Point72 Asset Management L.P. Purchases 507,643 Shares of Roku, Inc. (NASDAQ:ROKU)

Point72 Asset Management L.P. boosted its position in shares of Roku, Inc. (NASDAQ:ROKU - Free Report) by 352.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 651,658 shares of the company's stock after purchasing an additional 507,643 shares during the quarter. Point72 Asset Management L.P. owned 0.45% of Roku worth $48,653,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its position in shares of Roku by 123.4% during the second quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company's stock worth $40,000 after purchasing an additional 375 shares during the period. Future Financial Wealth Managment LLC acquired a new stake in Roku during the 3rd quarter worth approximately $43,000. GS Investments Inc. lifted its stake in Roku by 33.4% in the third quarter. GS Investments Inc. now owns 587 shares of the company's stock valued at $44,000 after buying an additional 147 shares in the last quarter. Cedar Wealth Management LLC acquired a new position in shares of Roku in the second quarter valued at approximately $48,000. Finally, AM Squared Ltd bought a new stake in shares of Roku during the second quarter worth $66,000. Institutional investors own 86.30% of the company's stock.

Roku Stock Down 1.1 %

Shares of NASDAQ ROKU traded down $0.91 during midday trading on Thursday, hitting $82.03. 4,288,745 shares of the company's stock were exchanged, compared to its average volume of 4,446,438. The firm has a market capitalization of $11.91 billion, a PE ratio of -68.36 and a beta of 2.06. Roku, Inc. has a 12 month low of $48.33 and a 12 month high of $108.84. The company's 50 day moving average price is $74.03 and its 200 day moving average price is $65.83.

Roku (NASDAQ:ROKU - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.35) by $0.29. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.02 billion. Roku had a negative net margin of 4.42% and a negative return on equity of 7.22%. The company's quarterly revenue was up 16.5% on a year-over-year basis. During the same period in the previous year, the company earned ($2.33) earnings per share. On average, equities research analysts anticipate that Roku, Inc. will post -1.1 EPS for the current year.

Insider Activity at Roku

In other news, CFO Dan Jedda sold 1,000 shares of Roku stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $76.25, for a total transaction of $76,250.00. Following the completion of the sale, the chief financial officer now owns 53,267 shares of the company's stock, valued at approximately $4,061,608.75. This trade represents a 1.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of the company's stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the completion of the transaction, the chief executive officer now owns 5,020 shares in the company, valued at $376,500. This trade represents a 83.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 88,550 shares of company stock worth $6,621,873. Insiders own 13.98% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Baird R W raised shares of Roku from a "hold" rating to a "strong-buy" rating in a research report on Monday, November 18th. Robert W. Baird upgraded Roku from a "neutral" rating to an "outperform" rating and boosted their price target for the company from $70.00 to $90.00 in a report on Monday, November 18th. Macquarie reiterated an "outperform" rating and set a $90.00 price objective on shares of Roku in a report on Thursday, October 31st. Jefferies Financial Group dropped their target price on Roku from $60.00 to $55.00 and set an "underperform" rating on the stock in a research report on Friday, November 1st. Finally, Rosenblatt Securities upped their price target on Roku from $61.00 to $86.00 and gave the stock a "neutral" rating in a research report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $82.62.

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.