Roku, Inc. (NASDAQ:ROKU) is Empirical Capital Management LLC's Largest Position

Empirical Capital Management LLC raised its stake in shares of Roku, Inc. (NASDAQ:ROKU - Free Report) by 60.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 283,200 shares of the company's stock after acquiring an additional 106,200 shares during the period. Roku makes up 14.8% of Empirical Capital Management LLC's holdings, making the stock its biggest holding. Empirical Capital Management LLC owned approximately 0.20% of Roku worth $21,144,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. SG Americas Securities LLC increased its stake in Roku by 238.6% during the 2nd quarter. SG Americas Securities LLC now owns 73,528 shares of the company's stock worth $4,407,000 after buying an additional 51,815 shares during the period. Kessler Investment Group LLC increased its stake in Roku by 21.8% during the 3rd quarter. Kessler Investment Group LLC now owns 75,968 shares of the company's stock worth $5,672,000 after buying an additional 13,590 shares during the period. Holocene Advisors LP purchased a new stake in Roku during the 3rd quarter worth approximately $129,015,000. Cetera Investment Advisers increased its stake in Roku by 240.3% during the 1st quarter. Cetera Investment Advisers now owns 41,805 shares of the company's stock worth $2,724,000 after buying an additional 29,521 shares during the period. Finally, EULAV Asset Management increased its stake in Roku by 59.1% during the 3rd quarter. EULAV Asset Management now owns 183,000 shares of the company's stock worth $13,663,000 after buying an additional 68,000 shares during the period. 86.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ROKU has been the topic of several recent research reports. Guggenheim raised shares of Roku from a "neutral" rating to a "buy" rating and set a $75.00 target price on the stock in a research note on Friday, August 23rd. Robert W. Baird raised shares of Roku from a "neutral" rating to an "outperform" rating and upped their target price for the stock from $70.00 to $90.00 in a research note on Monday, November 18th. Benchmark reiterated a "buy" rating and set a $105.00 price target on shares of Roku in a report on Thursday, September 12th. Wolfe Research upgraded shares of Roku from a "peer perform" rating to an "outperform" rating and set a $93.00 price target for the company in a report on Thursday, September 12th. Finally, Wells Fargo & Company boosted their price target 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. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Roku has an average rating of "Moderate Buy" and an average price target of $83.33.

Roku Stock Up 2.5 %

NASDAQ:ROKU traded up $2.09 during trading hours on Friday, reaching $84.12. 4,223,049 shares of the company's stock were exchanged, compared to its average volume of 4,445,497. The firm has a market capitalization of $12.21 billion, a price-to-earnings ratio of -69.20 and a beta of 2.06. The company has a 50-day moving average of $74.03 and a 200 day moving average of $65.83. Roku, Inc. has a 1-year low of $48.33 and a 1-year high of $108.84.

Roku (NASDAQ:ROKU - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share for the quarter, topping analysts' consensus estimates of ($0.35) by $0.29. The firm 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%. Roku's quarterly revenue was up 16.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($2.33) EPS. Research analysts forecast that Roku, Inc. will post -1.1 EPS for the current fiscal year.

Insider Buying and Selling

In other Roku news, insider Charles Collier sold 15,454 shares of the company's stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $75.00, for a total transaction of $1,159,050.00. Following the completion of the transaction, the insider now owns 200 shares in the company, valued at approximately $15,000. This represents a 98.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of the company's stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the transaction, the chief executive officer now owns 5,020 shares of the company's stock, valued at approximately $376,500. The trade was a 83.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 88,550 shares of company stock worth $6,621,873 in the last 90 days. Company insiders own 13.98% of the company's stock.

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.