Sigma Planning Corp Raises Position in Roku, Inc. (NASDAQ:ROKU)

Sigma Planning Corp lifted its holdings in shares of Roku, Inc. (NASDAQ:ROKU) by 8.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 8,935 shares of the company’s stock after acquiring an additional 679 shares during the period. Sigma Planning Corp’s holdings in Roku were worth $664,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in ROKU. Holocene Advisors LP acquired a new stake in Roku in the 3rd quarter worth about $129,015,000. Westfield Capital Management Co. LP boosted 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 worth $114,646,000 after acquiring an additional 856,401 shares during the last quarter. Point72 Asset Management L.P. grew its holdings in 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 boosted its holdings in shares of 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 purchasing an additional 244,793 shares during the last quarter. Hedge funds and other institutional investors own 86.30% of the company’s stock.

Insider Activity

In other news, CFO Dan Jedda sold 1,000 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $82.73, for a total value of $82,730.00. Following the completion of the sale, the chief financial officer now owns 64,555 shares of the company’s stock, valued at $5,340,635.15. This trade represents a 1.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Anthony J. Wood sold 25,000 shares of the company’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $79.77, for a total value of $1,994,250.00. Following the transaction, the chief executive officer now directly owns 26,538 shares in the company, valued at $2,116,936.26. The trade was a 48.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 109,421 shares of company stock worth $9,660,786 over the last three months. Corporate insiders own 13.98% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on ROKU. Citizens Jmp raised Roku to a “strong-buy” rating in a research report on Tuesday, January 21st. Pivotal Research upgraded Roku from a “hold” rating to a “buy” rating and raised their price objective for the stock from $65.00 to $125.00 in a report on Friday, February 14th. Macquarie reiterated an “outperform” rating and set a $90.00 target price on shares of Roku in a report on Thursday, October 31st. JPMorgan Chase & Co. raised their price target on shares of Roku from $92.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Finally, Wells Fargo & Company upgraded shares of Roku from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $74.00 to $129.00 in a research note on Friday, February 14th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Roku presently has an average rating of “Moderate Buy” and an average target price of $96.00.

Roku Price Performance

ROKU stock opened at $85.57 on Thursday. The firm has a fifty day moving average price of $81.88 and a two-hundred day moving average price of $75.77. Roku, Inc. has a 1-year low of $48.33 and a 1-year high of $104.96. The firm has a market cap of $12.49 billion, a price-to-earnings ratio of -96.15 and a beta of 2.05.

Roku (NASDAQ:ROKU) last posted its earnings results on Thursday, February 13th. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.44) by $0.20. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.15 billion. Roku had a negative return on equity of 5.34% and a negative net margin of 3.15%. As a group, analysts expect 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.