Centaurus Financial Inc. Cuts Stock Position in Roku, Inc. (NASDAQ:ROKU)

Centaurus Financial Inc. lessened its stake in Roku, Inc. (NASDAQ:ROKU) by 21.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 3,920 shares of the company’s stock after selling 1,100 shares during the quarter. Centaurus Financial Inc.’s holdings in Roku were worth $293,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its stake in Roku by 123.4% in the second quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company’s stock valued at $40,000 after purchasing an additional 375 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new position in Roku in the third quarter valued at about $43,000. GS Investments Inc. grew its stake in 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 purchasing an additional 147 shares during the last quarter. Cedar Wealth Management LLC purchased a new stake in shares of Roku during the second quarter worth about $48,000. Finally, Versant Capital Management Inc grew its stake in shares of Roku by 706.2% during the second quarter. Versant Capital Management Inc now owns 911 shares of the company’s stock worth $55,000 after acquiring an additional 798 shares during the last quarter. Hedge funds and other institutional investors own 86.30% of the company’s stock.

Roku Price Performance

Roku stock opened at $67.71 on Thursday. The stock has a market capitalization of $9.83 billion, a PE ratio of -56.42 and a beta of 2.07. Roku, Inc. has a 12 month low of $48.33 and a 12 month high of $108.84. The business has a 50 day simple moving average of $74.16 and a 200-day simple moving average of $65.25.

Roku (NASDAQ:ROKU) last posted its quarterly earnings data on Wednesday, October 30th. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.29. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Roku had a negative return on equity of 7.22% and a negative net margin of 4.42%. The business’s revenue was up 16.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($2.33) earnings per share. On average, equities research analysts anticipate that Roku, Inc. will post -1.1 EPS for the current fiscal year.

Insider Activity

In related news, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the completion of the sale, the chief executive officer now directly owns 5,020 shares in the company, valued at approximately $376,500. The trade was a 83.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Matthew C. Banks sold 8,693 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $71.44, for a total value of $621,027.92. Following the sale, the chief accounting officer now owns 7,264 shares of the company’s stock, valued at $518,940.16. The trade was a 54.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 90,240 shares of company stock worth $6,729,582 over the last three months. 13.98% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

ROKU has been the topic of a number of research analyst reports. Needham & Company LLC restated a “buy” rating and set a $100.00 price target on shares of Roku in a research note on Thursday, October 31st. Wedbush boosted their price target on Roku from $75.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Rosenblatt Securities boosted their price target on Roku from $61.00 to $86.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Baird R W upgraded Roku from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 18th. Finally, Citigroup boosted their price target on Roku from $60.00 to $77.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $82.62.

About Roku

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.