Raymond James Financial Inc. Buys Shares of 39,687 Roku, Inc. (NASDAQ:ROKU)

Raymond James Financial Inc. acquired a new position in shares of Roku, Inc. (NASDAQ:ROKU - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 39,687 shares of the company's stock, valued at approximately $2,950,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vision Financial Markets LLC purchased a new stake in Roku in the 4th quarter valued at approximately $30,000. Arizona State Retirement System raised its stake in Roku by 1.7% in the 4th quarter. Arizona State Retirement System now owns 36,986 shares of the company's stock valued at $2,750,000 after purchasing an additional 612 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Roku during the 4th quarter worth about $3,377,000. M&T Bank Corp grew its position in shares of Roku by 7.2% in the fourth quarter. M&T Bank Corp now owns 7,527 shares of the company's stock valued at $560,000 after purchasing an additional 503 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Roku by 3.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 990,867 shares of the company's stock worth $73,661,000 after buying an additional 34,898 shares during the period. Hedge funds and other institutional investors own 86.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Citigroup upgraded shares of Roku from a "neutral" rating to an "outperform" rating in a report on Sunday, March 23rd. Pivotal Research upgraded Roku from a "hold" rating to a "buy" rating and upped their price objective for the stock from $65.00 to $125.00 in a report on Friday, February 14th. Wedbush reissued an "outperform" rating and set a $100.00 price target on shares of Roku in a research report on Monday, February 10th. Citizens Jmp upgraded Roku to a "strong-buy" rating in a report on Tuesday, January 21st. Finally, UBS Group raised shares of Roku from a "hold" rating to a "strong-buy" rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $96.55.

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Insider Activity

In other Roku news, CEO Anthony J. Wood sold 25,000 shares of the business's stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $79.77, for a total transaction of $1,994,250.00. Following the sale, the chief executive officer now directly owns 26,538 shares in the company, valued at approximately $2,116,936.26. The trade was a 48.51 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Dan Jedda sold 1,000 shares of the firm's stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $75.00, for a total transaction of $75,000.00. Following the transaction, the chief financial officer now owns 68,843 shares in the company, valued at $5,163,225. This represents a 1.43 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 97,908 shares of company stock valued at $8,633,436. Company insiders own 13.98% of the company's stock.

Roku Stock Performance

Shares of Roku stock traded down $1.79 during trading on Monday, hitting $70.71. 1,721,571 shares of the stock were exchanged, compared to its average volume of 3,704,839. The stock has a market cap of $10.32 billion, a PE ratio of -79.32 and a beta of 2.12. The stock's fifty day moving average is $81.10 and its 200 day moving average is $77.72. Roku, Inc. has a 12 month low of $48.33 and a 12 month high of $104.96.

Roku (NASDAQ:ROKU - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The company reported ($0.24) earnings per share for the quarter, beating analysts' consensus estimates 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 company had revenue of $1.20 billion for the quarter, compared to analysts' expectations of $1.15 billion. Sell-side analysts anticipate that Roku, Inc. will post -0.3 EPS for the current fiscal 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.