Norges Bank Makes New Investment in Roku, Inc. $ROKU

Norges Bank bought a new stake in shares of Roku, Inc. (NASDAQ:ROKU) during the 2nd quarter, HoldingsChannel.com reports. The firm bought 139,553 shares of the company’s stock, valued at approximately $12,265,000.

Other hedge funds also recently modified their holdings of the company. DekaBank Deutsche Girozentrale grew its holdings in shares of Roku by 0.9% during the second quarter. DekaBank Deutsche Girozentrale now owns 15,550 shares of the company’s stock valued at $1,369,000 after buying an additional 142 shares in the last quarter. Nissay Asset Management Corp Japan ADV boosted its position in Roku by 1.0% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 15,575 shares of the company’s stock worth $1,097,000 after acquiring an additional 160 shares during the period. True Vision MN LLC grew its stake in Roku by 3.3% during the 2nd quarter. True Vision MN LLC now owns 5,544 shares of the company’s stock valued at $487,000 after acquiring an additional 179 shares in the last quarter. Stonekeep Investments LLC grew its stake in Roku by 4.9% during the 2nd quarter. Stonekeep Investments LLC now owns 4,084 shares of the company’s stock valued at $359,000 after acquiring an additional 191 shares in the last quarter. Finally, Neuberger Berman Group LLC increased its holdings in shares of Roku by 3.8% in the 1st quarter. Neuberger Berman Group LLC now owns 5,737 shares of the company’s stock valued at $404,000 after purchasing an additional 208 shares during the period. Hedge funds and other institutional investors own 86.30% of the company’s stock.

Roku Stock Up 1.6%

ROKU stock opened at $101.70 on Tuesday. The company has a market capitalization of $15.03 billion, a price-to-earnings ratio of -508.47 and a beta of 1.98. The firm has a 50 day moving average of $98.91 and a two-hundred day moving average of $91.84. Roku, Inc. has a 12 month low of $52.43 and a 12 month high of $116.66.

Roku (NASDAQ:ROKU) last issued its quarterly earnings data on Thursday, October 30th. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.09. Roku had a negative return on equity of 1.08% and a negative net margin of 0.61%.The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same quarter in the prior year, the firm posted ($0.06) EPS. The firm’s revenue for the quarter was up 14.0% on a year-over-year basis. On average, research analysts expect that Roku, Inc. will post -0.3 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented on ROKU shares. Susquehanna restated a “positive” rating and set a $130.00 price target on shares of Roku in a report on Friday, October 31st. Wedbush reiterated an “outperform” rating and issued a $110.00 target price on shares of Roku in a research report on Monday, October 27th. Wall Street Zen raised shares of Roku from a “hold” rating to a “buy” rating in a research note on Sunday. Citizens Jmp reaffirmed a “market outperform” rating and issued a $145.00 price target on shares of Roku in a research note on Tuesday, December 2nd. Finally, Piper Sandler upgraded Roku from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $88.00 to $135.00 in a report on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, six have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $113.14.

Insider Buying and Selling

In related news, CEO Anthony J. Wood sold 50,000 shares of Roku stock in a transaction on Monday, November 10th. The shares were sold at an average price of $103.86, for a total value of $5,193,000.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Charles Collier sold 118,088 shares of the business’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $115.00, for a total transaction of $13,580,120.00. Following the transaction, the insider directly owned 200 shares of the company’s stock, valued at approximately $23,000. This represents a 99.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 415,668 shares of company stock worth $43,965,186. Insiders own 13.98% of the company’s stock.

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.