abrdn plc Decreases Stock Holdings in Roku, Inc. (NASDAQ:ROKU)

abrdn plc lowered its position in shares of Roku, Inc. (NASDAQ:ROKU) by 21.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,464 shares of the company’s stock after selling 938 shares during the period. abrdn plc’s holdings in Roku were worth $259,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of ROKU. ARK Investment Management LLC lifted its position in shares of Roku by 1.3% during the 2nd quarter. ARK Investment Management LLC now owns 12,716,432 shares of the company’s stock worth $762,096,000 after buying an additional 159,785 shares during the last quarter. Vanguard Group Inc. lifted its position in Roku by 0.8% in the first quarter. Vanguard Group Inc. now owns 11,946,605 shares of the company’s stock valued at $778,560,000 after acquiring an additional 92,658 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Roku by 5.2% in the second quarter. Bank of New York Mellon Corp now owns 500,794 shares of the company’s stock valued at $30,013,000 after acquiring an additional 24,926 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of Roku by 138.1% during the first quarter. Canada Pension Plan Investment Board now owns 342,400 shares of the company’s stock worth $22,314,000 after purchasing an additional 198,600 shares during the last quarter. Finally, Andra AP fonden increased its position in shares of Roku by 116.6% during the second quarter. Andra AP fonden now owns 293,900 shares of the company’s stock worth $17,613,000 after purchasing an additional 158,200 shares in the last quarter. Hedge funds and other institutional investors own 86.30% of the company’s stock.

Insider Transactions at Roku

In related news, CFO Dan Jedda sold 1,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $76.25, for a total value of $76,250.00. Following the sale, the chief financial officer now directly owns 53,267 shares in the company, valued at $4,061,608.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Dan Jedda sold 1,000 shares of Roku stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $76.25, for a total transaction of $76,250.00. Following the completion of the transaction, the chief financial officer now directly owns 53,267 shares in the company, valued at $4,061,608.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $75.00, for a total value of $1,875,000.00. Following the sale, the chief executive officer now owns 5,020 shares in the company, valued at approximately $376,500. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 69,776 shares of company stock valued at $5,267,305 in the last 90 days. 13.98% of the stock is currently owned by insiders.

Analysts Set New Price Targets

ROKU has been the subject of a number of research analyst reports. Robert W. Baird upped their target price on Roku from $56.00 to $75.00 and gave the company a “neutral” rating in a research report on Monday, September 30th. Wolfe Research raised Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 price objective for the company in a report on Thursday, September 12th. Morgan Stanley upped their price target on shares of Roku from $60.00 to $65.00 and gave the company an “underweight” rating in a research report on Tuesday, October 29th. Guggenheim raised shares of Roku from a “neutral” rating to a “buy” rating and set a $75.00 price objective on the stock in a research report on Friday, August 23rd. Finally, JPMorgan Chase & Co. increased their target price on shares of Roku from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $83.95.

Roku Trading Up 3.7 %

ROKU stock opened at $69.67 on Wednesday. The firm has a 50 day moving average of $73.17 and a 200-day moving average of $63.94. The company has a market cap of $10.08 billion, a price-to-earnings ratio of -58.06 and a beta of 2.07. Roku, Inc. has a 12-month low of $48.33 and a 12-month high of $108.84.

Roku (NASDAQ:ROKU) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.29. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. Roku had a negative return on equity of 7.22% and a negative net margin of 4.42%. Roku’s quarterly revenue was up 16.5% on a year-over-year basis. During the same period last year, the business posted ($2.33) EPS. Sell-side analysts forecast that Roku, Inc. will post -1.14 earnings per share for the current fiscal 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.