Raymond James Financial Inc. Purchases New Stake in Roku, Inc. (NASDAQ:ROKU)

Raymond James Financial Inc. acquired a new position in Roku, Inc. (NASDAQ:ROKU) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 39,687 shares of the company’s stock, valued at approximately $2,950,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Entropy Technologies LP grew its stake in Roku by 264.4% in the 4th quarter. Entropy Technologies LP now owns 25,525 shares of the company’s stock worth $1,898,000 after buying an additional 18,520 shares in the last quarter. Holocene Advisors LP purchased a new stake in Roku in the third quarter worth $129,015,000. National Bank of Canada FI grew its stake in shares of Roku by 11,626.3% in the 3rd quarter. National Bank of Canada FI now owns 150,800 shares of the company’s stock worth $11,259,000 after buying an additional 149,514 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Roku by 3.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 990,867 shares of the company’s stock valued at $73,661,000 after buying an additional 34,898 shares during the last quarter. Finally, Citigroup Inc. lifted its stake in Roku by 73.0% during the 3rd quarter. Citigroup Inc. now owns 101,529 shares of the company’s stock valued at $7,580,000 after acquiring an additional 42,837 shares during the period. 86.30% of the stock is owned by institutional investors.

Insider Buying and Selling at Roku

In other news, CEO Anthony J. Wood sold 4,600 shares of Roku stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $75.00, for a total value of $345,000.00. Following the sale, the chief executive officer now directly owns 6,243 shares of the company’s stock, valued at $468,225. The trade was a 42.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Matthew C. Banks sold 1,906 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $80.36, for a total transaction of $153,166.16. Following the completion of the transaction, the chief accounting officer now directly owns 7,256 shares in the company, valued at approximately $583,092.16. This represents a 20.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 97,908 shares of company stock valued at $8,633,436. 13.98% of the stock is owned by insiders.

Roku Stock Down 4.7 %

Shares of ROKU stock opened at $72.49 on Friday. The company’s 50 day moving average is $81.10 and its 200 day moving average is $77.59. The firm has a market cap of $10.58 billion, a price-to-earnings ratio of -81.45 and a beta of 2.12. Roku, Inc. has a 52-week low of $48.33 and a 52-week high of $104.96.

Roku (NASDAQ:ROKU) last announced its quarterly earnings data on Thursday, February 13th. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.44) by $0.20. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.15 billion. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. Analysts anticipate that Roku, Inc. will post -0.3 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ROKU shares. Citizens Jmp upgraded Roku to a “strong-buy” rating in a research note on Tuesday, January 21st. Pivotal Research raised shares of Roku from a “hold” rating to a “buy” rating and raised their target price for the company from $65.00 to $125.00 in a research note on Friday, February 14th. JPMorgan Chase & Co. boosted their price target on shares of Roku from $92.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. JMP Securities raised their price objective on Roku from $95.00 to $115.00 and gave the company a “market outperform” rating in a research note on Friday, February 14th. Finally, FBN Securities assumed coverage on shares of Roku in a research note on Friday. They issued an “outperform” rating and a $93.00 target price on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $96.55.

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.