Nuveen Asset Management LLC Sells 36,920 Shares of Roku, Inc. (NASDAQ:ROKU)

Nuveen Asset Management LLC lowered its holdings in Roku, Inc. (NASDAQ:ROKU) by 10.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 305,733 shares of the company’s stock after selling 36,920 shares during the period. Nuveen Asset Management LLC’s holdings in Roku were worth $22,728,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. FMR LLC grew its position in Roku by 31.7% during the fourth quarter. FMR LLC now owns 19,183,942 shares of the company’s stock valued at $1,426,134,000 after buying an additional 4,613,570 shares during the period. Marshall Wace LLP boosted its stake in Roku by 663.9% in the fourth quarter. Marshall Wace LLP now owns 2,335,813 shares of the company’s stock valued at $173,644,000 after acquiring an additional 2,030,036 shares during the last quarter. Cadian Capital Management LP bought a new position in shares of Roku during the 4th quarter valued at approximately $87,632,000. Jacobs Levy Equity Management Inc. increased its stake in shares of Roku by 505.3% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,296,774 shares of the company’s stock worth $96,402,000 after purchasing an additional 1,082,548 shares during the last quarter. Finally, Gilder Gagnon Howe & Co. LLC increased its stake in shares of Roku by 214.1% during the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 864,974 shares of the company’s stock worth $64,302,000 after purchasing an additional 589,610 shares during the last quarter. Institutional investors own 86.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Rosenblatt Securities reduced their price objective on Roku from $100.00 to $75.00 and set a “neutral” rating for the company in a report on Friday, May 2nd. Bank of America started coverage on Roku in a report on Thursday, March 27th. They issued a “buy” rating and a $100.00 price objective for the company. Loop Capital dropped their price objective on shares of Roku from $90.00 to $80.00 and set a “hold” rating on the stock in a report on Friday, May 2nd. JPMorgan Chase & Co. lowered their target price on shares of Roku from $115.00 to $75.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Finally, Redburn Atlantic upgraded Roku from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a research report on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $87.93.

Insiders Place Their Bets

In other news, CEO Anthony J. Wood sold 4,600 shares of the firm’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $75.00, for a total transaction of $345,000.00. Following the transaction, the chief executive officer now directly owns 6,243 shares of the company’s stock, valued at approximately $468,225. This trade represents a 42.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Matthew C. Banks sold 1,906 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $80.36, for a total value of $153,166.16. Following the completion of the sale, the chief accounting officer now directly owns 7,256 shares of the company’s stock, valued at approximately $583,092.16. This trade represents a 20.80% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 15,100 shares of company stock valued at $1,164,215. 13.98% of the stock is currently owned by corporate insiders.

Roku Stock Down 1.1%

ROKU opened at $69.01 on Friday. The business’s fifty day simple moving average is $66.06 and its 200 day simple moving average is $74.48. Roku, Inc. has a 52 week low of $48.33 and a 52 week high of $104.96. The stock has a market cap of $10.07 billion, a PE ratio of -77.54 and a beta of 2.06.

Roku (NASDAQ:ROKU) last announced its quarterly earnings data on Thursday, May 1st. The company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.08. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. Roku had a negative return on equity of 5.34% and a negative net margin of 3.15%. The company’s revenue was up 15.8% on a year-over-year basis. During the same period in the prior year, the company earned ($0.35) EPS. As a group, equities analysts anticipate that Roku, Inc. will post -0.3 earnings per share for the current 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.