Kessler Investment Group LLC Acquires 4,773 Shares of Roku, Inc. (NASDAQ:ROKU)

Kessler Investment Group LLC grew its position in shares of Roku, Inc. (NASDAQ:ROKU - Free Report) by 6.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 79,516 shares of the company's stock after buying an additional 4,773 shares during the period. Roku accounts for 2.7% of Kessler Investment Group LLC's investment portfolio, making the stock its 19th largest position. Kessler Investment Group LLC owned about 0.05% of Roku worth $5,601,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC raised its stake in Roku by 31.7% in the 4th quarter. FMR LLC now owns 19,183,942 shares of the company's stock valued at $1,426,134,000 after acquiring an additional 4,613,570 shares during the period. Vanguard Group Inc. increased its stake in shares of Roku by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 12,249,091 shares of the company's stock worth $910,597,000 after purchasing an additional 185,676 shares in the last quarter. Marshall Wace LLP raised its position in shares of Roku by 663.9% in the fourth quarter. Marshall Wace LLP now owns 2,335,813 shares of the company's stock valued at $173,644,000 after purchasing an additional 2,030,036 shares during the period. T. Rowe Price Investment Management Inc. grew its stake in Roku by 10.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,269,751 shares of the company's stock valued at $168,734,000 after buying an additional 215,841 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Roku by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 2,147,259 shares of the company's stock valued at $159,353,000 after buying an additional 56,820 shares in the last quarter. Institutional investors own 86.30% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Needham & Company LLC reaffirmed a "buy" rating and issued a $88.50 price target on shares of Roku in a report on Tuesday, June 17th. Piper Sandler began coverage on Roku in a report on Thursday, April 17th. They set a "neutral" rating and a $65.00 price objective on the stock. Guggenheim restated a "buy" rating and issued a $100.00 target price on shares of Roku in a research note on Friday, May 2nd. UBS Group decreased their price target on Roku from $90.00 to $72.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Finally, Wedbush reissued an "outperform" rating and issued a $100.00 price target on shares of Roku in a report on Monday, June 16th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Roku presently has a consensus rating of "Moderate Buy" and an average price target of $89.93.

Roku Price Performance

ROKU stock traded up $0.44 during mid-day trading on Friday, hitting $86.94. 3,629,316 shares of the stock were exchanged, compared to its average volume of 3,868,284. The business has a fifty day moving average price of $72.09 and a 200 day moving average price of $75.17. Roku, Inc. has a 12 month low of $48.33 and a 12 month high of $104.96. The stock has a market capitalization of $12.69 billion, a price-to-earnings ratio of -119.09 and a beta of 2.09.

Roku (NASDAQ:ROKU - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported ($0.19) earnings per share for the quarter, beating analysts' consensus estimates of ($0.27) by $0.08. The company had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.01 billion. Roku had a negative return on equity of 4.29% and a negative net margin of 2.49%. Roku's revenue for the quarter was up 15.8% compared to the same quarter last year. During the same period last year, the firm posted ($0.35) EPS. As a group, equities analysts forecast that Roku, Inc. will post -0.3 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Matthew C. Banks sold 629 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $72.98, for a total transaction of $45,904.42. Following the transaction, the chief accounting officer now directly owns 8,555 shares in the company, valued at $624,343.90. This trade represents a 6.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $75.00, for a total value of $1,875,000.00. Following the sale, the chief executive officer now directly owns 6,243 shares of the company's stock, valued at approximately $468,225. This trade represents a 80.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold 64,227 shares of company stock valued at $4,994,244 over the last three months. Insiders own 13.98% of the company's stock.

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.