Handelsbanken Fonder AB Buys 3,400 Shares of Roku, Inc. (NASDAQ:ROKU)

Handelsbanken Fonder AB raised its stake in shares of Roku, Inc. (NASDAQ:ROKU) by 16.0% during the 4th quarter, Holdings Channel reports. The fund owned 24,700 shares of the company’s stock after purchasing an additional 3,400 shares during the period. Handelsbanken Fonder AB’s holdings in Roku were worth $2,264,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Creative Financial Designs Inc. ADV bought a new stake in Roku during the 4th quarter valued at $29,000. Federated Hermes Inc. purchased a new stake in shares of Roku during the 3rd quarter valued at $37,000. Headinvest LLC purchased a new stake in shares of Roku during the 3rd quarter valued at $42,000. Spire Wealth Management lifted its holdings in shares of Roku by 35.3% during the 3rd quarter. Spire Wealth Management now owns 621 shares of the company’s stock valued at $44,000 after purchasing an additional 162 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Roku by 1,822.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 596 shares of the company’s stock valued at $55,000 after purchasing an additional 565 shares during the last quarter. Institutional investors own 86.30% of the company’s stock.

Roku Stock Performance

Shares of ROKU opened at $56.35 on Friday. The business’s 50-day moving average is $62.80 and its two-hundred day moving average is $78.48. The company has a market capitalization of $8.09 billion, a P/E ratio of -14.12 and a beta of 1.66. Roku, Inc. has a fifty-two week low of $51.62 and a fifty-two week high of $108.84.

Roku (NASDAQ:ROKU) last posted its earnings results on Thursday, April 25th. The company reported ($0.35) EPS for the quarter, beating analysts’ consensus estimates of ($0.64) by $0.29. Roku had a negative return on equity of 23.73% and a negative net margin of 15.64%. The firm had revenue of $881.50 million for the quarter, compared to analysts’ expectations of $843.54 million. During the same period last year, the firm earned ($1.38) EPS. The company’s quarterly revenue was up 19.0% on a year-over-year basis. Analysts forecast that Roku, Inc. will post -2.12 EPS for the current year.

Insider Activity

In other Roku news, Director Jeffrey M. Blackburn bought 8,000 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were purchased at an average cost of $63.96 per share, for a total transaction of $511,680.00. Following the transaction, the director now directly owns 8,000 shares of the company’s stock, valued at $511,680. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Jeffrey M. Blackburn acquired 8,000 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were bought at an average cost of $63.96 per share, for a total transaction of $511,680.00. Following the acquisition, the director now owns 8,000 shares in the company, valued at approximately $511,680. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Charles Collier sold 4,182 shares of Roku stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $65.00, for a total value of $271,830.00. Following the completion of the sale, the insider now owns 8,474 shares in the company, valued at $550,810. The disclosure for this sale can be found here. Insiders have sold 54,545 shares of company stock worth $4,364,035 in the last ninety days. Company insiders own 13.63% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ROKU. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price objective on shares of Roku in a report on Friday. Rosenblatt Securities reiterated a “neutral” rating and set a $89.00 price objective on shares of Roku in a report on Friday. Benchmark decreased their price objective on Roku from $115.00 to $105.00 and set a “buy” rating for the company in a report on Friday. Oppenheimer lowered Roku from an “outperform” rating to a “market perform” rating in a research note on Friday, February 16th. Finally, Piper Sandler restated a “neutral” rating and issued a $65.00 target price (down previously from $81.00) on shares of Roku in a research note on Friday. Five analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $83.90.

Roku Profile

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.