KLP Kapitalforvaltning AS Purchases Shares of 74,600 Roku, Inc. (NASDAQ:ROKU)

KLP Kapitalforvaltning AS purchased a new position in Roku, Inc. (NASDAQ:ROKU) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 74,600 shares of the company’s stock, valued at approximately $5,546,000. KLP Kapitalforvaltning AS owned approximately 0.05% of Roku as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Entropy Technologies LP boosted its stake in Roku by 264.4% during the fourth quarter. Entropy Technologies LP now owns 25,525 shares of the company’s stock valued at $1,898,000 after buying an additional 18,520 shares during the last quarter. Holocene Advisors LP purchased a new stake in shares of Roku during the 3rd quarter worth approximately $129,015,000. National Bank of Canada FI boosted its position in shares of Roku by 11,626.3% during the 3rd quarter. National Bank of Canada FI now owns 150,800 shares of the company’s stock valued at $11,259,000 after acquiring an additional 149,514 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Roku by 3.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 990,867 shares of the company’s stock valued at $73,661,000 after purchasing an additional 34,898 shares in the last quarter. Finally, Achmea Investment Management B.V. increased its position in Roku by 146.4% in the fourth quarter. Achmea Investment Management B.V. now owns 10,168 shares of the company’s stock worth $756,000 after purchasing an additional 6,042 shares during the last quarter. Institutional investors own 86.30% of the company’s stock.

Insider Buying and Selling

In other news, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $79.77, for a total value of $1,994,250.00. Following the completion of the sale, the chief executive officer now owns 26,538 shares of the company’s stock, valued at $2,116,936.26. This trade represents a 48.51 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Charles Collier sold 7,181 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $78.25, for a total value of $561,913.25. Following the transaction, the insider now directly owns 7,380 shares in the company, valued at $577,485. This represents a 49.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 97,908 shares of company stock worth $8,633,436 in the last 90 days. 13.98% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on ROKU shares. Pivotal Research upgraded shares of Roku from a “hold” rating to a “buy” rating and increased their price objective for the company from $65.00 to $125.00 in a research report on Friday, February 14th. UBS Group increased their price target on shares of Roku from $73.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Bank of America boosted their price objective on Roku from $90.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Compass Point assumed coverage on Roku in a research report on Sunday. They set a “buy” rating on the stock. Finally, Citigroup upgraded Roku from a “neutral” rating to an “outperform” rating in a report on Sunday. One investment analyst has rated the stock with a sell rating, six have given a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $97.67.

Roku Trading Up 0.6 %

Shares of NASDAQ:ROKU opened at $81.73 on Wednesday. The company has a market capitalization of $11.93 billion, a PE ratio of -91.83 and a beta of 2.12. Roku, Inc. has a 12-month low of $48.33 and a 12-month high of $104.96. The business’s fifty day simple moving average is $81.12 and its 200-day simple moving average is $77.54.

Roku (NASDAQ:ROKU) last posted its earnings results on Thursday, February 13th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.44) by $0.20. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.15 billion. Roku had a negative return on equity of 5.34% and a negative net margin of 3.15%. Research analysts predict that Roku, Inc. will post -0.3 EPS for the current year.

About Roku

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.