KBC Group NV Boosts Position in Roku, Inc. (NASDAQ:ROKU)

KBC Group NV grew its position in Roku, Inc. (NASDAQ:ROKU) by 42.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,801 shares of the company’s stock after buying an additional 5,871 shares during the quarter. KBC Group NV’s holdings in Roku were worth $1,479,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Swedbank AB purchased a new position in Roku during the 1st quarter valued at about $1,180,000. SG Americas Securities LLC raised its position in shares of Roku by 238.6% during the 2nd quarter. SG Americas Securities LLC now owns 73,528 shares of the company’s stock worth $4,407,000 after purchasing an additional 51,815 shares during the last quarter. Kessler Investment Group LLC lifted its stake in Roku by 21.8% in the 3rd quarter. Kessler Investment Group LLC now owns 75,968 shares of the company’s stock valued at $5,672,000 after buying an additional 13,590 shares in the last quarter. Vanguard Group Inc. grew its holdings in Roku by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 11,946,605 shares of the company’s stock valued at $778,560,000 after buying an additional 92,658 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its position in Roku by 127.2% during the first quarter. CANADA LIFE ASSURANCE Co now owns 49,912 shares of the company’s stock worth $3,255,000 after buying an additional 27,940 shares in the last quarter. Institutional investors and hedge funds own 86.30% of the company’s stock.

Insider Activity

In other Roku news, insider Charles Collier sold 15,454 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $75.00, for a total value of $1,159,050.00. Following the completion of the sale, the insider now owns 200 shares in the company, valued at approximately $15,000. This trade represents a 98.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gilbert Fuchsberg sold 1,693 shares of Roku stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $64.39, for a total transaction of $109,012.27. Following the sale, the insider now owns 38,602 shares in the company, valued at approximately $2,485,582.78. This trade represents a 4.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 69,776 shares of company stock valued at $5,267,305 over the last three months. Insiders own 13.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ROKU. Morgan Stanley increased their price objective on Roku from $60.00 to $65.00 and gave the company an “underweight” rating in a research note on Tuesday, October 29th. Robert W. Baird upgraded shares of Roku from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $70.00 to $90.00 in a research report on Monday. Wells Fargo & Company boosted their price target on Roku from $72.00 to $74.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Macquarie restated an “outperform” rating and set a $90.00 price objective on shares of Roku in a report on Thursday, October 31st. Finally, Wedbush increased their target price on Roku from $75.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $84.67.

Roku Trading Up 7.5 %

Shares of NASDAQ:ROKU opened at $74.03 on Tuesday. The company has a 50 day moving average of $74.36 and a 200-day moving average of $64.74. The firm has a market cap of $10.75 billion, a P/E ratio of -60.01 and a beta of 2.07. Roku, Inc. has a twelve month low of $48.33 and a twelve month high of $108.84.

Roku (NASDAQ:ROKU) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.29. Roku had a negative return on equity of 7.22% and a negative net margin of 4.42%. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same period last year, the company posted ($2.33) EPS. The firm’s quarterly revenue was up 16.5% on a year-over-year basis. Equities research analysts forecast that Roku, Inc. will post -1.1 EPS for the current year.

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.