Polar Asset Management Partners Inc. Purchases Shares of 39,600 Roku, Inc. (NASDAQ:ROKU)

Polar Asset Management Partners Inc. acquired a new position in Roku, Inc. (NASDAQ:ROKU - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 39,600 shares of the company's stock, valued at approximately $2,957,000.

Other institutional investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its holdings in Roku by 123.4% during the second quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company's stock valued at $40,000 after purchasing an additional 375 shares in the last quarter. Future Financial Wealth Managment LLC bought a new position in shares of Roku during the 3rd quarter worth approximately $43,000. GS Investments Inc. boosted its stake in Roku by 33.4% in the 3rd 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 bought a new stake in Roku in the second quarter valued at $48,000. Finally, AM Squared Ltd acquired a new position in Roku during the second quarter worth $66,000. Institutional investors and hedge funds own 86.30% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ROKU shares. Baird R W raised shares of Roku from a "hold" rating to a "strong-buy" rating in a report on Monday, November 18th. Moffett Nathanson raised shares of Roku from a "sell" rating to a "neutral" rating and set a $80.00 price objective on the stock in a research note on Tuesday, October 1st. Bank of America boosted their price objective on Roku from $75.00 to $90.00 and gave the stock a "buy" rating in a research note on Monday, September 30th. Rosenblatt Securities raised their target price on Roku from $61.00 to $86.00 and gave the company a "neutral" rating in a research note on Thursday, October 31st. Finally, Needham & Company LLC reiterated a "buy" rating and set a $100.00 price target on shares of Roku in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $83.33.

Insider Transactions at Roku

In other news, insider Charles Collier sold 10,771 shares of the company's stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $71.14, for a total transaction of $766,248.94. Following the completion of the transaction, the insider now directly owns 3,790 shares of the company's stock, valued at $269,620.60. This represents a 73.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Matthew C. Banks sold 8,693 shares of Roku stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $71.44, for a total value of $621,027.92. Following the completion of the sale, the chief accounting officer now directly owns 7,264 shares in the company, valued at approximately $518,940.16. This represents a 54.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 88,550 shares of company stock valued at $6,621,873 over the last 90 days. 13.98% of the stock is owned by company insiders.

Roku Stock Performance

NASDAQ:ROKU traded up $2.09 during trading hours on Friday, hitting $84.12. The stock had a trading volume of 4,223,049 shares, compared to its average volume of 4,445,497. The business's 50 day moving average is $74.03 and its 200-day moving average is $65.83. The company has a market cap of $12.21 billion, a price-to-earnings ratio of -69.20 and a beta of 2.06. Roku, Inc. has a one year low of $48.33 and a one year high of $108.84.

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 analysts' consensus estimates of ($0.35) by $0.29. The business had revenue of $1.06 billion during the quarter, compared to analysts' expectations of $1.02 billion. Roku had a negative net margin of 4.42% and a negative return on equity of 7.22%. The firm's quarterly revenue was up 16.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($2.33) EPS. On average, sell-side analysts anticipate that Roku, Inc. will post -1.1 EPS for the current fiscal year.

About Roku

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.