74,600 Shares in Roku, Inc. (NASDAQ:ROKU) Acquired by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS purchased a new position in Roku, Inc. (NASDAQ:ROKU - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 74,600 shares of the company's stock, valued at approximately $5,546,000. KLP Kapitalforvaltning AS owned about 0.05% of Roku at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Holocene Advisors LP acquired a new position in Roku in the 3rd quarter worth about $129,015,000. Point72 Asset Management L.P. increased its holdings in Roku by 352.5% in the third quarter. Point72 Asset Management L.P. now owns 651,658 shares of the company's stock worth $48,653,000 after buying an additional 507,643 shares during the last quarter. JAT Capital Mgmt LP raised its position in Roku by 470.2% during the third quarter. JAT Capital Mgmt LP now owns 540,577 shares of the company's stock valued at $40,359,000 after acquiring an additional 445,777 shares in the last quarter. Jupiter Asset Management Ltd. lifted its stake in Roku by 164.5% in the fourth quarter. Jupiter Asset Management Ltd. now owns 506,351 shares of the company's stock valued at $37,642,000 after acquiring an additional 314,931 shares during the last quarter. Finally, FMR LLC grew its position in Roku by 1.7% in the third quarter. FMR LLC now owns 14,570,372 shares of the company's stock worth $1,087,824,000 after acquiring an additional 244,793 shares in the last quarter. 86.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ROKU has been the subject of several analyst reports. Pivotal Research raised shares of Roku from a "hold" rating to a "buy" rating and lifted their price objective for the company from $65.00 to $125.00 in a research note on Friday, February 14th. Jefferies Financial Group raised Roku from an "underperform" rating to a "hold" rating and boosted their price target for the stock from $55.00 to $100.00 in a research report on Thursday, February 20th. JPMorgan Chase & Co. increased their price objective on Roku from $92.00 to $115.00 and gave the company an "overweight" rating in a report on Friday, February 14th. Loop Capital boosted their target price on Roku from $70.00 to $80.00 and gave the stock a "hold" rating in a report on Monday, December 9th. Finally, Rosenblatt Securities reiterated a "neutral" rating and set a $86.00 price target on shares of Roku in a report on Thursday, February 13th. One analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, Roku currently has an average rating of "Moderate Buy" and a consensus price target of $96.55.

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Insider Activity at Roku

In other Roku news, CEO Anthony J. Wood sold 4,600 shares of the firm's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $75.00, for a total value of $345,000.00. Following the completion of the sale, the chief executive officer now owns 6,243 shares in the company, valued at approximately $468,225. This trade represents a 42.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Matthew C. Banks sold 1,906 shares of the company's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $80.36, for a total transaction of $153,166.16. Following the transaction, the chief accounting officer now owns 7,256 shares in the company, valued at $583,092.16. The trade was a 20.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 97,908 shares of company stock valued at $8,633,436 over the last ninety days. 13.98% of the stock is owned by insiders.

Roku Price Performance

Shares of ROKU traded down $3.56 during trading hours on Friday, hitting $72.49. The stock had a trading volume of 3,047,296 shares, compared to its average volume of 3,712,395. The stock has a market capitalization of $10.58 billion, a price-to-earnings ratio of -81.45 and a beta of 2.12. The company's fifty day moving average is $81.10 and its two-hundred day moving average is $77.67. Roku, Inc. has a 52 week low of $48.33 and a 52 week high of $104.96.

Roku (NASDAQ:ROKU - Get Free Report) last announced 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. Roku had a negative return on equity of 5.34% and a negative net margin of 3.15%. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.15 billion. Equities analysts predict that Roku, Inc. will post -0.3 EPS for the current fiscal year.

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.