Sumitomo Mitsui Trust Group Inc. Sells 855,519 Shares of Roku, Inc. (NASDAQ:ROKU)

Sumitomo Mitsui Trust Group Inc. decreased its holdings in Roku, Inc. (NASDAQ:ROKU) by 13.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,595,743 shares of the company’s stock after selling 855,519 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Roku were worth $415,988,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Geneos Wealth Management Inc. lifted its position in Roku by 369.9% during the fourth quarter. Geneos Wealth Management Inc. now owns 343 shares of the company’s stock valued at $25,000 after acquiring an additional 270 shares during the last quarter. Raelipskie Partnership acquired a new position in shares of Roku during the third quarter worth $32,000. Future Financial Wealth Managment LLC purchased a new stake in shares of Roku during the 3rd quarter valued at $43,000. GS Investments Inc. grew its stake in Roku by 33.4% during the 3rd quarter. GS Investments Inc. now owns 587 shares of the company’s stock worth $44,000 after buying an additional 147 shares during the last quarter. Finally, Venturi Wealth Management LLC grew its stake in Roku by 50.6% during the 3rd quarter. Venturi Wealth Management LLC now owns 991 shares of the company’s stock worth $74,000 after buying an additional 333 shares during the last quarter. Hedge funds and other institutional investors own 86.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on ROKU shares. Loop Capital raised their price target on Roku from $70.00 to $80.00 and gave the stock a “hold” rating in a report on Monday, December 9th. Morgan Stanley lifted their target price on shares of Roku from $60.00 to $65.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 29th. Citizens Jmp raised shares of Roku to a “strong-buy” rating in a report on Tuesday, January 21st. Needham & Company LLC reissued a “buy” rating and set a $100.00 price objective on shares of Roku in a report on Tuesday, January 7th. Finally, Rosenblatt Securities boosted their price target on Roku from $61.00 to $86.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $83.18.

Insider Transactions at Roku

In related news, CAO Matthew C. Banks sold 8,693 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $71.44, for a total transaction of $621,027.92. Following the completion of the sale, the chief accounting officer now directly owns 7,264 shares in the company, valued at approximately $518,940.16. This trade represents a 54.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Dan Jedda sold 1,000 shares of the business’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $77.18, for a total transaction of $77,180.00. Following the completion of the transaction, the chief financial officer now owns 63,555 shares in the company, valued at $4,905,174.90. The trade was a 1.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 72,885 shares of company stock valued at $5,712,912 over the last 90 days. 13.98% of the stock is currently owned by corporate insiders.

Roku Trading Down 0.7 %

Shares of ROKU opened at $81.08 on Friday. The stock has a 50 day moving average price of $79.25 and a 200 day moving average price of $72.42. Roku, Inc. has a one year low of $48.33 and a one year high of $99.80.

Roku Company 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.