Roku, Inc. (NASDAQ:ROKU) Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lessened its holdings in shares of Roku, Inc. (NASDAQ:ROKU) by 22.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 43,719 shares of the company’s stock after selling 12,609 shares during the period. Pictet Asset Management Holding SA’s holdings in Roku were worth $3,250,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Investment Management Corp of Ontario acquired a new position in shares of Roku during the 3rd quarter worth $318,000. Integrated Wealth Concepts LLC boosted its holdings in Roku by 26.9% during the third quarter. Integrated Wealth Concepts LLC now owns 20,890 shares of the company’s stock worth $1,560,000 after buying an additional 4,427 shares in the last quarter. Polar Asset Management Partners Inc. acquired a new position in Roku during the third quarter worth about $2,957,000. Quantinno Capital Management LP increased its holdings in Roku by 21.3% in the third quarter. Quantinno Capital Management LP now owns 74,289 shares of the company’s stock valued at $5,546,000 after buying an additional 13,049 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in shares of Roku during the 3rd quarter valued at approximately $5,113,000. Hedge funds and other institutional investors own 86.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ROKU. JPMorgan Chase & Co. upped their price target on Roku from $92.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. FBN Securities initiated coverage on Roku in a report on Friday, March 28th. They issued an “outperform” rating and a $93.00 target price on the stock. Rosenblatt Securities reaffirmed a “neutral” rating and set a $86.00 price target on shares of Roku in a research note on Thursday, February 13th. Jefferies Financial Group raised shares of Roku from an “underperform” rating to a “hold” rating and increased their price objective for the company from $55.00 to $100.00 in a research note on Thursday, February 20th. Finally, Pivotal Research upgraded shares of Roku from a “hold” rating to a “buy” rating and lifted their target price for the stock from $65.00 to $125.00 in a research report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $96.55.

Insider Activity

In other news, CFO Dan Jedda sold 1,000 shares of the firm’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $77.18, for a total value of $77,180.00. Following the transaction, the chief financial officer now owns 63,555 shares of the company’s stock, valued at approximately $4,905,174.90. This trade represents a 1.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Charles Collier sold 7,181 shares of Roku stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $78.25, for a total transaction of $561,913.25. Following the transaction, the insider now owns 7,380 shares in the company, valued at $577,485. The trade was a 49.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 97,905 shares of company stock valued at $8,632,306 in the last three months. Corporate insiders own 13.98% of the company’s stock.

Roku Stock Down 8.3 %

NASDAQ:ROKU opened at $55.28 on Friday. The company has a market cap of $8.07 billion, a P/E ratio of -62.11 and a beta of 2.17. The firm’s 50 day moving average is $79.65 and its two-hundred day moving average is $77.37. 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 earnings results on Thursday, February 13th. The company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.44) by $0.20. Roku had a negative return on equity of 5.34% and a negative net margin of 3.15%. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.15 billion. Research analysts forecast that Roku, Inc. will post -0.3 earnings per share for the current fiscal year.

Roku 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.