559,115 Roku, Inc. $ROKU Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. trimmed its holdings in shares of Roku, Inc. (NASDAQ:ROKU) by 89.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,869 shares of the company’s stock after selling 559,115 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Roku were worth $10,335,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Roku in the 3rd quarter worth $46,000. Vise Technologies Inc. lifted its holdings in Roku by 27.4% during the third quarter. Vise Technologies Inc. now owns 7,071 shares of the company’s stock valued at $1,077,000 after purchasing an additional 1,522 shares in the last quarter. Moss Adams Wealth Advisors LLC acquired a new stake in shares of Roku in the third quarter valued at about $240,000. Raleigh Capital Management Inc. grew its position in shares of Roku by 9.6% in the third quarter. Raleigh Capital Management Inc. now owns 1,744 shares of the company’s stock valued at $266,000 after purchasing an additional 153 shares during the period. Finally, Choreo LLC grew its position in shares of Roku by 4.2% in the third quarter. Choreo LLC now owns 17,555 shares of the company’s stock valued at $2,673,000 after purchasing an additional 715 shares during the period. Hedge funds and other institutional investors own 86.30% of the company’s stock.

Roku News Roundup

Here are the key news stories impacting Roku this week:

• Positive Sentiment: Fox completed its reported $22 billion acquisition of Roku, combining Roku’s streaming platform with Fox’s media and advertising business. Fox expects the transaction to create more opportunities to reach audiences and serve advertising partners, while also expanding the reach of its sports and news programming. Fox completes its $22B acquisition of Roku
• Neutral Sentiment: The acquisition’s completion means Roku will no longer trade on Nasdaq as of Friday. Investors should view ROKU’s immediate trading implications in light of the completed transaction, rather than solely as a bet on Roku’s future as an independent company. Fox Corp. Closes $22B Acquisition Of Roku
• Neutral Sentiment: Roku head Charlie Collier and Tubi CEO Anjali Sud are departing, with Paul Cheesbrough named CEO of Fox Digital Platforms. The leadership changes signal a reshaping of Fox’s combined digital operation, though the reports provide no details on the expected financial impact. Fox Digital Platforms leadership changes

Insiders Place Their Bets

In other news, CFO Dan Jedda sold 7,000 shares of the business’s stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $152.84, for a total transaction of $1,069,880.00. Following the transaction, the chief financial officer directly owned 67,811 shares in the company, valued at $10,364,233.24. The trade was a 9.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gilbert Fuchsberg sold 4,824 shares of Roku stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $155.64, for a total value of $750,807.36. Following the completion of the sale, the insider directly owned 40,168 shares in the company, valued at $6,251,747.52. This represents a 10.72% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 88,028 shares of company stock valued at $13,645,922. Corporate insiders own 13.45% of the company’s stock.

Roku Trading Up 0.1%

ROKU traded up $0.15 on Friday, hitting $160.52. 11,519,211 shares of the company’s stock were exchanged, compared to its average volume of 2,390,983. Roku, Inc. has a fifty-two week low of $78.53 and a fifty-two week high of $163.57. The stock has a market cap of $23.82 billion, a price-to-earnings ratio of 47.49 and a beta of 2.12. The firm has a 50-day moving average price of $155.33 and a 200-day moving average price of $128.92.

Roku (NASDAQ:ROKU) last announced its earnings results on Monday, November 2nd. The company reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.65. Roku had a net margin of 9.34% and a return on equity of 19.19%. The business had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same period in the previous year, the company posted $0.16 EPS. The company’s quarterly revenue was up 24.1% on a year-over-year basis. On average, equities analysts predict that Roku, Inc. will post 3.28 EPS for the current year.

Wall Street Analysts Forecast Growth

ROKU has been the subject of several research analyst reports. JPMorgan Chase & Co. began coverage on shares of Roku in a research report on Monday, August 24th. They set a “neutral” rating and a $160.00 price target for the company. Wedbush reiterated a “neutral” rating and issued a $155.00 price objective on shares of Roku in a report on Thursday, September 24th. Weiss Ratings upgraded Roku from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday. Wells Fargo & Company lowered Roku from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $167.00 to $165.00 in a research note on Friday, August 14th. Finally, Seaport Research Partners cut Roku from a “buy” rating to a “neutral” rating in a report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eighteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $156.17.

Roku Company Profile

Roku, Inc (NASDAQ: ROKU) operates a television streaming platform that connects consumers with digital entertainment. The company develops and licenses Roku OS, an operating system for smart televisions and streaming devices, and offers Roku-branded streaming players, Roku TVs, audio products and related accessories.

Roku also operates a platform business that distributes streaming content through its interface and supports content discovery, subscriptions and digital advertising. Its services include The Roku Channel, which provides a selection of ad-supported and premium entertainment, as well as tools that enable content providers and advertisers to reach streaming audiences.

Founded in 2002 by Anthony Wood, Roku initially became known for its streaming players and later expanded through partnerships with television manufacturers.