Vanguard Group Inc. Boosts Stock Position in Roku, Inc. (NASDAQ:ROKU)

Vanguard Group Inc. grew its holdings in shares of Roku, Inc. (NASDAQ:ROKU) by 1.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,249,091 shares of the company’s stock after buying an additional 185,676 shares during the period. Vanguard Group Inc. owned 0.08% of Roku worth $910,597,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in ROKU. Holocene Advisors LP acquired a new stake in shares of Roku during the 3rd quarter worth about $129,015,000. Charles Schwab Investment Management Inc. increased its stake in Roku by 3.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 990,867 shares of the company’s stock valued at $73,661,000 after purchasing an additional 34,898 shares during the last quarter. Point72 Asset Management L.P. raised its holdings in Roku by 352.5% during the third quarter. Point72 Asset Management L.P. now owns 651,658 shares of the company’s stock worth $48,653,000 after purchasing an additional 507,643 shares in the last quarter. JAT Capital Mgmt LP lifted its position in shares of Roku by 470.2% during the 3rd quarter. JAT Capital Mgmt LP now owns 540,577 shares of the company’s stock worth $40,359,000 after buying an additional 445,777 shares during the last quarter. Finally, Jupiter Asset Management Ltd. boosted its holdings in shares of Roku by 164.5% in the 4th quarter. Jupiter Asset Management Ltd. now owns 506,351 shares of the company’s stock valued at $37,642,000 after buying an additional 314,931 shares in the last quarter. 86.30% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ROKU has been the topic of several research analyst reports. FBN Securities assumed coverage on shares of Roku in a research note on Friday. They set an “outperform” rating and a $93.00 price target on the stock. Jefferies Financial Group upgraded Roku from an “underperform” rating to a “hold” rating and lifted their target price for the stock from $55.00 to $100.00 in a research report on Thursday, February 20th. Moffett Nathanson raised Roku from a “sell” rating to a “neutral” rating and set a $70.00 target price for the company in a research report on Tuesday, March 4th. Citizens Jmp raised Roku to a “strong-buy” rating in a research report on Tuesday, January 21st. Finally, Pivotal Research raised Roku from a “hold” rating to a “buy” rating and increased their price objective for the company from $65.00 to $125.00 in a report on Friday, February 14th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $96.55.

Insider Buying and Selling

In other 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 completion of the sale, the chief executive officer now directly owns 26,538 shares in the company, valued at approximately $2,116,936.26. This trade represents a 48.51 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Dan Jedda sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $100.40, for a total value of $502,000.00. Following the completion of the transaction, the chief financial officer now directly owns 58,555 shares of the company’s stock, valued at $5,878,922. The trade was a 7.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 97,908 shares of company stock valued at $8,633,436. Corporate insiders own 13.98% of the company’s stock.

Roku Price Performance

ROKU opened at $72.49 on Friday. The business has a 50 day simple moving average of $81.10 and a 200-day simple moving average of $77.59. Roku, Inc. has a 12 month low of $48.33 and a 12 month high of $104.96. The stock has a market capitalization of $10.58 billion, a P/E ratio of -81.45 and a beta of 2.12.

Roku (NASDAQ:ROKU) last issued its earnings results on Thursday, February 13th. The company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.44) by $0.20. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.15 billion. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. Research analysts anticipate that Roku, Inc. will post -0.3 EPS for the current 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.