Avanza Fonder AB Takes Position in Roku, Inc. (NASDAQ:ROKU)

Avanza Fonder AB purchased a new stake in Roku, Inc. (NASDAQ:ROKU) in the fourth quarter, HoldingsChannel reports. The firm purchased 47,071 shares of the company’s stock, valued at approximately $3,499,000.

Other institutional investors have also recently bought and sold shares of the company. Oak Thistle LLC bought a new stake in shares of Roku during the fourth quarter worth $823,000. Everence Capital Management Inc. acquired a new stake in Roku in the fourth quarter worth about $350,000. Franklin Resources Inc. raised its holdings in Roku by 14.5% during the 3rd quarter. Franklin Resources Inc. now owns 82,170 shares of the company’s stock worth $6,275,000 after purchasing an additional 10,416 shares during the last quarter. Sender Co & Partners Inc. acquired a new position in Roku during the 3rd quarter valued at about $827,000. Finally, M&T Bank Corp boosted its stake in shares of Roku by 19.1% in the 3rd quarter. M&T Bank Corp now owns 7,024 shares of the company’s stock valued at $525,000 after purchasing an additional 1,126 shares during the last quarter. Institutional investors own 86.30% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Loop Capital increased their price objective on shares of Roku from $70.00 to $80.00 and gave the company a “hold” rating in a report on Monday, December 9th. Macquarie reissued an “outperform” rating and issued a $90.00 price target on shares of Roku in a research note on Thursday, October 31st. Wedbush reaffirmed an “outperform” rating and set a $100.00 price objective on shares of Roku in a research note on Wednesday, January 8th. Rosenblatt Securities increased their target price on Roku from $61.00 to $86.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, Baird R W upgraded Roku from a “hold” rating to a “strong-buy” rating in a report on Monday, November 18th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Roku has an average rating of “Hold” and an average target price of $82.62.

Insider Activity at Roku

In other Roku news, CFO Dan Jedda sold 1,000 shares of the business’s stock in a transaction that occurred 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 $5,340,635.15. The trade was a 1.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Charles Collier sold 10,771 shares of the 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 completion of the sale, the insider now directly owns 3,790 shares of the company’s stock, valued at approximately $269,620.60. The trade was a 73.97 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 73,095 shares of company stock valued at $5,726,218. Corporate insiders own 13.98% of the company’s stock.

Roku Price Performance

ROKU opened at $75.89 on Friday. The company has a market capitalization of $11.02 billion, a price-to-earnings ratio of -63.24 and a beta of 2.05. The business’s 50-day moving average price is $76.74 and its two-hundred day moving average price is $70.66. Roku, Inc. has a 1 year low of $48.33 and a 1 year high of $99.80.

Roku (NASDAQ:ROKU) last released its earnings results on Wednesday, October 30th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.35) by $0.29. The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Roku had a negative return on equity of 7.22% and a negative net margin of 4.42%. The business’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($2.33) EPS. Sell-side analysts anticipate that Roku, Inc. will post -1.09 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.