Mutual Advisors LLC Purchases New Shares in Roku, Inc. (NASDAQ:ROKU)

Mutual Advisors LLC purchased a new stake in shares of Roku, Inc. (NASDAQ:ROKU) during the 4th quarter, HoldingsChannel reports. The firm purchased 2,753 shares of the company’s stock, valued at approximately $207,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ROKU. Holocene Advisors LP acquired a new stake in Roku during the third quarter valued at $129,015,000. Westfield Capital Management Co. LP grew its position in Roku by 126.1% during the third quarter. Westfield Capital Management Co. LP now owns 1,535,576 shares of the company’s stock valued at $114,646,000 after buying an additional 856,401 shares during the period. Point72 Asset Management L.P. grew its position in Roku by 352.5% during the third quarter. Point72 Asset Management L.P. now owns 651,658 shares of the company’s stock valued at $48,653,000 after buying an additional 507,643 shares during the period. JAT Capital Mgmt LP grew its position in Roku by 470.2% during the third quarter. JAT Capital Mgmt LP now owns 540,577 shares of the company’s stock valued at $40,359,000 after buying an additional 445,777 shares during the period. Finally, FMR LLC grew its position in Roku by 1.7% during the third quarter. FMR LLC now owns 14,570,372 shares of the company’s stock valued at $1,087,824,000 after buying an additional 244,793 shares during the period. Institutional investors and hedge funds own 86.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on ROKU. UBS Group began coverage on shares of Roku in a report on Friday, November 22nd. They set a “neutral” rating and a $73.00 price objective on the stock. 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. JMP Securities began coverage on shares of Roku in a report on Tuesday, January 21st. They set a “mkt outperform” rating and a $95.00 price objective on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price objective on shares of Roku in a report on Tuesday, January 7th. Finally, Jefferies Financial Group decreased their price objective on shares of Roku from $60.00 to $55.00 and set an “underperform” rating on the stock in a report on Friday, November 1st. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $83.18.

Insider Buying and Selling at Roku

In other Roku news, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were 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 directly owns 26,538 shares in the company, valued at $2,193,100.32. This represents a 48.51 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Charles Collier sold 10,771 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $71.14, for a total transaction of $766,248.94. Following the sale, the insider now owns 3,790 shares in the company, valued at approximately $269,620.60. This trade represents a 73.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 73,095 shares of company stock worth $5,726,218 over the last three months. Insiders own 13.98% of the company’s stock.

Roku Price Performance

Shares of ROKU opened at $82.58 on Thursday. Roku, Inc. has a 1-year low of $48.33 and a 1-year high of $99.80. The stock has a market cap of $11.99 billion, a PE ratio of -68.82 and a beta of 2.05. The firm has a 50-day simple moving average of $77.88 and a two-hundred day simple moving average of $71.78.

Roku (NASDAQ:ROKU) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.29. Roku had a negative net margin of 4.42% and a negative return on equity of 7.22%. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same period last year, the business earned ($2.33) earnings per share. The business’s revenue for the quarter was up 16.5% on a year-over-year basis. As a group, sell-side analysts expect that Roku, Inc. will post -1.09 earnings per share for the current fiscal 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.