Franklin Resources Inc. trimmed its stake in shares of Roku, Inc. (NASDAQ:ROKU - Free Report) by 70.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,615 shares of the company's stock after selling 57,555 shares during the period. Franklin Resources Inc.'s holdings in Roku were worth $1,830,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also recently made changes to their positions in the stock. Geneos Wealth Management Inc. boosted its holdings in shares of Roku by 369.9% in the fourth quarter. Geneos Wealth Management Inc. now owns 343 shares of the company's stock worth $25,000 after buying an additional 270 shares during the last quarter. Vision Financial Markets LLC purchased a new position in shares of Roku during the 4th quarter worth $30,000. Game Plan Financial Advisors LLC bought a new stake in shares of Roku during the 4th quarter valued at $37,000. Harvest Fund Management Co. Ltd increased its stake in shares of Roku by 4,091.7% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 503 shares of the company's stock worth $37,000 after purchasing an additional 491 shares in the last quarter. Finally, Allianz SE bought a new position in Roku in the 4th quarter worth $39,000. 86.30% of the stock is owned by hedge funds and other institutional investors.
Roku Price Performance
Shares of Roku stock traded down $0.24 during trading hours on Thursday, reaching $58.16. The company's stock had a trading volume of 626,262 shares, compared to its average volume of 3,787,581. The firm has a 50 day moving average price of $75.08 and a 200-day moving average price of $76.24. The stock has a market cap of $8.49 billion, a P/E ratio of -65.37 and a beta of 2.17. Roku, Inc. has a one year low of $48.33 and a one year high of $104.96.
Roku (NASDAQ:ROKU - Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $1.20 billion for the quarter, compared to analysts' expectations of $1.15 billion. Roku had a negative return on equity of 5.34% and a negative net margin of 3.15%. As a group, sell-side analysts forecast that Roku, Inc. will post -0.3 EPS for the current fiscal year.
Insider Activity at Roku
In related news, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $87.93, for a total value of $2,198,250.00. Following the sale, the chief executive officer now directly owns 26,538 shares of the company's stock, valued at $2,333,486.34. This represents a 48.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Matthew C. Banks sold 1,906 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $80.36, for a total value of $153,166.16. Following the transaction, the chief accounting officer now owns 7,256 shares of the company's stock, valued at $583,092.16. This trade represents a 20.80 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 71,905 shares of company stock worth $6,560,876. Company insiders own 13.98% of the company's stock.
Analyst Ratings Changes
Several analysts have issued reports on ROKU shares. Benchmark boosted their price target on Roku from $100.00 to $130.00 and gave the company a "buy" rating in a report on Friday, February 14th. Bank of America started coverage on shares of Roku in a report on Thursday, March 27th. They issued a "buy" rating and a $100.00 target price for the company. Wedbush reaffirmed an "outperform" rating and set a $100.00 price target on shares of Roku in a report on Monday, February 10th. Compass Point assumed coverage on shares of Roku in a research report on Sunday, March 23rd. They issued a "buy" rating for the company. Finally, Citigroup upgraded shares of Roku from a "neutral" rating to an "outperform" rating in a research report on Sunday, March 23rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Roku currently has a consensus rating of "Moderate Buy" and a consensus target price of $94.11.
Read Our Latest Analysis on ROKU
About Roku
(
Free Report)
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.
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