Intech Investment Management LLC Raises Stock Position in Roku, Inc. (NASDAQ:ROKU)

Intech Investment Management LLC raised its stake in shares of Roku, Inc. (NASDAQ:ROKU – Get Rating) by 7.4% during the fourth quarter, Holdings Channel reports. The firm owned 5,903 shares of the company’s stock after buying an additional 405 shares during the quarter. Intech Investment Management LLC’s holdings in Roku were worth $240,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. ARK Investment Management LLC increased its position in Roku by 1.6% during the 4th quarter. ARK Investment Management LLC now owns 12,114,981 shares of the company’s stock valued at $493,080,000 after purchasing an additional 195,915 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Roku by 1.9% during the 3rd quarter. Vanguard Group Inc. now owns 10,897,100 shares of the company’s stock valued at $614,596,000 after buying an additional 206,357 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Roku by 6.0% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,847,444 shares of the company’s stock valued at $319,391,000 after buying an additional 444,022 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Roku by 5.1% during the 3rd quarter. BlackRock Inc. now owns 6,749,951 shares of the company’s stock valued at $380,697,000 after buying an additional 330,258 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of Roku by 97.2% during the 1st quarter. Wellington Management Group LLP now owns 4,174,003 shares of the company’s stock valued at $522,878,000 after buying an additional 2,057,633 shares in the last quarter. 66.11% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Mustafa Ozgen sold 8,812 shares of the company’s stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $61.93, for a total value of $545,727.16. Following the transaction, the insider now owns 25,338 shares of the company’s stock, valued at approximately $1,569,182.34. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, SVP Gilbert Fuchsberg sold 3,242 shares of the company’s stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $61.93, for a total value of $200,777.06. Following the transaction, the senior vice president now owns 35,103 shares of the company’s stock, valued at approximately $2,173,928.79. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Mustafa Ozgen sold 8,812 shares of the company’s stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $61.93, for a total value of $545,727.16. Following the completion of the transaction, the insider now directly owns 25,338 shares in the company, valued at approximately $1,569,182.34. The disclosure for this sale can be found here. Insiders have sold a total of 15,748 shares of company stock valued at $958,909 in the last quarter. Insiders own 13.79% of the company’s stock.

Analyst Ratings Changes

ROKU has been the topic of a number of research reports. Bank of America boosted their target price on shares of Roku from $85.00 to $86.00 and gave the company a “buy” rating in a report on Thursday, April 27th. Benchmark restated a “buy” rating and set a $65.00 target price (up previously from $63.00) on shares of Roku in a report on Monday, February 13th. Citigroup dropped their target price on shares of Roku from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Tuesday, February 14th. Atlantic Securities upgraded shares of Roku from an “underweight” rating to a “neutral” rating and set a $76.00 price target on the stock in a research note on Thursday, February 16th. Finally, Rosenblatt Securities dropped their price target on shares of Roku from $64.00 to $61.00 and set a “neutral” rating on the stock in a research note on Thursday, April 27th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $71.04.

Roku Stock Performance

NASDAQ ROKU opened at $52.61 on Monday. The stock’s fifty day moving average is $59.75 and its two-hundred day moving average is $56.20. The firm has a market capitalization of $7.41 billion, a P/E ratio of -11.01 and a beta of 1.72. Roku, Inc. has a fifty-two week low of $38.26 and a fifty-two week high of $105.85.

Roku (NASDAQ:ROKU – Get Rating) last released its quarterly earnings data on Wednesday, April 26th. The company reported ($1.38) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.44) by $0.06. The company had revenue of $741.00 million for the quarter, compared to analyst estimates of $707.59 million. Roku had a negative return on equity of 24.71% and a negative net margin of 21.23%. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.19) earnings per share. As a group, sell-side analysts forecast that Roku, Inc. will post -5.23 EPS for the current year.

About Roku

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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.