Jacksonville Wealth Management LLC Takes Position in Roku, Inc. (NASDAQ:ROKU)

Jacksonville Wealth Management LLC acquired a new position in Roku, Inc. (NASDAQ:ROKU) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 4,653 shares of the company’s stock, valued at approximately $346,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ROKU. Holocene Advisors LP bought a new stake in Roku during the 3rd quarter valued at $129,015,000. Westfield Capital Management Co. LP lifted its stake in shares of Roku by 126.1% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,535,576 shares of the company’s stock worth $114,646,000 after purchasing an additional 856,401 shares during the last quarter. Point72 Asset Management L.P. boosted its position in Roku by 352.5% during the third quarter. Point72 Asset Management L.P. now owns 651,658 shares of the company’s stock valued at $48,653,000 after purchasing an additional 507,643 shares in the last quarter. JAT Capital Mgmt LP boosted its position in Roku by 470.2% during the third quarter. JAT Capital Mgmt LP now owns 540,577 shares of the company’s stock valued at $40,359,000 after purchasing an additional 445,777 shares in the last quarter. Finally, FMR LLC grew its stake in Roku by 1.7% in the third quarter. FMR LLC now owns 14,570,372 shares of the company’s stock valued at $1,087,824,000 after purchasing an additional 244,793 shares during the last quarter. 86.30% of the stock is currently owned by institutional investors.

Roku Stock Down 3.0 %

ROKU stock opened at $81.29 on Friday. Roku, Inc. has a one year low of $48.33 and a one year high of $99.80. The firm’s 50 day moving average price is $77.30 and its 200-day moving average price is $71.35.

Roku (NASDAQ:ROKU) last announced its earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.29. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. Roku had a negative net margin of 4.42% and a negative return on equity of 7.22%. Roku’s revenue was up 16.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($2.33) earnings per share. As a group, research analysts expect that Roku, Inc. will post -1.09 earnings per share for the current fiscal year.

Insider Activity at Roku

In related news, insider Charles Collier sold 10,771 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $71.14, for a total value of $766,248.94. Following the sale, the insider now owns 3,790 shares of the company’s stock, valued at $269,620.60. This trade represents a 73.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Dan Jedda sold 1,000 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $82.73, for a total transaction of $82,730.00. Following the transaction, the chief financial officer now owns 64,555 shares of the company’s stock, valued at approximately $5,340,635.15. The trade was a 1.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 73,095 shares of company stock worth $5,726,218 in the last three months. 13.98% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

ROKU has been the subject of a number of analyst reports. Morgan Stanley increased their target price on shares of Roku from $60.00 to $65.00 and gave the company an “underweight” rating in a research report on Tuesday, October 29th. Macquarie reiterated an “outperform” rating and issued a $90.00 target price on shares of Roku in a research report on Thursday, October 31st. Loop Capital increased their price target on Roku from $70.00 to $80.00 and gave the stock a “hold” rating in a research report on Monday, December 9th. Rosenblatt Securities boosted their target price on shares of Roku from $61.00 to $86.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, Bank of America increased their price target on Roku from $75.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Roku presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.18.

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.