Blueshift Asset Management LLC Acquires New Shares in Roku, Inc. (NASDAQ:ROKU)

Key Points

• Blueshift Asset Management LLC has acquired a new position in Roku, Inc., purchasing 48,409 shares valued at approximately $3.41 million, making it the 5th largest position in their portfolio.
• Roku's stock has been positively reviewed by several analysts, with target prices ranging from $84.00 to $100.00 and a consensus rating of "Moderate Buy".
• For the most recent quarter, Roku reported $1.11 billion in revenue, exceeding expectations and showing a 14.7% year-over-year increase.

Blueshift Asset Management LLC acquired a new stake in Roku, Inc. (NASDAQ:ROKU - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 48,409 shares of the company's stock, valued at approximately $3,410,000. Roku comprises about 1.4% of Blueshift Asset Management LLC's holdings, making the stock its 5th largest position.

A number of other large investors also recently made changes to their positions in the company. FMR LLC increased its stake in shares of Roku by 31.7% during the fourth quarter. FMR LLC now owns 19,183,942 shares of the company's stock worth $1,426,134,000 after purchasing an additional 4,613,570 shares during the period. Marshall Wace LLP increased its stake in shares of Roku by 663.9% during the fourth quarter. Marshall Wace LLP now owns 2,335,813 shares of the company's stock worth $173,644,000 after purchasing an additional 2,030,036 shares during the period. T. Rowe Price Investment Management Inc. increased its stake in shares of Roku by 10.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,269,751 shares of the company's stock worth $168,734,000 after purchasing an additional 215,841 shares during the period. Geode Capital Management LLC increased its stake in shares of Roku by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 2,147,259 shares of the company's stock worth $159,353,000 after purchasing an additional 56,820 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of Roku by 38.0% during the fourth quarter. Renaissance Technologies LLC now owns 1,296,900 shares of the company's stock worth $96,412,000 after purchasing an additional 357,100 shares during the period. Institutional investors own 86.30% of the company's stock.

Roku Stock Down 15.1%

Shares of ROKU stock traded down $14.18 during trading hours on Friday, reaching $79.98. The company's stock had a trading volume of 15,358,882 shares, compared to its average volume of 2,951,984. The firm's 50 day simple moving average is $83.77 and its 200-day simple moving average is $76.97. The company has a market capitalization of $11.67 billion, a price-to-earnings ratio of -190.43 and a beta of 2.05. Roku, Inc. has a fifty-two week low of $48.33 and a fifty-two week high of $104.96.

Roku (NASDAQ:ROKU - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $0.07 earnings per share for the quarter, beating analysts' consensus estimates of ($0.16) by $0.23. Roku had a negative return on equity of 2.47% and a negative net margin of 1.40%. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the business posted ($0.18) EPS. The company's revenue was up 14.7% compared to the same quarter last year. Sell-side analysts predict that Roku, Inc. will post -0.3 earnings per share for the current year.

Insider Transactions at Roku

In related news, Director Mai Fyfield sold 914 shares of the firm's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $78.50, for a total transaction of $71,749.00. Following the sale, the director owned 4,374 shares of the company's stock, valued at $343,359. This trade represents a 17.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Dan Jedda sold 3,000 shares of the firm's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $90.20, for a total value of $270,600.00. Following the sale, the chief financial officer directly owned 76,132 shares in the company, valued at approximately $6,867,106.40. This trade represents a 3.79% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 308,873 shares of company stock worth $28,076,913. Insiders own 13.98% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ROKU. Susquehanna increased their target price on Roku from $85.00 to $110.00 and gave the stock a "positive" rating in a research note on Friday. Rosenblatt Securities increased their target price on Roku from $75.00 to $101.00 and gave the stock a "neutral" rating in a research note on Friday. Wedbush raised their price objective on Roku from $100.00 to $110.00 and gave the stock an "outperform" rating in a research note on Monday. Piper Sandler raised their price objective on Roku from $65.00 to $84.00 and gave the stock a "neutral" rating in a research note on Thursday, July 10th. Finally, Evercore ISI lowered their price objective on Roku from $105.00 to $80.00 and set an "in-line" rating on the stock in a research note on Friday, May 2nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $99.36.

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.