Ardmore Road Asset Management LP Has $14.42 Million Stock Position in Roku, Inc. (NASDAQ:ROKU)

Ardmore Road Asset Management LP trimmed its stake in shares of Roku, Inc. (NASDAQ:ROKU - Free Report) by 22.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 193,976 shares of the company's stock after selling 56,024 shares during the quarter. Roku accounts for 2.1% of Ardmore Road Asset Management LP's portfolio, making the stock its 22nd largest holding. Ardmore Road Asset Management LP owned approximately 0.13% of Roku worth $14,420,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ROKU. Vanguard Group Inc. boosted its stake in Roku by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 12,249,091 shares of the company's stock valued at $910,597,000 after buying an additional 185,676 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Roku by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 2,147,259 shares of the company's stock valued at $159,353,000 after purchasing an additional 56,820 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Roku by 3.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 990,867 shares of the company's stock worth $73,661,000 after purchasing an additional 34,898 shares during the last quarter. Point72 Asset Management L.P. increased its position 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 worth $48,653,000 after purchasing an additional 507,643 shares in the last quarter. Finally, Jupiter Asset Management Ltd. lifted its holdings in Roku by 164.5% during the 4th quarter. Jupiter Asset Management Ltd. now owns 506,351 shares of the company's stock valued at $37,642,000 after purchasing an additional 314,931 shares during the last quarter. 86.30% of the stock is currently owned by institutional investors.

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Analysts Set New Price Targets

ROKU has been the topic of several research analyst reports. Bank of America began coverage on shares of Roku in a research note on Thursday, March 27th. They set a "buy" rating and a $100.00 price objective on the stock. Citizens Jmp raised Roku to a "strong-buy" rating in a report on Tuesday, January 21st. Wells Fargo & Company raised Roku from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $74.00 to $129.00 in a research note on Friday, February 14th. Wedbush restated an "outperform" rating and set a $100.00 target price on shares of Roku in a report on Monday, February 10th. Finally, Jefferies Financial Group raised Roku from an "underperform" rating to a "hold" rating and lifted their price target for the company from $55.00 to $100.00 in a report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, Roku has a consensus rating of "Moderate Buy" and a consensus target price of $96.55.

Roku Trading Down 8.3 %

Shares of ROKU stock traded down $4.98 on Friday, reaching $55.28. The company had a trading volume of 6,952,192 shares, compared to its average volume of 3,732,671. The company has a 50-day moving average of $79.65 and a 200-day moving average of $77.39. Roku, Inc. has a 12 month low of $48.33 and a 12 month high of $104.96. The stock has a market cap of $8.07 billion, a PE ratio of -62.11 and a beta of 2.17.

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

Insiders Place Their Bets

In other news, CEO Anthony J. Wood sold 25,000 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 26,538 shares in the company, valued at $2,116,936.26. This represents a 48.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Charles Collier sold 7,181 shares of the stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $78.25, for a total value of $561,913.25. Following the transaction, the insider now owns 7,380 shares of the company's stock, valued at approximately $577,485. The trade was a 49.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 97,905 shares of company stock worth $8,632,306 over the last ninety days. 13.98% of the stock is currently owned by corporate insiders.

Roku Company 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.