State of New Jersey Common Pension Fund D raised its holdings in shares of Roku, Inc. (NASDAQ:ROKU – Get Rating) by 5.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 78,338 shares of the company’s stock after buying an additional 3,857 shares during the period. State of New Jersey Common Pension Fund D owned about 0.06% of Roku worth $3,188,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Covestor Ltd lifted its position in Roku by 693.2% during the first quarter. Covestor Ltd now owns 349 shares of the company’s stock valued at $44,000 after buying an additional 305 shares in the last quarter. Koshinski Asset Management Inc. acquired a new position in Roku during the third quarter valued at approximately $1,304,000. Wipfli Financial Advisors LLC acquired a new position in Roku during the third quarter valued at approximately $42,000. Lazard Asset Management LLC raised its stake in shares of Roku by 33.9% during the third quarter. Lazard Asset Management LLC now owns 829 shares of the company’s stock valued at $46,000 after purchasing an additional 210 shares during the period. Finally, Beacon Capital Management LLC raised its stake in shares of Roku by 155.6% during the fourth quarter. Beacon Capital Management LLC now owns 979 shares of the company’s stock valued at $40,000 after purchasing an additional 596 shares during the period. 66.11% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
ROKU has been the topic of a number of analyst reports. Stephens reiterated an “overweight” rating and set a $70.00 price objective on shares of Roku in a research note on Thursday, February 16th. Atlantic Securities upgraded shares of Roku from an “underweight” rating to a “neutral” rating and set a $76.00 price objective on the stock in a research note on Thursday, February 16th. Needham & Company LLC reiterated a “buy” rating and set a $80.00 price objective on shares of Roku in a research note on Friday, February 24th. Loop Capital lifted their price objective on shares of Roku from $56.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, February 16th. Finally, Jefferies Financial Group lowered shares of Roku from a “hold” rating to an “underperform” rating and dropped their price objective for the company from $45.00 to $30.00 in a research note on Thursday, January 12th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $81.00.
Roku Price Performance
Roku (NASDAQ:ROKU – Get Rating) last announced its quarterly earnings results on Wednesday, February 15th. The company reported ($1.70) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.74) by $0.04. Roku had a negative net margin of 15.93% and a negative return on equity of 18.05%. The company had revenue of $867.06 million during the quarter, compared to the consensus estimate of $803.32 million. During the same quarter in the previous year, the company posted $0.17 earnings per share. The company’s revenue for the quarter was up .2% compared to the same quarter last year. Analysts expect that Roku, Inc. will post -5.35 earnings per share for the current year.
Insider Activity
In other news, SVP Stephen H. Kay sold 2,763 shares of the business’s stock in a transaction on Thursday, February 16th. The shares were sold at an average price of $75.00, for a total transaction of $207,225.00. Following the completion of the transaction, the senior vice president now owns 78,527 shares of the company’s stock, valued at $5,889,525. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, SVP Stephen H. Kay sold 2,763 shares of the stock in a transaction dated Thursday, February 16th. The shares were sold at an average price of $75.00, for a total value of $207,225.00. Following the completion of the transaction, the senior vice president now owns 78,527 shares in the company, valued at approximately $5,889,525. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Gilbert Fuchsberg sold 3,242 shares of the stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $61.93, for a total transaction of $200,777.06. Following the completion of the transaction, the senior vice president now owns 35,103 shares of the company’s stock, valued at approximately $2,173,928.79. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,817 shares of company stock valued at $953,729. 13.79% of the stock is currently owned by company insiders.
Roku Profile
Roku, Inc engages in the provision of a streaming platform for television. It operates through the Platform and Devices segments. The Platform segment includes digital advertising and related services including the demand-side platform and content distribution services such as subscription and transaction revenue shares, media and entertainment promotional spending, the sale of premium subscriptions, and the sale of branded channel buttons on remote controls.
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