Everence Capital Management Inc. Purchases New Shares in Roku, Inc. (NASDAQ:ROKU)

Everence Capital Management Inc. acquired a new position in shares of Roku, Inc. (NASDAQ:ROKU) in the fourth quarter, Holdings Channel.com reports. The firm acquired 4,710 shares of the company’s stock, valued at approximately $350,000.

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

Roku Stock Performance

ROKU stock opened at $79.91 on Tuesday. The company’s 50 day moving average price is $75.47 and its 200 day moving average price is $69.54. The firm has a market capitalization of $11.60 billion, a price-to-earnings ratio of -66.59 and a beta of 2.05. Roku, Inc. has a fifty-two week low of $48.33 and a fifty-two week high of $99.80.

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

Insider Activity at Roku

In other Roku news, CFO Dan Jedda sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $82.73, for a total transaction of $82,730.00. Following the sale, the chief financial officer now owns 64,555 shares of the company’s stock, valued at approximately $5,340,635.15. This trade represents a 1.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Charles Collier sold 10,771 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $71.14, for a total transaction of $766,248.94. Following the sale, the insider now owns 3,790 shares of the company’s stock, valued at $269,620.60. This represents a 73.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 73,095 shares of company stock valued at $5,661,038 over the last quarter. 13.98% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ROKU shares. Macquarie restated an “outperform” rating and set a $90.00 price target on shares of Roku in a report on Thursday, October 31st. Robert W. Baird raised Roku from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $70.00 to $90.00 in a research report on Monday, November 18th. Wolfe Research raised shares of Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 target price on the stock in a research report on Thursday, September 12th. Citigroup lifted their price target on shares of Roku from $60.00 to $77.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Roku from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $83.81.

Roku 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.