Daiwa Securities Group Inc. Decreases Stake in Roku, Inc. (NASDAQ:ROKU)

Daiwa Securities Group Inc. reduced its holdings in Roku, Inc. (NASDAQ:ROKU) by 32.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,439 shares of the company’s stock after selling 6,110 shares during the period. Daiwa Securities Group Inc.’s holdings in Roku were worth $925,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Entropy Technologies LP lifted its stake in shares of Roku by 264.4% in the fourth quarter. Entropy Technologies LP now owns 25,525 shares of the company’s stock worth $1,898,000 after buying an additional 18,520 shares in the last quarter. Holocene Advisors LP purchased a new position in shares of Roku in the third quarter worth about $129,015,000. National Bank of Canada FI lifted its stake in shares of Roku by 11,626.3% in the third quarter. National Bank of Canada FI now owns 150,800 shares of the company’s stock worth $11,259,000 after buying an additional 149,514 shares in the last quarter. EULAV Asset Management lifted its stake in shares of Roku by 59.1% in the third quarter. EULAV Asset Management now owns 183,000 shares of the company’s stock worth $13,663,000 after buying an additional 68,000 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Roku by 3.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 990,867 shares of the company’s stock worth $73,661,000 after buying an additional 34,898 shares in the last quarter. 86.30% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on ROKU. Jefferies Financial Group upgraded shares of Roku from an “underperform” rating to a “hold” rating and raised their price objective for the stock from $55.00 to $100.00 in a research report on Thursday, February 20th. Benchmark raised their price objective on shares of Roku from $100.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Rosenblatt Securities restated a “neutral” rating and set a $86.00 price objective on shares of Roku in a research report on Thursday, February 13th. UBS Group raised their price objective on shares of Roku from $73.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Finally, Needham & Company LLC restated a “buy” rating and set a $100.00 price objective on shares of Roku in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Roku currently has a consensus rating of “Moderate Buy” and a consensus price target of $96.71.

Roku Stock Performance

Shares of ROKU stock opened at $67.78 on Friday. The stock has a market capitalization of $9.89 billion, a P/E ratio of -76.16 and a beta of 2.12. The company has a 50 day moving average price of $81.73 and a 200 day moving average price of $77.05. Roku, Inc. has a fifty-two week low of $48.33 and a fifty-two week high of $104.96.

Roku (NASDAQ:ROKU) last issued its quarterly earnings results on Thursday, February 13th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.20. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.15 billion. On average, research analysts forecast that Roku, Inc. will post -0.3 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Dan Jedda sold 1,000 shares of Roku stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $82.73, for a total value of $82,730.00. Following the completion of the transaction, the chief financial officer now owns 64,555 shares in the company, valued at $5,340,635.15. The trade was a 1.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Matthew C. Banks sold 1,906 shares of Roku stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $80.36, for a total transaction of $153,166.16. Following the completion of the transaction, the chief accounting officer now owns 7,256 shares of the company’s stock, valued at $583,092.16. This represents a 20.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 93,308 shares of company stock worth $8,296,166 over the last 90 days. 13.98% of the stock is owned by insiders.

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.