58,522 Shares in Roku, Inc. (NASDAQ:ROKU) Bought by Norges Bank

Norges Bank bought a new position in shares of Roku, Inc. (NASDAQ:ROKU - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 58,522 shares of the company's stock, valued at approximately $4,351,000.

Several other institutional investors also recently modified their holdings of ROKU. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its stake in Roku by 127.7% during the 4th quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 31,289 shares of the company's stock worth $2,326,000 after acquiring an additional 17,550 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Roku by 16.9% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 95,437 shares of the company's stock worth $7,385,000 after purchasing an additional 13,799 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of Roku by 22.1% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 71,315 shares of the company's stock valued at $5,302,000 after buying an additional 12,893 shares during the period. Vanguard Group Inc. increased its position in shares of 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. Finally, LPL Financial LLC raised its stake in Roku by 10.4% during the 4th quarter. LPL Financial LLC now owns 130,437 shares of the company's stock worth $9,697,000 after buying an additional 12,298 shares during the period. 86.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on ROKU shares. Needham & Company LLC restated a "buy" rating and issued a $120.00 price target on shares of Roku in a report on Monday, March 24th. Benchmark raised their target price on shares of Roku from $100.00 to $130.00 and gave the stock a "buy" rating in a report on Friday, February 14th. Citizens Jmp upgraded shares of Roku to a "strong-buy" rating in a report on Tuesday, January 21st. Compass Point started coverage on shares of Roku in a report on Sunday, March 23rd. They set a "buy" rating on the stock. Finally, JPMorgan Chase & Co. upped their target price on shares of Roku from $92.00 to $115.00 and gave the stock an "overweight" rating in a research note on Friday, February 14th. One research analyst has rated the stock with a sell rating, five have given a hold rating, eighteen have issued a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, Roku presently has an average rating of "Moderate Buy" and an average price target of $96.70.

Insiders Place Their Bets

In other Roku news, CAO Matthew C. Banks sold 1,906 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were 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. This represents a 20.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Charles Collier sold 7,181 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $78.25, for a total transaction of $561,913.25. Following the transaction, the insider now directly owns 7,380 shares in the company, valued at $577,485. This represents a 49.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 72,905 shares of company stock worth $6,638,056 in the last 90 days. Company insiders own 13.98% of the company's stock.

Roku Stock Performance

ROKU traded up $0.95 on Friday, reaching $60.22. The company had a trading volume of 5,282,089 shares, compared to its average volume of 3,806,126. The stock has a market cap of $8.79 billion, a P/E ratio of -67.66 and a beta of 2.17. Roku, Inc. has a fifty-two week low of $48.33 and a fifty-two week high of $104.96. The company's fifty day moving average is $76.49 and its 200 day moving average is $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, beating the consensus estimate of ($0.44) by $0.20. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate 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 expect that Roku, Inc. will post -0.3 EPS for the current year.

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.