Forsta AP Fonden Takes $1.84 Million Position in Roku, Inc. (NASDAQ:ROKU)

Forsta AP Fonden purchased a new stake in Roku, Inc. (NASDAQ:ROKU - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm purchased 26,100 shares of the company's stock, valued at approximately $1,838,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Roku in the 1st quarter valued at $6,026,000. Jacobs Levy Equity Management Inc. increased its position in shares of Roku by 505.3% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,296,774 shares of the company's stock worth $96,402,000 after purchasing an additional 1,082,548 shares in the last quarter. Lecap Asset Management Ltd. acquired a new position in shares of Roku during the first quarter worth $511,000. J. Goldman & Co LP increased its position in shares of Roku by 973.1% during the fourth quarter. J. Goldman & Co LP now owns 354,326 shares of the company's stock worth $26,341,000 after purchasing an additional 321,307 shares in the last quarter. Finally, Siemens Fonds Invest GmbH acquired a new position in shares of Roku during the fourth quarter worth $1,681,000. 86.30% of the stock is currently owned by hedge funds and other institutional investors.

Roku Stock Performance

NASDAQ:ROKU opened at $84.32 on Wednesday. Roku, Inc. has a one year low of $52.43 and a one year high of $104.96. The firm has a market cap of $12.42 billion, a price-to-earnings ratio of -200.76, a PEG ratio of 11.48 and a beta of 2.05. The firm's fifty day moving average is $85.41 and its two-hundred day moving average is $77.22.

Roku (NASDAQ:ROKU - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.07 EPS for the quarter, beating the consensus estimate of ($0.16) by $0.23. Roku had a negative net margin of 1.40% and a negative return on equity of 2.44%. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period in the prior year, the company earned ($0.18) earnings per share. The firm's revenue was up 14.7% on a year-over-year basis. As a group, equities research analysts predict that Roku, Inc. will post -0.3 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Dan Jedda sold 3,000 shares of the stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $90.20, for a total transaction of $270,600.00. Following the sale, the chief financial officer directly owned 76,132 shares of the company's stock, valued at $6,867,106.40. This represents a 3.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Charles Collier sold 212,559 shares of the stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $95.00, for a total transaction of $20,193,105.00. Following the sale, the insider directly owned 200 shares in the company, valued at approximately $19,000. The trade was a 99.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 337,233 shares of company stock valued at $30,423,181. Insiders own 13.98% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Guggenheim upped their price target on Roku from $100.00 to $105.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Benchmark reaffirmed a "buy" rating and set a $130.00 price target on shares of Roku in a research report on Friday, May 2nd. Wells Fargo & Company upped their price target on Roku from $100.00 to $113.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Bank of America upped their price target on Roku from $100.00 to $110.00 and gave the stock a "buy" rating in a research report on Thursday, July 3rd. Finally, Piper Sandler upped their price target on Roku from $65.00 to $84.00 and gave the stock a "neutral" rating in a research report on Thursday, July 10th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $98.96.

Roku Company 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.

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