T. Rowe Price Investment Management Inc. Increases Stock Holdings in Roku, Inc. (NASDAQ:ROKU)

T. Rowe Price Investment Management Inc. increased its stake in shares of Roku, Inc. (NASDAQ:ROKU - Free Report) by 10.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,269,751 shares of the company's stock after purchasing an additional 215,841 shares during the period. T. Rowe Price Investment Management Inc. owned 1.56% of Roku worth $168,734,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Geneos Wealth Management Inc. boosted its stake in shares of Roku by 369.9% in the fourth quarter. Geneos Wealth Management Inc. now owns 343 shares of the company's stock worth $25,000 after acquiring an additional 270 shares during the last quarter. Vision Financial Markets LLC purchased a new stake in Roku during the 4th quarter valued at about $30,000. Game Plan Financial Advisors LLC acquired a new position in shares of Roku during the 4th quarter worth approximately $37,000. Harvest Fund Management Co. Ltd grew its position in shares of Roku by 4,091.7% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 503 shares of the company's stock valued at $37,000 after purchasing an additional 491 shares in the last quarter. Finally, Allianz SE acquired a new stake in shares of Roku in the fourth quarter valued at approximately $39,000. 86.30% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CAO Matthew C. Banks sold 1,906 shares of the company's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $80.36, for a total value of $153,166.16. Following the sale, the chief accounting officer now directly owns 7,256 shares in the company, valued at $583,092.16. This represents a 20.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of the company's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $87.93, for a total transaction of $2,198,250.00. Following the completion of the transaction, the chief executive officer now owns 26,538 shares in the company, valued at approximately $2,333,486.34. This trade represents a 48.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 71,905 shares of company stock worth $6,560,876 in the last ninety days. Insiders own 13.98% of the company's stock.

Roku Stock Up 5.8 %

Shares of ROKU stock opened at $62.65 on Thursday. The stock has a market cap of $9.14 billion, a P/E ratio of -70.39 and a beta of 2.17. Roku, Inc. has a fifty-two week low of $48.33 and a fifty-two week high of $104.96. The business has a fifty day simple moving average of $72.28 and a 200-day simple moving average of $75.72.

Roku (NASDAQ:ROKU - Get Free Report) last posted its earnings results on Thursday, February 13th. The company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.20. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.15 billion. On average, sell-side analysts anticipate that Roku, Inc. will post -0.3 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have issued reports on ROKU shares. FBN Securities began coverage on Roku in a research note on Friday, March 28th. They issued an "outperform" rating and a $93.00 target price for the company. Benchmark restated a "buy" rating and set a $130.00 price target on shares of Roku in a report on Monday. UBS Group lowered their price objective on Roku from $90.00 to $72.00 and set a "neutral" rating for the company in a research report on Tuesday, April 15th. Pivotal Research raised Roku from a "hold" rating to a "buy" rating and upped their price target for the company from $65.00 to $125.00 in a research note on Friday, February 14th. Finally, Jefferies Financial Group raised Roku from an "underperform" rating to a "hold" rating and raised their price objective for the stock from $55.00 to $100.00 in a research report on Thursday, February 20th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Roku has a consensus rating of "Moderate Buy" and a consensus price target of $92.37.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.