Citigroup Inc. Buys 42,837 Shares of Roku, Inc. (NASDAQ:ROKU)

Citigroup Inc. grew its stake in Roku, Inc. (NASDAQ:ROKU) by 73.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 101,529 shares of the company’s stock after purchasing an additional 42,837 shares during the period. Citigroup Inc. owned approximately 0.07% of Roku worth $7,580,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of ROKU. Price T Rowe Associates Inc. MD lifted its stake in shares of Roku by 4.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 71,174 shares of the company’s stock worth $4,640,000 after acquiring an additional 3,104 shares during the last quarter. Swedbank AB bought a new position in shares of Roku during the 1st quarter worth $1,180,000. Cetera Investment Advisers raised its holdings in shares of Roku by 240.3% in the first quarter. Cetera Investment Advisers now owns 41,805 shares of the company’s stock valued at $2,724,000 after acquiring an additional 29,521 shares in the last quarter. DekaBank Deutsche Girozentrale increased its position in Roku by 2.9% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 15,408 shares of the company’s stock valued at $1,007,000 after purchasing an additional 438 shares during the period. Finally, Versant Capital Management Inc increased its holdings in Roku by 706.2% during the second quarter. Versant Capital Management Inc now owns 911 shares of the company’s stock valued at $55,000 after buying an additional 798 shares during the period. Hedge funds and other institutional investors own 86.30% of the company’s stock.

Insider Activity at Roku

In other Roku news, insider Charles Collier sold 15,454 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $75.00, for a total transaction of $1,159,050.00. Following the transaction, the insider now directly owns 200 shares in the company, valued at $15,000. This represents a 98.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $77.20, for a total value of $1,930,000.00. Following the completion of the sale, the chief executive officer now directly owns 5,020 shares of the company’s stock, valued at $387,544. The trade was a 83.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 90,240 shares of company stock worth $6,729,582. Insiders own 13.98% of the company’s stock.

Roku Stock Performance

Shares of ROKU opened at $69.03 on Friday. Roku, Inc. has a one year low of $48.33 and a one year high of $108.84. The stock has a market capitalization of $10.02 billion, a price-to-earnings ratio of -57.53 and a beta of 2.07. The stock has a 50 day moving average price of $73.63 and a 200 day moving average price of $65.36.

Roku (NASDAQ:ROKU) last issued its earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.29. Roku had a negative return on equity of 7.22% and a negative net margin of 4.42%. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same period in the previous year, the firm posted ($2.33) EPS. The business’s revenue for the quarter was up 16.5% compared to the same quarter last year. On average, analysts predict that Roku, Inc. will post -1.1 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Jefferies Financial Group cut their target price on Roku from $60.00 to $55.00 and set an “underperform” rating on the stock in a research note on Friday, November 1st. Wells Fargo & Company upped their price target on shares of Roku from $72.00 to $74.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. boosted their price target on Roku from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Rosenblatt Securities upped their price objective on shares of Roku from $61.00 to $86.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, Wolfe Research upgraded Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 target price on the stock in a research note on Thursday, September 12th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $82.62.

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.