Quadrature Capital Ltd Purchases New Stake in Roku, Inc. (NASDAQ:ROKU)

Quadrature Capital Ltd purchased a new stake in shares of Roku, Inc. (NASDAQ:ROKU - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 68,481 shares of the company's stock, valued at approximately $5,113,000.

A number of other hedge funds and other institutional investors have also modified their holdings of ROKU. EverSource Wealth Advisors LLC raised its holdings in shares of Roku by 123.4% during the 2nd 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 valued at $43,000. GS Investments Inc. raised its holdings in Roku by 33.4% in the 3rd quarter. GS Investments Inc. now owns 587 shares of the company's stock worth $44,000 after acquiring an additional 147 shares during the period. Cedar Wealth Management LLC bought a new position in Roku in the 2nd quarter worth $48,000. Finally, AM Squared Ltd bought a new position in Roku in the 2nd quarter worth $66,000. Institutional investors own 86.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ROKU. Wells Fargo & Company lifted their target price on shares of Roku from $72.00 to $74.00 and gave the stock an "equal weight" rating in a report on Thursday, October 31st. Citigroup lifted their target price on shares of Roku from $60.00 to $77.00 and gave the stock a "neutral" rating in a report on Wednesday, September 25th. Bank of America lifted their target price on shares of Roku from $75.00 to $90.00 and gave the stock a "buy" rating in a report on Monday, September 30th. Macquarie reiterated an "outperform" rating and issued a $90.00 target price on shares of Roku in a report on Thursday, October 31st. Finally, JPMorgan Chase & Co. raised their price target on shares of Roku from $90.00 to $92.00 and gave the stock an "overweight" rating in a research report on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $83.33.

Insiders Place Their Bets

In related news, CEO Anthony J. Wood sold 25,000 shares of the business's stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $77.20, for a total value of $1,930,000.00. Following the completion of the transaction, the chief executive officer now owns 5,020 shares of the company's stock, valued at $387,544. The trade was a 83.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Charles Collier sold 15,454 shares of the business's stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $75.00, for a total value of $1,159,050.00. Following the completion of the transaction, the insider now directly owns 200 shares of the company's stock, valued at approximately $15,000. This trade represents a 98.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 88,550 shares of company stock valued at $6,621,873 over the last ninety days. 13.98% of the stock is currently owned by company insiders.

Roku Price Performance

Shares of Roku stock traded up $2.09 during trading hours on Friday, hitting $84.12. The company's stock had a trading volume of 4,223,049 shares, compared to its average volume of 4,445,497. The company has a market capitalization of $12.21 billion, a PE ratio of -70.10 and a beta of 2.06. The stock has a 50 day moving average of $74.22 and a 200 day moving average of $66.00. Roku, Inc. has a 12 month low of $48.33 and a 12 month high of $108.84.

Roku (NASDAQ:ROKU - Get Free Report) last announced its earnings results on Wednesday, October 30th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.29. Roku had a negative net margin of 4.42% and a negative return on equity of 7.22%. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same period last year, the company posted ($2.33) EPS. The business's quarterly revenue was up 16.5% on a year-over-year basis. Equities analysts expect that Roku, Inc. will post -1.1 EPS for the current 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.