Clay Northam Wealth Management LLC Sells 797 Shares of Roku, Inc. (NASDAQ:ROKU)

Clay Northam Wealth Management LLC lowered its stake in shares of Roku, Inc. (NASDAQ:ROKU) by 13.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 5,051 shares of the company’s stock after selling 797 shares during the quarter. Clay Northam Wealth Management LLC’s holdings in Roku were worth $375,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. GS Investments Inc. boosted its position in Roku by 33.4% in the third quarter. GS Investments Inc. now owns 587 shares of the company’s stock valued at $44,000 after buying an additional 147 shares in the last quarter. PFG Investments LLC boosted its stake in shares of Roku by 3.7% during the third quarter. PFG Investments LLC now owns 4,157 shares of the company’s stock valued at $310,000 after purchasing an additional 150 shares in the last quarter. True Vision MN LLC increased its stake in shares of Roku by 3.1% in the third quarter. True Vision MN LLC now owns 5,018 shares of the company’s stock valued at $375,000 after buying an additional 152 shares during the period. Sequoia Financial Advisors LLC raised its holdings in Roku by 4.5% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 4,721 shares of the company’s stock valued at $352,000 after buying an additional 202 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in Roku by 11.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,207 shares of the company’s stock valued at $165,000 after acquiring an additional 222 shares during the period. Institutional investors own 86.30% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Matthew C. Banks sold 8,693 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $71.44, for a total transaction of $621,027.92. Following the transaction, the chief accounting officer now owns 7,264 shares in the company, valued at $518,940.16. The trade was a 54.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Dan Jedda sold 1,000 shares of Roku stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $75.00, for a total transaction of $75,000.00. Following the sale, the chief financial officer now directly owns 65,555 shares in the company, valued at $4,916,625. The trade was a 1.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 72,885 shares of company stock valued at $5,712,912 over the last quarter. 13.98% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Jefferies Financial Group reduced their price target on Roku from $60.00 to $55.00 and set an “underperform” rating on the stock in a research report on Friday, November 1st. Robert W. Baird raised shares of Roku from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $70.00 to $90.00 in a research report on Monday, November 18th. Wedbush reissued an “outperform” rating and set a $100.00 target price on shares of Roku in a research report on Wednesday, January 8th. Macquarie restated an “outperform” rating and set a $90.00 price objective on shares of Roku in a research note on Thursday, October 31st. Finally, Piper Sandler upped their target price on shares of Roku from $60.00 to $75.00 and gave the stock 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 assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $83.18.

Roku Stock Performance

Roku stock opened at $79.10 on Tuesday. The firm’s fifty day moving average price is $78.70 and its 200-day moving average price is $72.24. Roku, Inc. has a fifty-two week low of $48.33 and a fifty-two week high of $99.80.

About Roku

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.