Summit Partners Public Asset Management LLC Makes New $896,000 Investment in Roku, Inc. (NASDAQ:ROKU)

Summit Partners Public Asset Management LLC acquired a new position in Roku, Inc. (NASDAQ:ROKU) in the 3rd quarter, HoldingsChannel reports. The fund acquired 12,000 shares of the company’s stock, valued at approximately $896,000.

Several other institutional investors have also added to or reduced their stakes in ROKU. Price T Rowe Associates Inc. MD lifted its stake in Roku by 4.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 71,174 shares of the company’s stock worth $4,640,000 after purchasing an additional 3,104 shares during the last quarter. California State Teachers Retirement System raised its stake in shares of Roku by 1.1% during the first quarter. California State Teachers Retirement System now owns 197,106 shares of the company’s stock valued at $12,845,000 after acquiring an additional 2,190 shares in the last quarter. Plato Investment Management Ltd raised its stake in shares of Roku by 564.6% during the first quarter. Plato Investment Management Ltd now owns 3,044 shares of the company’s stock valued at $198,000 after acquiring an additional 2,586 shares in the last quarter. Swedbank AB bought a new stake in shares of Roku during the first quarter valued at approximately $1,180,000. Finally, Cetera Investment Advisers raised its stake in shares of Roku by 240.3% during the first quarter. Cetera Investment Advisers now owns 41,805 shares of the company’s stock valued at $2,724,000 after acquiring an additional 29,521 shares in the last quarter. Institutional investors own 86.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ROKU shares. Benchmark reissued a “buy” rating and set a $105.00 price objective on shares of Roku in a report on Thursday, September 12th. Moffett Nathanson upgraded shares of Roku from a “sell” rating to a “neutral” rating and set a $80.00 target price for the company in a research report on Tuesday, October 1st. Baird R W upgraded shares of Roku from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 18th. JPMorgan Chase & Co. boosted their target price on shares of Roku from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Finally, Guggenheim upgraded shares of Roku from a “neutral” rating to a “buy” rating and set a $75.00 price target for the company in a research report on Friday, August 23rd. Two investment analysts have rated the stock with a sell rating, nine have assigned 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.com, the company has an average rating of “Moderate Buy” and an average price target of $82.62.

Insider Activity at Roku

In other Roku news, CFO Dan Jedda sold 1,000 shares of Roku stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $75.33, for a total transaction of $75,330.00. Following the completion of the transaction, the chief financial officer now owns 54,267 shares in the company, valued at approximately $4,087,933.11. The trade was a 1.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Gilbert Fuchsberg sold 1,693 shares of Roku stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total transaction of $109,012.27. Following the transaction, the insider now owns 38,602 shares of the company’s stock, valued at approximately $2,485,582.78. The trade was a 4.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 90,240 shares of company stock worth $6,729,582 over the last 90 days. Company insiders own 13.98% of the company’s stock.

Roku Stock Up 2.1 %

Shares of NASDAQ:ROKU opened at $67.71 on Friday. The firm’s 50-day simple moving average is $73.77 and its 200-day simple moving average is $65.28. Roku, Inc. has a fifty-two week low of $48.33 and a fifty-two week high of $108.84.

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