Kessler Investment Group LLC Decreases Stock Position in Roku, Inc. (NASDAQ:ROKU)

Kessler Investment Group LLC reduced its position in Roku, Inc. (NASDAQ:ROKU) by 1.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 74,743 shares of the company’s stock after selling 1,225 shares during the period. Roku makes up about 2.6% of Kessler Investment Group LLC’s investment portfolio, making the stock its 20th largest position. Kessler Investment Group LLC’s holdings in Roku were worth $5,556,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in ROKU. Holocene Advisors LP purchased a new stake in Roku during the 3rd quarter valued at $129,015,000. Westfield Capital Management Co. LP raised its stake in Roku by 126.1% during the 3rd 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 last quarter. Point72 Asset Management L.P. raised its stake in Roku by 352.5% during the 3rd 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 last quarter. JAT Capital Mgmt LP raised its stake in Roku by 470.2% during the 3rd 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 last quarter. Finally, FMR LLC raised its stake in Roku by 1.7% during the 3rd 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 last quarter. 86.30% of the stock is currently owned by hedge funds and other institutional investors.

Roku Stock Performance

Shares of Roku stock opened at $99.07 on Friday. The business has a 50-day moving average price of $80.56 and a 200-day moving average price of $73.65. Roku, Inc. has a twelve month low of $48.33 and a twelve month high of $104.96.

Roku (NASDAQ:ROKU) last issued its quarterly earnings data on Thursday, February 13th. The company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.20. Roku had a negative return on equity of 7.22% and a negative net margin of 4.42%. Sell-side analysts expect that Roku, Inc. will post -1.09 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on ROKU shares. Jefferies Financial Group decreased their target price on shares of Roku from $60.00 to $55.00 and set an “underperform” rating for the company in a research note on Friday, November 1st. JMP Securities boosted their price objective on shares of Roku from $95.00 to $115.00 and gave the company a “market outperform” rating in a research report on Friday. Loop Capital boosted their price objective on shares of Roku from $70.00 to $80.00 and gave the company a “hold” rating in a research report on Monday, December 9th. Wells Fargo & Company raised shares of Roku from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $74.00 to $129.00 in a research report on Friday. Finally, Pivotal Research raised shares of Roku from a “hold” rating to a “buy” rating and boosted their price objective for the company from $65.00 to $125.00 in a research report on Friday. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $93.18.

Insider Activity at Roku

In related news, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $87.93, for a total value of $2,198,250.00. Following the completion of the transaction, the chief executive officer now owns 26,538 shares of the company’s stock, valued at approximately $2,333,486.34. This trade represents a 48.51 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Charles Collier sold 10,771 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $71.14, for a total transaction of $766,248.94. Following the completion of the transaction, the insider now directly owns 3,790 shares of the company’s stock, valued at approximately $269,620.60. The trade was a 73.97 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 97,885 shares of company stock valued at $7,911,162. Insiders own 13.98% of the company’s stock.

Roku Company 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.