Ardmore Road Asset Management LP Sells 56,024 Shares of Roku, Inc. (NASDAQ:ROKU)

Ardmore Road Asset Management LP lowered its position in Roku, Inc. (NASDAQ:ROKU) by 22.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 193,976 shares of the company’s stock after selling 56,024 shares during the quarter. Roku makes up about 2.1% of Ardmore Road Asset Management LP’s investment portfolio, making the stock its 22nd largest holding. Ardmore Road Asset Management LP’s holdings in Roku were worth $14,420,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Geneos Wealth Management Inc. lifted its stake in Roku by 369.9% in the 4th quarter. Geneos Wealth Management Inc. now owns 343 shares of the company’s stock valued at $25,000 after purchasing an additional 270 shares during the last quarter. Vision Financial Markets LLC bought a new stake in Roku in the fourth quarter valued at approximately $30,000. Raelipskie Partnership acquired a new stake in shares of Roku in the third quarter valued at approximately $32,000. Game Plan Financial Advisors LLC bought a new position in shares of Roku during the 4th quarter worth approximately $37,000. Finally, Harvest Fund Management Co. Ltd increased its holdings in shares of Roku by 4,091.7% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 503 shares of the company’s stock worth $37,000 after acquiring an additional 491 shares during the last quarter. 86.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $79.77, for a total transaction of $1,994,250.00. Following the sale, the chief executive officer now directly owns 26,538 shares in the company, valued at $2,116,936.26. This trade represents a 48.51 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Dan Jedda sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $75.00, for a total transaction of $75,000.00. Following the completion of the transaction, the chief financial officer now owns 68,843 shares of the company’s stock, valued at approximately $5,163,225. This trade represents a 1.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 97,908 shares of company stock valued at $8,633,436. 13.98% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

ROKU has been the subject of a number of research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $120.00 price objective on shares of Roku in a research report on Monday, March 24th. Citizens Jmp upgraded shares of Roku to a “strong-buy” rating in a research note on Tuesday, January 21st. Loop Capital raised their price objective on shares of Roku from $70.00 to $80.00 and gave the stock a “hold” rating in a research report on Monday, December 9th. Jefferies Financial Group upgraded Roku from an “underperform” rating to a “hold” rating and increased their target price for the stock from $55.00 to $100.00 in a research note on Thursday, February 20th. Finally, Citigroup upgraded Roku from a “neutral” rating to an “outperform” rating in a research note on Sunday, March 23rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, Roku presently has a consensus rating of “Moderate Buy” and an average target price of $96.55.

Roku Trading Up 0.2 %

Shares of Roku stock opened at $70.60 on Wednesday. The firm has a market capitalization of $10.30 billion, a PE ratio of -79.33 and a beta of 2.12. The firm’s 50 day moving average is $80.80 and its 200 day moving average is $77.67. Roku, Inc. has a 1 year low of $48.33 and a 1 year high of $104.96.

Roku (NASDAQ:ROKU) last announced its quarterly earnings results on Thursday, February 13th. The company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.15 billion. As a group, research analysts anticipate that Roku, Inc. will post -0.3 earnings per share for the current year.

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.