Weiss Asset Management LP Acquires New Shares in Roku, Inc. (NASDAQ:ROKU)

Weiss Asset Management LP bought a new stake in shares of Roku, Inc. (NASDAQ:ROKU - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 8,247 shares of the company's stock, valued at approximately $616,000.

Other hedge funds have also bought and sold shares of the company. Cetera Investment Advisers lifted its holdings in shares of Roku by 240.3% in the 1st quarter. Cetera Investment Advisers now owns 41,805 shares of the company's stock worth $2,724,000 after acquiring an additional 29,521 shares during the last quarter. SG Americas Securities LLC raised its holdings in Roku by 238.6% during the 2nd quarter. SG Americas Securities LLC now owns 73,528 shares of the company's stock valued at $4,407,000 after buying an additional 51,815 shares during the last quarter. Sequoia Financial Advisors LLC increased its position in Roku by 6.4% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 4,519 shares of the company's stock valued at $271,000 after purchasing an additional 270 shares during the period. Diversified Trust Co purchased a new position in Roku during the 2nd quarter valued at $546,000. Finally, Wealth Enhancement Advisory Services LLC increased its position in Roku by 19.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 6,836 shares of the company's stock valued at $410,000 after purchasing an additional 1,131 shares during the period. 86.30% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ROKU has been the topic of a number of 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 report on Friday, August 23rd. Macquarie reissued an "outperform" rating and issued a $90.00 target price on shares of Roku in a report on Thursday, October 31st. Wedbush reissued an "outperform" rating and issued a $100.00 target price (up from $85.00) on shares of Roku in a report on Friday. Wolfe Research upgraded Roku from a "peer perform" rating to an "outperform" rating and set a $93.00 price target for the company in a research report on Thursday, September 12th. Finally, Moffett Nathanson upgraded Roku from a "sell" rating to a "neutral" rating and set a $80.00 target price for the company in a research report on Tuesday, October 1st. Two equities research 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's stock. According to MarketBeat, Roku currently has an average rating of "Moderate Buy" and an average target price of $83.81.

Roku Price Performance

Shares of ROKU stock remained flat at $84.12 during trading hours on Monday. The stock had a trading volume of 3,690,757 shares, compared to its average volume of 4,442,356. Roku, Inc. has a fifty-two week low of $48.33 and a fifty-two week high of $108.84. The stock has a market capitalization of $12.21 billion, a P/E ratio of -69.97 and a beta of 2.06. The company's fifty day simple moving average is $74.22 and its two-hundred day simple moving average is $66.11.

Roku (NASDAQ:ROKU - Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.35) by $0.29. Roku had a negative return on equity of 7.22% and a negative net margin of 4.42%. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter last year, the firm earned ($2.33) earnings per share. The company's revenue for the quarter was up 16.5% compared to the same quarter last year. Research analysts forecast that Roku, Inc. will post -1.1 earnings per share for the current year.

Insider Activity at Roku

In other news, CEO Anthony J. Wood sold 25,000 shares of the firm'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 completion of the sale, the chief executive officer now directly owns 5,020 shares of the company's stock, valued at $376,500. This trade represents a 83.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Dan Jedda sold 1,000 shares of the firm's stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $76.25, for a total value of $76,250.00. Following the sale, the chief financial officer now directly owns 53,267 shares of the company's stock, valued at approximately $4,061,608.75. This represents a 1.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 88,550 shares of company stock valued at $6,621,873. Insiders own 13.98% of the company's stock.

Roku Company 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.