Kennondale Capital Management LLC Purchases New Position in Roku, Inc. (NASDAQ:ROKU)

Kennondale Capital Management LLC purchased a new stake in Roku, Inc. (NASDAQ:ROKU) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 24,557 shares of the company’s stock, valued at approximately $1,826,000. Roku makes up approximately 1.5% of Kennondale Capital Management LLC’s investment portfolio, making the stock its 14th biggest holding.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Counterpoint Mutual Funds LLC acquired a new position in Roku in the fourth quarter valued at approximately $697,000. Achmea Investment Management B.V. boosted its holdings in Roku by 146.4% in the fourth quarter. Achmea Investment Management B.V. now owns 10,168 shares of the company’s stock valued at $756,000 after purchasing an additional 6,042 shares in the last quarter. ANTIPODES PARTNERS Ltd boosted its holdings in Roku by 91.3% in the fourth quarter. ANTIPODES PARTNERS Ltd now owns 3,812 shares of the company’s stock valued at $283,000 after purchasing an additional 1,819 shares in the last quarter. Avantax Advisory Services Inc. boosted its holdings in Roku by 3.2% in the fourth quarter. Avantax Advisory Services Inc. now owns 11,328 shares of the company’s stock valued at $842,000 after purchasing an additional 352 shares in the last quarter. Finally, 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 purchasing an additional 314,931 shares in the last quarter. 86.30% of the stock is owned by institutional investors and hedge funds.

Roku Stock Performance

NASDAQ:ROKU opened at $69.65 on Tuesday. The stock has a fifty day moving average price of $81.52 and a two-hundred day moving average price of $77.13. The stock has a market capitalization of $10.16 billion, a price-to-earnings ratio of -78.26 and a beta of 2.12. Roku, Inc. has a 1 year low of $48.33 and a 1 year high of $104.96.

Roku (NASDAQ:ROKU) last released its quarterly earnings data on Thursday, February 13th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.20. The firm 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, analysts predict that Roku, Inc. will post -0.3 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ROKU. JPMorgan Chase & Co. upped their price target on Roku from $92.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Wells Fargo & Company raised Roku from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $74.00 to $129.00 in a report on Friday, February 14th. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price objective on shares of Roku in a report on Tuesday, January 7th. Robert W. Baird raised Roku from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $70.00 to $90.00 in a report on Monday, November 18th. Finally, Wedbush reissued an “outperform” rating and issued a $100.00 price objective on shares of Roku in a report on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.71.

Insiders Place Their Bets

In other news, insider Charles Collier sold 7,181 shares of the firm’s stock in a transaction 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 transaction, the insider now owns 7,380 shares in the company, valued at $577,485. This trade represents a 49.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $79.77, for a total value of $1,994,250.00. Following the completion of the transaction, the chief executive officer now owns 26,538 shares of the company’s stock, valued at approximately $2,116,936.26. This represents a 48.51 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 92,308 shares of company stock worth $8,213,436. 13.98% of the stock is 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.