Allstate Corp Purchases New Holdings in Roku, Inc. (NASDAQ:ROKU)

Allstate Corp purchased a new position in shares of Roku, Inc. (NASDAQ:ROKU) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 3,705 shares of the company’s stock, valued at approximately $275,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in ROKU. Paloma Partners Management Co acquired a new position in Roku during the third quarter worth $394,000. Benjamin Edwards Inc. raised its holdings in shares of Roku by 13,111.3% in the 3rd quarter. Benjamin Edwards Inc. now owns 59,451 shares of the company’s stock valued at $4,438,000 after purchasing an additional 59,001 shares during the period. Investment Management Corp of Ontario bought a new stake in shares of Roku in the 3rd quarter valued at about $318,000. Integrated Wealth Concepts LLC lifted its stake in Roku by 26.9% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 20,890 shares of the company’s stock valued at $1,560,000 after purchasing an additional 4,427 shares during the last quarter. Finally, IHT Wealth Management LLC grew its holdings in Roku by 762.3% during the third quarter. IHT Wealth Management LLC now owns 29,819 shares of the company’s stock worth $2,226,000 after purchasing an additional 26,361 shares during the period. Institutional investors own 86.30% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on ROKU. JMP Securities raised their price objective on Roku from $95.00 to $115.00 and gave the company a “market outperform” rating in a research report on Friday, February 14th. Bank of America started coverage on shares of Roku in a research report on Thursday, March 27th. They set a “buy” rating and a $100.00 price objective for the company. Citigroup raised shares of Roku from a “neutral” rating to an “outperform” rating in a research report on Sunday, March 23rd. Compass Point started coverage on shares of Roku in a report on Sunday, March 23rd. They set a “buy” rating for the company. Finally, Rosenblatt Securities reissued a “neutral” rating and issued a $86.00 price target on shares of Roku in a report on Thursday, February 13th. One analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Roku currently has an average rating of “Moderate Buy” and a consensus target price of $96.55.

Roku Price Performance

NASDAQ ROKU opened at $71.42 on Thursday. Roku, Inc. has a fifty-two week low of $48.33 and a fifty-two week high of $104.96. The business has a fifty day moving average price of $80.64 and a two-hundred day moving average price of $77.62. The stock has a market capitalization of $10.42 billion, a PE ratio of -80.25 and a beta of 2.17.

Roku (NASDAQ:ROKU) last announced its quarterly earnings data on Thursday, February 13th. The company reported ($0.24) earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.15 billion. As a group, sell-side analysts expect that Roku, Inc. will post -0.3 earnings per share for the current year.

Insider Activity

In other Roku news, CAO Matthew C. Banks sold 1,906 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $80.36, for a total value of $153,166.16. Following the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Anthony J. Wood sold 25,000 shares of the company’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $79.77, for a total transaction of $1,994,250.00. Following the transaction, the chief executive officer now owns 26,538 shares of the company’s stock, valued at $2,116,936.26. This trade represents a 48.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 97,905 shares of company stock worth $8,632,306. Corporate insiders own 13.98% of the company’s stock.

About Roku

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.