Avanza Fonder AB Buys Shares of 47,071 Roku, Inc. (NASDAQ:ROKU)

Avanza Fonder AB bought a new position in Roku, Inc. (NASDAQ:ROKU) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 47,071 shares of the company’s stock, valued at approximately $3,499,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Holocene Advisors LP acquired a new position in Roku in the third quarter worth approximately $129,015,000. Westfield Capital Management Co. LP grew its position in Roku by 126.1% in the third quarter. Westfield Capital Management Co. LP now owns 1,535,576 shares of the company’s stock worth $114,646,000 after acquiring an additional 856,401 shares in the last quarter. Point72 Asset Management L.P. increased its stake in shares of 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 purchasing an additional 507,643 shares during the last quarter. JAT Capital Mgmt LP raised its holdings in shares of 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 purchasing an additional 445,777 shares in the last quarter. Finally, FMR LLC lifted its stake in shares of Roku by 1.7% in the 3rd 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 owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CAO Matthew C. Banks sold 8,693 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $71.44, for a total transaction of $621,027.92. Following the sale, the chief accounting officer now directly owns 7,264 shares in the company, valued at $518,940.16. This represents a 54.48 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Charles Collier sold 10,771 shares of Roku stock in a transaction 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 transaction, the insider now 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. Insiders sold 73,095 shares of company stock worth $5,726,218 over the last three months. 13.98% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Jefferies Financial Group cut their target price on Roku from $60.00 to $55.00 and set an “underperform” rating on the stock in a report on Friday, November 1st. Wells Fargo & Company boosted their target price on Roku from $72.00 to $74.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Wedbush reiterated an “outperform” rating and set a $100.00 price target on shares of Roku in a report on Wednesday, January 8th. UBS Group initiated coverage on shares of Roku in a research report on Friday, November 22nd. They issued a “neutral” rating and a $73.00 price target on the stock. Finally, Morgan Stanley upped their price objective on shares of Roku from $60.00 to $65.00 and gave the stock an “underweight” rating in a report on Tuesday, October 29th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $82.62.

Roku Stock Performance

Shares of ROKU stock opened at $75.89 on Friday. The firm has a fifty day moving average of $76.74 and a 200-day moving average of $70.66. The stock has a market cap of $11.02 billion, a price-to-earnings ratio of -63.24 and a beta of 2.05. Roku, Inc. has a 52-week low of $48.33 and a 52-week high of $99.80.

Roku (NASDAQ:ROKU) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($0.06) earnings per share 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 company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the previous year, the business earned ($2.33) earnings per share. The company’s quarterly revenue was up 16.5% on a year-over-year basis. On average, sell-side analysts predict that Roku, Inc. will post -1.09 earnings per share for the current 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.