Bedell Frazier Investment Counselling LLC Buys Shares of 49,726 Roku, Inc. (NASDAQ:ROKU)

Bedell Frazier Investment Counselling LLC purchased a new position in Roku, Inc. (NASDAQ:ROKU) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 49,726 shares of the company’s stock, valued at approximately $3,697,000.

Several other hedge funds and other institutional investors have also modified their holdings of ROKU. Entropy Technologies LP increased its holdings in shares of Roku by 264.4% in the 4th quarter. Entropy Technologies LP now owns 25,525 shares of the company’s stock worth $1,898,000 after acquiring an additional 18,520 shares during the period. Holocene Advisors LP acquired a new stake in shares of Roku in the third quarter valued at approximately $129,015,000. National Bank of Canada FI raised its holdings in shares of Roku by 11,626.3% during the third quarter. National Bank of Canada FI now owns 150,800 shares of the company’s stock valued at $11,259,000 after buying an additional 149,514 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Roku by 3.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 990,867 shares of the company’s stock worth $73,661,000 after buying an additional 34,898 shares during the period. Finally, Achmea Investment Management B.V. grew its holdings in Roku by 146.4% in the 4th quarter. Achmea Investment Management B.V. now owns 10,168 shares of the company’s stock worth $756,000 after buying an additional 6,042 shares in the last quarter. 86.30% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ROKU shares. UBS Group raised Roku from a “hold” rating to a “strong-buy” rating in a research note on Thursday. Needham & Company LLC reissued a “buy” rating and set a $120.00 target price on shares of Roku in a research note on Monday, March 24th. Wells Fargo & Company upgraded shares of Roku from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $74.00 to $129.00 in a research report on Friday, February 14th. JMP Securities raised their price objective on shares of Roku from $95.00 to $115.00 and gave the company a “market outperform” rating in a research note on Friday, February 14th. Finally, Pivotal Research raised Roku from a “hold” rating to a “buy” rating and boosted their target price for the stock from $65.00 to $125.00 in a report on Friday, February 14th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $96.55.

Roku Stock Down 4.7 %

ROKU opened at $72.49 on Monday. The firm has a market capitalization of $10.58 billion, a P/E ratio of -81.45 and a beta of 2.12. The stock has a fifty day moving average of $81.10 and a 200-day moving average of $77.72. Roku, Inc. has a 12-month low of $48.33 and a 12-month high of $104.96.

Roku (NASDAQ:ROKU) last announced its quarterly earnings data on Thursday, February 13th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.20. Roku had a negative return on equity of 5.34% and a negative net margin of 3.15%. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.15 billion. On average, analysts expect that Roku, Inc. will post -0.3 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Roku news, CAO Matthew C. Banks sold 1,906 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $80.36, for a total value of $153,166.16. Following the completion of the sale, the chief accounting officer now owns 7,256 shares in the company, valued at $583,092.16. This represents a 20.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction on Friday, January 10th. The shares were sold at an average price of $79.77, for a total value of $1,994,250.00. Following the sale, the chief executive officer now directly owns 26,538 shares of the company’s stock, valued at approximately $2,116,936.26. The trade was a 48.51 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 97,908 shares of company stock worth $8,633,436. 13.98% of the stock is owned by company insiders.

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.