By otakuyassine3@gmail.com 
Alliancebernstein L.P. trimmed its stake in shares of Roku, Inc. (NASDAQ:ROKU – Free Report) by 2.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 68,898 shares of the company’s stock after selling 1,609 shares during the period. Alliancebernstein L.P.’s holdings in Roku were worth $5,122,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of ROKU. Vanguard Group Inc. boosted its position in Roku by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 12,249,091 shares of the company’s stock valued at $910,597,000 after buying an additional 185,676 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Roku by 3.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 990,867 shares of the company’s stock valued at $73,661,000 after acquiring an additional 34,898 shares during the period. Jupiter Asset Management Ltd. boosted its holdings in Roku by 164.5% in the fourth quarter. Jupiter Asset Management Ltd. now owns 506,351 shares of the company’s stock valued at $37,642,000 after acquiring an additional 314,931 shares during the last quarter. Andra AP fonden increased its position in Roku by 5.3% in the fourth quarter. Andra AP fonden now owns 490,600 shares of the company’s stock worth $36,471,000 after purchasing an additional 24,600 shares during the period. Finally, Vestmark Advisory Solutions Inc. raised its holdings in Roku by 21.1% during the 4th quarter. Vestmark Advisory Solutions Inc. now owns 293,715 shares of the company’s stock worth $21,174,000 after purchasing an additional 51,172 shares during the last quarter. 86.30% of the stock is owned by institutional investors.
Roku Price Performance
ROKU opened at $60.22 on Monday. The company has a market capitalization of $8.79 billion, a price-to-earnings ratio of -67.66 and a beta of 2.17. The business’s 50-day moving average price is $76.49 and its two-hundred day moving average price is $76.59. Roku, Inc. has a 1 year low of $48.33 and a 1 year high of $104.96.
Roku (NASDAQ:ROKU – Get Free Report) last announced its earnings results on Thursday, February 13th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.20. Roku had a negative return on equity of 5.34% and a negative net margin of 3.15%. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.15 billion. Sell-side analysts anticipate that Roku, Inc. will post -0.3 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. lifted their price target on shares of Roku from $92.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Moffett Nathanson raised shares of Roku from a “sell” rating to a “neutral” rating and set a $70.00 target price for the company in a report on Tuesday, March 4th. Wedbush reissued an “outperform” rating and issued a $100.00 price target on shares of Roku in a research note on Monday, February 10th. Wells Fargo & Company raised Roku from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $74.00 to $129.00 in a research note on Friday, February 14th. Finally, UBS Group raised Roku from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 27th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eighteen have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, Roku has a consensus rating of “Moderate Buy” and an average price target of $96.70.
Read Our Latest Research Report on ROKU
Insider Activity
In other news, CAO Matthew C. Banks sold 1,906 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $80.36, for a total value of $153,166.16. Following the completion of the transaction, the chief accounting officer now owns 7,256 shares in the company, valued at $583,092.16. This trade represents a 20.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $87.93, for a total value of $2,198,250.00. Following the completion of the sale, the chief executive officer now directly owns 26,538 shares in the company, valued at approximately $2,333,486.34. This represents a 48.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 72,905 shares of company stock worth $6,638,056 over the last ninety days. Insiders own 13.98% of the company’s stock.
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.
Further Reading
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