Readystate Asset Management LP Invests $16.01 Million in Roku, Inc. (NASDAQ:ROKU)

Readystate Asset Management LP purchased a new stake in shares of Roku, Inc. (NASDAQ:ROKU - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 214,379 shares of the company's stock, valued at approximately $16,006,000. Readystate Asset Management LP owned 0.15% of Roku as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Point72 Asset Management L.P. grew its stake in shares of 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 purchasing an additional 507,643 shares during the period. Polar Asset Management Partners Inc. bought a new position in shares of Roku during the 3rd quarter valued at approximately $2,957,000. IHT Wealth Management LLC grew its stake in shares of Roku by 762.3% during the 3rd quarter. IHT Wealth Management LLC now owns 29,819 shares of the company's stock valued at $2,226,000 after acquiring an additional 26,361 shares during the period. Integrated Wealth Concepts LLC grew its stake in shares of Roku by 26.9% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 20,890 shares of the company's stock valued at $1,560,000 after acquiring an additional 4,427 shares during the period. Finally, Investment Management Corp of Ontario bought a new position in shares of Roku during the 3rd quarter valued at approximately $318,000. 86.30% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Roku news, CAO Matthew C. Banks sold 8,693 shares of the stock in a transaction on 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 owns 7,264 shares in the company, valued at $518,940.16. This trade represents a 54.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Charles Collier sold 15,454 shares of the stock in a transaction on Thursday, September 12th. The stock was 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 owns 200 shares in the company, valued at approximately $15,000. The trade was a 98.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 88,550 shares of company stock worth $6,621,873 over the last quarter. Company insiders own 13.98% of the company's stock.

Roku Trading Down 3.0 %

NASDAQ:ROKU traded down $2.49 during midday trading on Thursday, hitting $80.45. 2,080,294 shares of the company traded hands, compared to its average volume of 4,436,940. The firm's fifty day moving average is $73.86 and its 200-day moving average is $65.72. Roku, Inc. has a 12-month low of $48.33 and a 12-month high of $108.84. The firm has a market capitalization of $11.68 billion, a P/E ratio of -67.47 and a beta of 2.06.

Roku (NASDAQ:ROKU - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the prior year, the firm posted ($2.33) EPS. Roku's quarterly revenue was up 16.5% compared to the same quarter last year. On average, research analysts expect that Roku, Inc. will post -1.1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Robert W. Baird upgraded Roku from a "neutral" rating to an "outperform" rating and boosted their price objective for the company from $70.00 to $90.00 in a research note on Monday, November 18th. Macquarie reiterated an "outperform" rating and set a $90.00 price objective on shares of Roku in a research note on Thursday, October 31st. Wolfe Research upgraded Roku from a "peer perform" rating to an "outperform" rating and set a $93.00 price target for the company in a research note on Thursday, September 12th. Jefferies Financial Group dropped their price target on Roku from $60.00 to $55.00 and set an "underperform" rating for the company in a research note on Friday, November 1st. Finally, Loop Capital upped their price target on Roku from $65.00 to $70.00 and gave the stock a "hold" rating in a research note on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $82.62.

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.