Quadrature Capital Ltd Purchases New Stake in Roku, Inc. (NASDAQ:ROKU)

Quadrature Capital Ltd purchased a new stake in Roku, Inc. (NASDAQ:ROKU) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 68,481 shares of the company’s stock, valued at approximately $5,113,000.

Several other institutional investors have also recently added to or reduced their stakes in ROKU. Cetera Investment Advisers raised its holdings in Roku by 240.3% in the first quarter. Cetera Investment Advisers now owns 41,805 shares of the company’s stock valued at $2,724,000 after acquiring an additional 29,521 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new stake in shares of Roku during the second quarter worth $496,000. SG Americas Securities LLC raised its holdings in shares of Roku by 238.6% during the second quarter. SG Americas Securities LLC now owns 73,528 shares of the company’s stock worth $4,407,000 after purchasing an additional 51,815 shares during the period. Gateway Investment Advisers LLC raised its holdings in shares of Roku by 7.2% during the second quarter. Gateway Investment Advisers LLC now owns 14,745 shares of the company’s stock worth $884,000 after purchasing an additional 984 shares during the period. Finally, Granite Bay Wealth Management LLC acquired a new stake in shares of Roku during the second quarter worth $1,142,000. 86.30% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CAO Matthew C. Banks sold 8,693 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $71.44, for a total value of $621,027.92. Following the sale, the chief accounting officer now directly owns 7,264 shares of the company’s stock, valued at $518,940.16. This trade represents a 54.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Charles Collier sold 15,454 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $75.00, for a total value of $1,159,050.00. Following the completion of the sale, the insider now directly owns 200 shares in the company, valued at $15,000. This trade represents a 98.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 88,550 shares of company stock worth $6,621,873 in the last 90 days. Company insiders own 13.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ROKU. Wedbush increased their target price on shares of Roku from $75.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Rosenblatt Securities increased their target price on shares of Roku from $61.00 to $86.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Guggenheim raised shares of Roku from a “neutral” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Friday, August 23rd. Citigroup upped their price target on shares of Roku from $60.00 to $77.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Finally, Moffett Nathanson upgraded shares of Roku from a “sell” rating to a “neutral” rating and set a $80.00 price target for the company in a research report on Tuesday, October 1st. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Roku currently has a consensus rating of “Moderate Buy” and an average target price of $82.62.

Roku Trading Down 1.1 %

ROKU opened at $82.03 on Friday. Roku, Inc. has a 1-year low of $48.33 and a 1-year high of $108.84. The stock’s fifty day simple moving average is $74.03 and its 200 day simple moving average is $65.83. The stock has a market cap of $11.91 billion, a PE ratio of -68.36 and a beta of 2.06.

Roku (NASDAQ:ROKU) last posted 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 return on equity of 7.22% and a negative net margin of 4.42%. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the prior year, the business earned ($2.33) EPS. The firm’s revenue for the quarter was up 16.5% on a year-over-year basis. Equities analysts forecast that Roku, Inc. will post -1.1 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.