Harvest Fund Management Co. Ltd Boosts Stock Position in Roku, Inc. (NASDAQ:ROKU)

Harvest Fund Management Co. Ltd lifted its position in shares of Roku, Inc. (NASDAQ:ROKU) by 4,091.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 503 shares of the company’s stock after purchasing an additional 491 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Roku were worth $37,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Koss Olinger Consulting LLC raised its stake in shares of Roku by 20.0% during the fourth quarter. Koss Olinger Consulting LLC now owns 60,000 shares of the company’s stock worth $4,460,000 after acquiring an additional 9,992 shares in the last quarter. Xponance Inc. grew its holdings in shares of Roku by 14.6% during the 4th quarter. Xponance Inc. now owns 14,036 shares of the company’s stock valued at $1,043,000 after purchasing an additional 1,783 shares during the last quarter. Kennondale Capital Management LLC purchased a new position in Roku in the 4th quarter worth $1,826,000. Counterpoint Mutual Funds LLC bought a new stake in Roku in the fourth quarter worth $697,000. Finally, Achmea Investment Management B.V. boosted its position in Roku by 146.4% during the fourth quarter. Achmea Investment Management B.V. now owns 10,168 shares of the company’s stock valued at $756,000 after buying an additional 6,042 shares during the period. Institutional investors own 86.30% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on ROKU. JPMorgan Chase & Co. lifted their price objective on Roku from $92.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Citigroup raised Roku from a “neutral” rating to an “outperform” rating in a research note on Sunday. Jefferies Financial Group raised shares of Roku from an “underperform” rating to a “hold” rating and lifted their target price for the stock from $55.00 to $100.00 in a research note on Thursday, February 20th. Benchmark increased their price target on shares of Roku from $100.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Finally, Rosenblatt Securities restated a “neutral” rating and issued a $86.00 price objective on shares of Roku in a research report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $96.71.

Roku Price Performance

NASDAQ:ROKU opened at $78.29 on Monday. Roku, Inc. has a 1-year low of $48.33 and a 1-year high of $104.96. The company has a market capitalization of $11.43 billion, a PE ratio of -87.97 and a beta of 2.12. The firm’s 50-day moving average price is $80.89 and its 200-day moving average price is $77.32.

Roku (NASDAQ:ROKU) last released its earnings results on Thursday, February 13th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.44) by $0.20. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.15 billion. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. Equities analysts anticipate that Roku, Inc. will post -0.3 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Anthony J. Wood sold 4,600 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $75.00, for a total value of $345,000.00. Following the completion of the transaction, the chief executive officer now directly owns 6,243 shares in the company, valued at $468,225. The trade was a 42.42 % 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, CFO Dan Jedda sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $75.00, for a total value of $75,000.00. Following the completion of the transaction, the chief financial officer now directly owns 68,843 shares in the company, valued at $5,163,225. This trade represents a 1.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 97,908 shares of company stock valued at $8,633,436. 13.98% of the stock is currently owned by corporate insiders.

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.