Clay Northam Wealth Management LLC Cuts Stake in Roku, Inc. (NASDAQ:ROKU)

Clay Northam Wealth Management LLC reduced its position in shares of Roku, Inc. (NASDAQ:ROKU) by 13.6% in the fourth quarter, according to its most recent filing with the SEC. The fund 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.

Several other large investors also recently added to or reduced their stakes in ROKU. abrdn plc grew its holdings in shares of Roku by 12.0% in the fourth quarter. abrdn plc now owns 3,881 shares of the company’s stock worth $289,000 after purchasing an additional 417 shares during the last quarter. S.A. Mason LLC bought a new stake in Roku during the fourth quarter valued at about $365,000. Tokio Marine Asset Management Co. Ltd. grew its position in shares of Roku by 22.2% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,655 shares of the company’s stock worth $420,000 after buying an additional 1,028 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Roku by 56.0% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 130,985 shares of the company’s stock valued at $9,737,000 after purchasing an additional 47,006 shares during the last quarter. Finally, SteelPeak Wealth LLC purchased a new stake in shares of Roku during the fourth quarter worth about $258,000. 86.30% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $82.64, for a total transaction of $2,066,000.00. Following the sale, the chief executive officer now owns 26,538 shares of the company’s stock, valued at approximately $2,193,100.32. The trade was a 48.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Matthew C. Banks sold 8,693 shares of the company’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 completion of the sale, the chief accounting officer now directly owns 7,264 shares of the company’s stock, valued at $518,940.16. The trade was a 54.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 72,885 shares of company stock valued at $5,712,912 in the last ninety days. Insiders own 13.98% of the company’s stock.

Roku Stock Performance

ROKU opened at $79.10 on Tuesday. The stock’s 50 day simple moving average is $78.70 and its 200 day simple moving average is $72.24. Roku, Inc. has a 1-year low of $48.33 and a 1-year high of $99.80.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on ROKU shares. Rosenblatt Securities boosted their target price on shares of Roku from $61.00 to $86.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Robert W. Baird raised shares of Roku from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $70.00 to $90.00 in a report on Monday, November 18th. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price target on shares of Roku in a research report on Tuesday, January 7th. JPMorgan Chase & Co. increased their price objective on shares of Roku from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Finally, UBS Group initiated coverage on Roku in a report on Friday, November 22nd. They set a “neutral” rating and a $73.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Roku currently has a consensus rating of “Moderate Buy” and an average price target of $83.18.

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.