Sumitomo Mitsui Trust Group Inc. Sells 444,763 Shares of Roku, Inc. (NASDAQ:ROKU)

Sumitomo Mitsui Trust Group Inc. lowered its stake in shares of Roku, Inc. (NASDAQ:ROKU) by 6.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,451,262 shares of the company’s stock after selling 444,763 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 4.46% of Roku worth $481,651,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. EverSource Wealth Advisors LLC increased its holdings in shares of Roku by 123.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company’s stock worth $40,000 after purchasing an additional 375 shares during the period. Future Financial Wealth Managment LLC bought a new position in Roku during the third quarter valued at about $43,000. Cedar Wealth Management LLC bought a new position in Roku during the second quarter valued at about $48,000. Natixis acquired a new position in Roku in the 1st quarter valued at approximately $53,000. Finally, Versant Capital Management Inc lifted its position in shares of Roku by 706.2% in the 2nd 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 period. 86.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Charles Collier sold 15,454 shares of the 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 $1,159,050.00. Following the completion of the sale, the insider now directly owns 200 shares of the company’s stock, valued at approximately $15,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Charles Collier sold 15,454 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $75.00, for a total value of $1,159,050.00. Following the completion of the transaction, the insider now directly owns 200 shares of the company’s stock, valued at approximately $15,000. 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 this link. Also, CFO Dan Jedda sold 1,000 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $75.33, for a total value of $75,330.00. Following the transaction, the chief financial officer now owns 54,267 shares of the company’s stock, valued at approximately $4,087,933.11. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 69,776 shares of company stock worth $5,267,305 in the last 90 days. Corporate insiders own 13.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Wolfe Research upgraded Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 target price for the company in a research note on Thursday, September 12th. Jefferies Financial Group dropped their price objective on shares of Roku from $60.00 to $55.00 and set an “underperform” rating for the company in a research note on Friday, November 1st. Piper Sandler lifted their target price on shares of Roku from $60.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Morgan Stanley raised their price target 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. Finally, Benchmark restated a “buy” rating and set a $105.00 target price on shares of Roku in a research report on Thursday, September 12th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Roku presently has a consensus rating of “Hold” and a consensus price target of $83.95.

Roku Stock Performance

ROKU opened at $77.12 on Tuesday. The company has a fifty day moving average price of $73.47 and a two-hundred day moving average price of $64.19. The firm has a market capitalization of $11.20 billion, a PE ratio of -64.27 and a beta of 2.07. Roku, Inc. has a 52 week low of $48.33 and a 52 week high of $108.84.

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

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.