KLP Kapitalforvaltning AS Purchases Shares of 74,600 Roku, Inc. (NASDAQ:ROKU)

KLP Kapitalforvaltning AS acquired a new position in shares of Roku, Inc. (NASDAQ:ROKU) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 74,600 shares of the company’s stock, valued at approximately $5,546,000.

A number of other large investors have also recently made changes to their positions in ROKU. Geneos Wealth Management Inc. lifted its position in Roku by 369.9% during the 4th quarter. Geneos Wealth Management Inc. now owns 343 shares of the company’s stock worth $25,000 after acquiring an additional 270 shares during the period. Vision Financial Markets LLC purchased a new position in shares of Roku in the fourth quarter worth about $30,000. Raelipskie Partnership acquired a new stake in shares of Roku during the third quarter worth about $32,000. Game Plan Financial Advisors LLC purchased a new stake in Roku in the fourth quarter valued at approximately $37,000. Finally, Harvest Fund Management Co. Ltd increased its holdings in Roku by 4,091.7% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 503 shares of the company’s stock worth $37,000 after buying an additional 491 shares during the period. 86.30% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Roku

In other Roku news, CAO Matthew C. Banks sold 1,906 shares of the business’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $80.36, for a total transaction of $153,166.16. Following 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Dan Jedda sold 1,000 shares of the firm’s stock in a transaction on Thursday, March 20th. The stock was 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 68,843 shares of the company’s stock, 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. Insiders sold 97,908 shares of company stock valued at $8,633,436 over the last 90 days. 13.98% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have commented on ROKU. UBS Group lifted their price objective on shares of Roku from $73.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Pivotal Research upgraded Roku from a “hold” rating to a “buy” rating and lifted their price objective for the company from $65.00 to $125.00 in a research note on Friday, February 14th. Compass Point initiated coverage on Roku in a research note on Sunday. They issued a “buy” rating on the stock. JMP Securities raised their target price on Roku from $95.00 to $115.00 and gave the stock a “market outperform” rating in a report on Friday, February 14th. Finally, JPMorgan Chase & Co. boosted their price target on Roku from $92.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Roku has a consensus rating of “Moderate Buy” and an average price target of $97.67.

Roku Trading Up 0.6 %

ROKU stock opened at $81.73 on Wednesday. Roku, Inc. has a 12-month low of $48.33 and a 12-month high of $104.96. The business’s 50-day moving average is $81.12 and its 200 day moving average is $77.54. The stock has a market cap of $11.93 billion, a price-to-earnings ratio of -91.83 and a beta of 2.12.

Roku (NASDAQ:ROKU) last issued its quarterly earnings results on Thursday, February 13th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.15 billion. As a group, equities analysts forecast that Roku, Inc. will post -0.3 EPS for the current fiscal 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.