Hartford Financial Management Inc. Reduces Holdings in Roku Inc (NASDAQ:ROKU)

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Hartford Financial Management Inc. trimmed its stake in Roku Inc (NASDAQ:ROKU) by 45.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 600 shares of the company’s stock after selling 500 shares during the period. Hartford Financial Management Inc.’s holdings in Roku were worth $54,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of ROKU. Baillie Gifford & Co. purchased a new position in shares of Roku in the 1st quarter valued at $117,951,000. FMR LLC grew its position in shares of Roku by 12.1% in the 1st quarter. FMR LLC now owns 7,108,246 shares of the company’s stock valued at $458,553,000 after buying an additional 767,418 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD purchased a new position in shares of Roku in the 1st quarter valued at $40,282,000. Norges Bank purchased a new position in shares of Roku in the 4th quarter valued at $14,477,000. Finally, Impala Asset Management LLC purchased a new position in shares of Roku in the 1st quarter valued at $12,863,000. 50.30% of the stock is currently owned by hedge funds and other institutional investors.

ROKU stock opened at $135.33 on Wednesday. Roku Inc has a one year low of $26.30 and a one year high of $142.10. The firm has a market cap of $14.21 billion, a PE ratio of -1,691.63 and a beta of 2.04. The stock has a fifty day moving average price of $104.80.

Roku (NASDAQ:ROKU) last released its earnings results on Wednesday, August 7th. The company reported ($0.08) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.22) by $0.14. Roku had a negative net margin of 2.41% and a negative return on equity of 7.91%. The company had revenue of $250.10 million during the quarter, compared to analysts’ expectations of $223.36 million. The company’s revenue for the quarter was up 59.5% compared to the same quarter last year. Sell-side analysts predict that Roku Inc will post -0.58 earnings per share for the current year.

In other Roku news, Director Alan S. Henricks sold 6,000 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $90.00, for a total transaction of $540,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alan S. Henricks sold 10,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $125.10, for a total transaction of $1,251,000.00. The disclosure for this sale can be found here. Insiders sold a total of 614,733 shares of company stock valued at $62,498,652 in the last 90 days. Company insiders own 22.70% of the company’s stock.

A number of research analysts recently commented on ROKU shares. CIBC increased their target price on shares of Roku from $79.00 to $120.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Guggenheim raised shares of Roku from a “neutral” rating to a “buy” rating and increased their target price for the company from $75.00 to $119.00 in a research report on Wednesday, June 5th. Zacks Investment Research downgraded shares of Roku from a “buy” rating to a “hold” rating in a research report on Friday, August 9th. Macquarie reaffirmed a “neutral” rating and issued a $110.00 target price (up from $66.00) on shares of Roku in a research report on Thursday, August 8th. Finally, KeyCorp increased their target price on shares of Roku from $76.00 to $84.00 and gave the company an “overweight” rating in a research report on Thursday, May 9th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $102.98.

Roku Profile

Roku, Inc operates a TV streaming platform. The company operates in two segments, Platform and Player. Its platform allows users to discover and access various movies and TV episodes, as well as live sports, music, news, and others. As of December 31, 2018, the company had 27.1 million active accounts.

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Institutional Ownership by Quarter for Roku (NASDAQ:ROKU)

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