LLC lifted its position in Roku by 4.5% in the third quarter. Sequoia Financial Advisors LLC now owns 4,721 shares of the company’s stock valued at $352,000 after purchasing an additional 202 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Roku by 11.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,207 shares of the company’s stock valued at $165,000 after purchasing an additional 222 shares in the last quarter. Finally, Beacon Capital Management LLC increased its position in Roku by 17.7% during the 1st quarter. Beacon Capital Management LLC now owns 1,547 shares of the company’s stock worth $101,000 after purchasing an additional 233 shares during the period. Institutional investors and hedge funds own 86.30% of the company’s stock.

Roku Stock Up 3.7 %

Shares of NASDAQ:ROKU opened at $69.67 on Wednesday. The business has a fifty day simple moving average of $73.17 and a 200-day simple moving average of $63.94. Roku, Inc. has a 52 week low of $48.33 and a 52 week high of $108.84. The company has a market cap of $10.08 billion, a P/E ratio of -58.06 and a beta of 2.07.

Roku (NASDAQ:ROKU) last released its earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.29. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. Roku had a negative net margin of 4.42% and a negative return on equity of 7.22%. Roku’s revenue was up 16.5% compared to the same quarter last year. During the same period in the previous year, the firm earned ($2.33) earnings per share. Sell-side analysts expect that Roku, Inc. will post -1.14 earnings per share for the current fiscal year.

Insider Transactions at Roku

In related news, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $75.00, for a total value of $1,875,000.00. Following the transaction, the chief executive officer now owns 5,020 shares in the company, valued at approximately $376,500. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Dan Jedda sold 1,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $76.25, for a total transaction of $76,250.00. Following the completion of the sale, the chief financial officer now directly owns 53,267 shares of the company’s stock, valued at approximately $4,061,608.75. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $75.00, for a total value of $1,875,000.00. Following the completion of the sale, the chief executive officer now owns 5,020 shares of the company’s stock, valued at approximately $376,500. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 69,776 shares of company stock worth $5,267,305 in the last ninety days. Insiders own 13.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ROKU shares. JPMorgan Chase & Co. raised their price target on Roku from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Jefferies Financial Group decreased their price objective on shares of Roku from $60.00 to $55.00 and set an “underperform” rating on the stock in a report on Friday, November 1st. Wedbush raised their price objective on Roku from $75.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Loop Capital boosted their target price on Roku from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Thursday, October 31st. Finally, Piper Sandler upped their target price on Roku from $60.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $83.95.

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.