Summit Trail Advisors LLC Grows Stock Position in Roku, Inc. (NASDAQ:ROKU)

Summit Trail Advisors LLC lifted its stake in Roku, Inc. (NASDAQ:ROKU) by 57.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,509 shares of the company’s stock after buying an additional 2,748 shares during the quarter. Summit Trail Advisors LLC’s holdings in Roku were worth $558,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Holocene Advisors LP acquired a new stake in Roku during the third quarter valued at $129,015,000. Westfield Capital Management Co. LP increased its position in shares of Roku by 126.1% in the third quarter. Westfield Capital Management Co. LP now owns 1,535,576 shares of the company’s stock valued at $114,646,000 after buying an additional 856,401 shares in the last quarter. Point72 Asset Management L.P. raised its stake in shares of Roku by 352.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 651,658 shares of the company’s stock worth $48,653,000 after buying an additional 507,643 shares during the period. JAT Capital Mgmt LP lifted its position in shares of Roku by 470.2% during the 3rd quarter. JAT Capital Mgmt LP now owns 540,577 shares of the company’s stock valued at $40,359,000 after buying an additional 445,777 shares in the last quarter. Finally, FMR LLC grew its stake in Roku by 1.7% in the 3rd quarter. FMR LLC now owns 14,570,372 shares of the company’s stock valued at $1,087,824,000 after acquiring an additional 244,793 shares during the period. Hedge funds and other institutional investors own 86.30% of the company’s stock.

Insider Buying and Selling

In other news, CAO Matthew C. Banks sold 8,693 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $71.44, for a total transaction of $621,027.92. Following the completion of the transaction, the chief accounting officer now directly owns 7,264 shares in the company, valued at $518,940.16. This trade represents a 54.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Dan Jedda sold 1,000 shares of Roku stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $75.00, for a total value of $75,000.00. Following the completion of the sale, the chief financial officer now directly owns 65,555 shares of the company’s stock, valued at $4,916,625. The trade was a 1.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 72,885 shares of company stock valued at $5,712,912. 13.98% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ROKU. Baird R W upgraded shares of Roku from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 18th. Robert W. Baird raised Roku from a “neutral” rating to an “outperform” rating and increased their target price for the company from $70.00 to $90.00 in a report on Monday, November 18th. Piper Sandler lifted their price target on Roku from $60.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price objective on shares of Roku in a research note on Tuesday, January 7th. Finally, Loop Capital lifted their target price on shares of Roku from $70.00 to $80.00 and gave the stock a “hold” rating in a research note on Monday, December 9th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Roku presently has an average rating of “Moderate Buy” and a consensus target price of $83.18.

Roku Stock Down 2.2 %

ROKU stock opened at $82.75 on Wednesday. Roku, Inc. has a 52-week low of $48.33 and a 52-week high of $99.80. The business has a fifty day moving average of $79.99 and a two-hundred day moving average of $73.03. The stock has a market cap of $12.02 billion, a price-to-earnings ratio of -68.96 and a beta of 2.05.

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.