Fmr LLC Raises Holdings in Roku, Inc. (NASDAQ:ROKU)

Fmr LLC increased its position in Roku, Inc. (NASDAQ:ROKU) by 1.7% during the third quarter, Holdings Channel.com reports. The institutional investor owned 14,570,372 shares of the company’s stock after purchasing an additional 244,793 shares during the period. Fmr LLC owned 0.10% of Roku worth $1,087,824,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. ARK Investment Management LLC grew its stake in shares of Roku by 1.3% in the 2nd quarter. ARK Investment Management LLC now owns 12,716,432 shares of the company’s stock worth $762,096,000 after buying an additional 159,785 shares in the last quarter. 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. Charles Schwab Investment Management Inc. raised its position in Roku by 3.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 955,969 shares of the company’s stock valued at $71,373,000 after purchasing an additional 30,038 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Roku by 5.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 500,794 shares of the company’s stock valued at $30,013,000 after purchasing an additional 24,926 shares during the last quarter. Finally, Swiss National Bank increased its position in shares of Roku by 1.3% during the 3rd quarter. Swiss National Bank now owns 376,800 shares of the company’s stock valued at $28,132,000 after purchasing an additional 5,000 shares during the last quarter. 86.30% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ROKU. Baird R W upgraded Roku from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 18th. JPMorgan Chase & Co. raised their target price on shares of Roku from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Jefferies Financial Group cut their price target on shares of Roku from $60.00 to $55.00 and set an “underperform” rating on the stock in a report on Friday, November 1st. Loop Capital raised their price objective on shares of Roku from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. Finally, Citigroup upped their target price on Roku from $60.00 to $77.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $82.62.

Roku Trading Up 2.1 %

Shares of NASDAQ:ROKU opened at $67.71 on Thursday. The company has a market capitalization of $9.83 billion, a PE ratio of -56.42 and a beta of 2.07. Roku, Inc. has a 12-month low of $48.33 and a 12-month high of $108.84. The business’s fifty day simple moving average is $74.16 and its 200-day simple moving average is $65.25.

Roku (NASDAQ:ROKU) last posted its earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $1.02 billion. During the same quarter in the previous year, the firm earned ($2.33) earnings per share. The firm’s quarterly revenue was up 16.5% compared to the same quarter last year. Research analysts predict that Roku, Inc. will post -1.1 EPS for the current year.

Insider Activity at Roku

In other Roku news, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $77.20, for a total value of $1,930,000.00. Following the completion of the sale, the chief executive officer now directly owns 5,020 shares in the company, valued at approximately $387,544. This trade represents a 83.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Matthew C. Banks sold 8,693 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $71.44, for a total value of $621,027.92. Following the sale, the chief accounting officer now owns 7,264 shares in the company, valued at $518,940.16. The trade was a 54.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 90,240 shares of company stock valued at $6,729,582 over the last 90 days. Insiders own 13.98% of the company’s stock.

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.