Pilgrim Partners Asia Pte Ltd Acquires New Position in Roku, Inc. (NASDAQ:ROKU)

Pilgrim Partners Asia Pte Ltd bought a new position in Roku, Inc. (NASDAQ:ROKU) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,645 shares of the company’s stock, valued at approximately $122,000.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Roku by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 12,249,091 shares of the company’s stock worth $910,597,000 after acquiring an additional 185,676 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Roku by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 2,147,259 shares of the company’s stock valued at $159,353,000 after buying an additional 56,820 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Roku by 3.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 990,867 shares of the company’s stock worth $73,661,000 after buying an additional 34,898 shares during the last quarter. Jupiter Asset Management Ltd. raised its position in Roku by 164.5% during the fourth quarter. Jupiter Asset Management Ltd. now owns 506,351 shares of the company’s stock valued at $37,642,000 after acquiring an additional 314,931 shares in the last quarter. Finally, Andra AP fonden lifted its stake in Roku by 5.3% in the fourth quarter. Andra AP fonden now owns 490,600 shares of the company’s stock valued at $36,471,000 after acquiring an additional 24,600 shares during the last quarter. Institutional investors and hedge funds own 86.30% of the company’s stock.

Insider Transactions at Roku

In related news, CFO Dan Jedda sold 1,000 shares of the stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $75.00, for a total transaction of $75,000.00. Following the sale, the chief financial officer now directly owns 68,843 shares in the company, valued at $5,163,225. This represents a 1.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Matthew C. Banks sold 1,906 shares of Roku stock in a transaction 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 completion of the transaction, the chief accounting officer now owns 7,256 shares of the company’s stock, valued at approximately $583,092.16. The trade was a 20.80 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 97,905 shares of company stock valued at $8,632,306. 13.98% of the stock is owned by insiders.

Analysts Set New Price Targets

ROKU has been the subject of several analyst reports. Bank of America began coverage on shares of Roku in a research note on Thursday, March 27th. They issued a “buy” rating and a $100.00 price objective for the company. Wells Fargo & Company upgraded Roku from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $74.00 to $129.00 in a research note on Friday, February 14th. Benchmark raised their price objective on Roku from $100.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Moffett Nathanson upgraded Roku from a “sell” rating to a “neutral” rating and set a $70.00 price target on the stock in a report on Tuesday, March 4th. Finally, Citigroup upgraded shares of Roku from a “neutral” rating to an “outperform” rating in a research note on Sunday, March 23rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $96.55.

Roku Stock Down 8.3 %

NASDAQ:ROKU opened at $55.28 on Friday. The firm has a 50-day moving average price of $79.65 and a 200 day moving average price of $77.37. The firm has a market capitalization of $8.07 billion, a PE ratio of -62.11 and a beta of 2.17. Roku, Inc. has a 12-month low of $48.33 and a 12-month high of $104.96.

Roku (NASDAQ:ROKU) last posted its earnings results on Thursday, February 13th. The company reported ($0.24) EPS 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. On average, research analysts expect that Roku, Inc. will post -0.3 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.