Franklin Resources Inc. Acquires 10,416 Shares of Roku, Inc. (NASDAQ:ROKU)

Franklin Resources Inc. lifted its position in Roku, Inc. (NASDAQ:ROKU) by 14.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 82,170 shares of the company’s stock after buying an additional 10,416 shares during the period. Franklin Resources Inc. owned approximately 0.06% of Roku worth $6,275,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Holocene Advisors LP purchased a new position in Roku in the third quarter worth $129,015,000. Westfield Capital Management Co. LP boosted its position in shares of Roku by 126.1% in 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 in the last quarter. Point72 Asset Management L.P. grew its stake in Roku by 352.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 651,658 shares of the company’s stock worth $48,653,000 after buying an additional 507,643 shares during the last quarter. JAT Capital Mgmt LP increased its position in Roku by 470.2% during the 3rd quarter. JAT Capital Mgmt LP now owns 540,577 shares of the company’s stock valued at $40,359,000 after buying an additional 445,777 shares in the last quarter. Finally, FMR LLC raised 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 buying an additional 244,793 shares during the last quarter. Institutional investors own 86.30% of the company’s stock.

Wall Street Analysts Forecast Growth

ROKU has been the topic of several recent analyst reports. UBS Group began coverage on shares of Roku in a report on Friday, November 22nd. They set a “neutral” rating and a $73.00 price objective on the stock. Morgan Stanley raised their price target on shares of Roku from $60.00 to $65.00 and gave the stock an “underweight” rating in a report on Tuesday, October 29th. Wolfe Research raised shares of Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 price objective on the stock in a report on Thursday, September 12th. Robert W. Baird upgraded Roku from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $70.00 to $90.00 in a research note on Monday, November 18th. Finally, Moffett Nathanson upgraded Roku from a “sell” rating to a “neutral” rating and set a $80.00 price target on the stock in a research note on Tuesday, October 1st. Two equities research analysts have rated the stock with a sell rating, nine have issued 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, the company presently has an average rating of “Moderate Buy” and an average price target of $83.81.

Insider Transactions at Roku

In other Roku news, insider Charles Collier sold 10,771 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $71.14, for a total transaction of $766,248.94. Following the completion of the transaction, the insider now directly owns 3,790 shares in the company, valued at approximately $269,620.60. This represents a 73.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Dan Jedda sold 1,000 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $76.25, for a total transaction of $76,250.00. Following the transaction, the chief financial officer now directly owns 53,267 shares in the company, valued at approximately $4,061,608.75. The trade was a 1.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 73,096 shares of company stock valued at $5,661,223 in the last three months. 13.98% of the stock is currently owned by company insiders.

Roku Stock Performance

ROKU stock opened at $80.59 on Monday. Roku, Inc. has a one year low of $48.33 and a one year high of $99.80. The firm’s fifty day moving average is $75.32 and its 200 day moving average is $67.85. The firm has a market cap of $11.70 billion, a PE ratio of -67.16 and a beta of 2.06.

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

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.