Greenland Capital Management LP Decreases Position in Roku, Inc. (NASDAQ:ROKU)

Greenland Capital Management LP cut its stake in shares of Roku, Inc. (NASDAQ:ROKU - Free Report) by 63.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,647 shares of the company's stock after selling 9,675 shares during the period. Greenland Capital Management LP's holdings in Roku were worth $420,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of ROKU. FMR LLC lifted its position in shares of Roku by 31.7% during the fourth quarter. FMR LLC now owns 19,183,942 shares of the company's stock valued at $1,426,134,000 after purchasing an additional 4,613,570 shares in the last quarter. Vanguard Group Inc. increased 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 during the last quarter. Geode Capital Management LLC lifted its position in shares of Roku by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 2,147,259 shares of the company's stock worth $159,353,000 after buying an additional 56,820 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Roku by 38.0% in the 4th quarter. Renaissance Technologies LLC now owns 1,296,900 shares of the company's stock worth $96,412,000 after buying an additional 357,100 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of 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 acquiring an additional 34,898 shares in the last quarter. 86.30% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Charles Collier sold 7,181 shares of the stock in a transaction on 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 $577,485. This represents a 49.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Dan Jedda sold 1,000 shares of the firm's stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $77.18, for a total value of $77,180.00. Following the sale, the chief financial officer now owns 63,555 shares in the company, valued at $4,905,174.90. The trade was a 1.55 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 72,905 shares of company stock worth $6,638,056. Insiders own 13.98% of the company's stock.

Roku Trading Up 1.6 %

Shares of ROKU traded up $0.95 during mid-day trading on Friday, reaching $60.22. 5,282,089 shares of the stock traded hands, compared to its average volume of 3,806,126. The company has a market cap of $8.79 billion, a price-to-earnings ratio of -67.66 and a beta of 2.17. Roku, Inc. has a 1 year low of $48.33 and a 1 year high of $104.96. The firm has a fifty day moving average price of $76.49 and a 200 day moving average price of $76.59.

Roku (NASDAQ:ROKU - Get Free Report) last posted 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 business had revenue of $1.20 billion during 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%. On average, sell-side analysts anticipate that Roku, Inc. will post -0.3 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on ROKU. FBN Securities initiated coverage on Roku in a research report on Friday, March 28th. They issued an "outperform" rating and a $93.00 price objective on the stock. JPMorgan Chase & Co. boosted their price target on shares of Roku from $92.00 to $115.00 and gave the stock an "overweight" rating in a report on Friday, February 14th. JMP Securities raised their price objective on shares of Roku from $95.00 to $115.00 and gave the stock a "market outperform" rating in a report on Friday, February 14th. Pivotal Research upgraded shares of Roku from a "hold" rating to a "buy" rating and boosted their target price for the company from $65.00 to $125.00 in a research note on Friday, February 14th. Finally, Bank of America started coverage on shares of Roku in a research note on Thursday, March 27th. They set a "buy" rating and a $100.00 price target for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $96.70.

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.