Sumitomo Mitsui Trust Group Inc. cut its stake in shares of Roku, Inc. (NASDAQ:ROKU - Free Report) by 13.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,595,743 shares of the company's stock after selling 855,519 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 3.85% of Roku worth $415,988,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Geneos Wealth Management Inc. increased its holdings in shares of Roku by 369.9% in the 4th quarter. Geneos Wealth Management Inc. now owns 343 shares of the company's stock worth $25,000 after purchasing an additional 270 shares in the last quarter. Raelipskie Partnership bought a new position in Roku during the third quarter valued at approximately $32,000. Future Financial Wealth Managment LLC purchased a new position in shares of Roku in the 3rd quarter worth $43,000. 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 worth $44,000 after purchasing an additional 147 shares during the last quarter. Finally, Venturi Wealth Management LLC grew its stake in shares of Roku by 50.6% during the 3rd quarter. Venturi Wealth Management LLC now owns 991 shares of the company's stock valued at $74,000 after purchasing an additional 333 shares during the period. Hedge funds and other institutional investors own 86.30% of the company's stock.
A number of equities analysts recently issued reports on ROKU shares. Wedbush reissued an "outperform" rating and issued a $100.00 price objective on shares of Roku in a report on Wednesday, January 8th. JMP Securities reaffirmed a "market outperform" rating and issued a $95.00 target price on shares of Roku in a report on Monday. Citizens Jmp raised shares of Roku to a "strong-buy" rating in a report on Tuesday, January 21st. UBS Group initiated coverage on shares of Roku in a research note on Friday, November 22nd. They issued a "neutral" rating and a $73.00 price objective for the company. Finally, Morgan Stanley increased their price target on Roku from $60.00 to $65.00 and gave the stock an "underweight" rating in a research note on Tuesday, October 29th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Roku currently has a consensus rating of "Moderate Buy" and an average price target of $83.18.
Read Our Latest Stock Report on Roku
Shares of NASDAQ ROKU opened at $81.08 on Friday. The firm has a 50-day simple moving average of $79.25 and a two-hundred day simple moving average of $72.42. Roku, Inc. has a 1 year low of $48.33 and a 1 year high of $99.80.
In other Roku news, CEO Anthony J. Wood sold 25,000 shares of the business's stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $82.64, for a total value of $2,066,000.00. Following the completion of the sale, the chief executive officer now directly owns 26,538 shares of the company's stock, valued at $2,193,100.32. The trade was a 48.51 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Matthew C. Banks sold 8,693 shares of the firm's stock in a transaction that occurred on 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 directly owns 7,264 shares in the company, valued at approximately $518,940.16. This trade represents a 54.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 72,885 shares of company stock valued at $5,712,912. Insiders own 13.98% of the company's stock.
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.
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