Norges Bank Invests $92.81 Million in Roku, Inc. $ROKU

Norges Bank purchased a new position in shares of Roku, Inc. (NASDAQ:ROKU) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 855,449 shares of the company’s stock, valued at approximately $92,808,000.

Other large investors have also made changes to their positions in the company. Jefferies Financial Group Inc. bought a new position in shares of Roku in the 4th quarter valued at about $1,345,000. Holocene Advisors LP lifted its stake in Roku by 352.3% in the 3rd quarter. Holocene Advisors LP now owns 1,650,448 shares of the company’s stock valued at $165,259,000 after purchasing an additional 1,285,585 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new stake in Roku in the 3rd quarter valued at about $2,997,000. MH & Associates Securities Management Corp ADV acquired a new stake in Roku in the 4th quarter valued at about $2,398,000. Finally, Magnetar Financial LLC acquired a new stake in Roku in the 3rd quarter valued at about $5,466,000. 86.30% of the stock is owned by institutional investors and hedge funds.

Roku Stock Down 2.7%

Shares of ROKU stock opened at $122.26 on Friday. The firm has a 50 day moving average price of $115.32 and a two-hundred day moving average price of $105.15. The company has a market capitalization of $18.02 billion, a PE ratio of 91.93 and a beta of 2.06. Roku, Inc. has a 12-month low of $73.91 and a 12-month high of $133.46.

Roku (NASDAQ:ROKU) last issued its quarterly earnings data on Thursday, April 30th. The company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.23. The firm had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.20 billion. Roku had a net margin of 4.06% and a return on equity of 7.64%. The business’s revenue for the quarter was up 22.4% compared to the same quarter last year. During the same period last year, the business posted ($0.19) earnings per share. As a group, research analysts expect that Roku, Inc. will post 2.41 EPS for the current year.

Insider Activity

In other Roku news, CAO Matthew C. Banks sold 546 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $127.26, for a total transaction of $69,483.96. Following the completion of the sale, the chief accounting officer directly owned 7,725 shares in the company, valued at $983,083.50. This trade represents a 6.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Neil D. Hunt sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $129.09, for a total transaction of $258,180.00. Following the sale, the director owned 7,782 shares of the company’s stock, valued at $1,004,578.38. This trade represents a 20.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 696,631 shares of company stock valued at $77,636,680. Company insiders own 13.45% of the company’s stock.

Roku News Roundup

Here are the key news stories impacting Roku this week:

• Positive Sentiment: Roku continues to expand its free ad-supported streaming lineup, adding new channels including Sports Illustrated and FIFA Plus, plus four more free channels in June. That supports engagement on The Roku Channel and could improve ad inventory and viewing time. Article Title
• Positive Sentiment: The company also launched a $25 bundle pairing the Streaming Stick Plus with Fox One, which may help drive device sales and keep Roku’s ecosystem competitive. Article Title
• Positive Sentiment: Roku has been benefiting from a bullish narrative around its growing household reach and stronger live-sports positioning, which investors may see as supportive of future ad and platform revenue. Article Title

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Morgan Stanley raised their target price on shares of Roku from $150.00 to $170.00 and gave the company an “overweight” rating in a research note on Thursday. Wells Fargo & Company raised their target price on shares of Roku from $137.00 to $167.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. UBS Group set a $170.00 target price on shares of Roku in a research note on Thursday, May 28th. Stifel Nicolaus set a $160.00 target price on shares of Roku in a research note on Monday, March 2nd. Finally, Citigroup reiterated a “market outperform” rating on shares of Roku in a research note on Thursday, May 28th. Twenty-two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Roku has a consensus rating of “Moderate Buy” and an average price target of $145.29.

Roku Profile

Roku, Inc (NASDAQ: ROKU) is a technology company that develops and operates a proprietary streaming platform designed to deliver entertainment content to consumers via internet-connected devices and smart televisions. Since its inception in 2002 in California, Roku has focused on simplifying access to streaming services for viewers worldwide. The company’s platform enables users to discover, access and manage a wide array of over-the-top content from major streaming services, free ad-supported channels and niche providers.

At the core of Roku’s product lineup are a range of streaming players and sticks, which connect to televisions via HDMI and deliver the Roku OS experience.