Edgestream Partners L.P. Grows Holdings in Roku, Inc. (NASDAQ:ROKU)

Edgestream Partners L.P. increased its position in shares of Roku, Inc. (NASDAQ:ROKU) by 56.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 19,846 shares of the company’s stock after purchasing an additional 7,158 shares during the period. Edgestream Partners L.P.’s holdings in Roku were worth $1,475,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Entropy Technologies LP increased its stake in shares of Roku by 264.4% during the fourth quarter. Entropy Technologies LP now owns 25,525 shares of the company’s stock valued at $1,898,000 after buying an additional 18,520 shares during the period. Holocene Advisors LP purchased a new position in shares of Roku during the third quarter valued at $129,015,000. National Bank of Canada FI increased its stake in shares of Roku by 11,626.3% during the third quarter. National Bank of Canada FI now owns 150,800 shares of the company’s stock valued at $11,259,000 after buying an additional 149,514 shares during the period. EULAV Asset Management increased its stake in shares of Roku by 59.1% during the third quarter. EULAV Asset Management now owns 183,000 shares of the company’s stock valued at $13,663,000 after buying an additional 68,000 shares during the period. Finally, Blueshift Asset Management LLC purchased a new position in shares of Roku during the third quarter valued at $2,157,000. Hedge funds and other institutional investors own 86.30% of the company’s stock.

Roku Trading Down 7.2 %

Shares of ROKU stock opened at $71.15 on Tuesday. The stock has a 50 day moving average of $82.22 and a 200 day moving average of $77.11. The stock has a market cap of $10.38 billion, a P/E ratio of -79.94 and a beta of 2.12. Roku, Inc. has a twelve month low of $48.33 and a twelve month high of $104.96.

Roku (NASDAQ:ROKU) last posted its quarterly earnings data on Thursday, February 13th. The company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.20. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Roku had a negative return on equity of 5.34% and a negative net margin of 3.15%. On average, research analysts predict that Roku, Inc. will post -0.3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ROKU has been the topic of several research reports. Rosenblatt Securities restated a “neutral” rating and set a $86.00 price target on shares of Roku in a research note on Thursday, February 13th. Jefferies Financial Group raised Roku from an “underperform” rating to a “hold” rating and raised their price objective for the company from $55.00 to $100.00 in a research report on Thursday, February 20th. UBS Group raised their price objective on Roku from $73.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Pivotal Research raised Roku from a “hold” rating to a “buy” rating and raised their price objective for the company from $65.00 to $125.00 in a research report on Friday, February 14th. Finally, Robert W. Baird raised Roku from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $70.00 to $90.00 in a research report on Monday, November 18th. One analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Roku has an average rating of “Moderate Buy” and a consensus target price of $96.71.

Insider Activity

In other news, insider Charles Collier sold 7,181 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $78.25, for a total value of $561,913.25. Following the completion of the sale, the insider now directly owns 7,380 shares in the company, valued at $577,485. The trade was a 49.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $79.77, for a total value of $1,994,250.00. Following the completion of the sale, the chief executive officer now directly owns 26,538 shares in the company, valued at $2,116,936.26. This represents a 48.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 93,308 shares of company stock worth $8,296,166 over the last three months. 13.98% of the stock is currently owned by corporate insiders.

Roku Company 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.