RedJay Asset Management Inc. Sells 50,000 Shares of Roku, Inc. (NASDAQ:ROKU)

RedJay Asset Management Inc. trimmed its holdings in Roku, Inc. (NASDAQ:ROKU - Free Report) by 33.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100,000 shares of the company's stock after selling 50,000 shares during the quarter. Roku comprises 4.5% of RedJay Asset Management Inc.'s portfolio, making the stock its 14th largest holding. RedJay Asset Management Inc. owned about 0.07% of Roku worth $7,434,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. FMR LLC lifted its position in Roku by 31.7% in 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 lifted its position in Roku by 663.9% in 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. Cadian Capital Management LP acquired a new stake in Roku in the fourth quarter worth approximately $87,632,000. Jacobs Levy Equity Management Inc. lifted its position in Roku by 505.3% in 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 during the period. Finally, Two Sigma Investments LP lifted its position in Roku by 149.8% in the fourth quarter. Two Sigma Investments LP now owns 1,210,879 shares of the company's stock worth $90,017,000 after purchasing an additional 726,077 shares during the period. 86.30% of the stock is owned by institutional investors.

Roku Stock Performance

Shares of NASDAQ ROKU traded up $1.98 during mid-day trading on Wednesday, reaching $73.96. The company had a trading volume of 3,122,301 shares, compared to its average volume of 3,771,763. Roku, Inc. has a twelve month low of $48.33 and a twelve month high of $104.96. The stock has a market capitalization of $10.79 billion, a PE ratio of -83.10 and a beta of 2.06. The stock's 50 day moving average is $65.96 and its 200-day moving average is $74.46.

Roku (NASDAQ:ROKU - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported ($0.19) earnings per share for the quarter, topping analysts' consensus estimates of ($0.27) by $0.08. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the prior year, the business posted ($0.35) earnings per share. Roku's revenue for the quarter was up 15.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Roku, Inc. will post -0.3 EPS for the current year.

Insiders Place Their Bets

In other Roku news, CAO Matthew C. Banks sold 1,906 shares of the stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $80.36, for a total transaction of $153,166.16. Following the transaction, the chief accounting officer now directly owns 7,256 shares of the company's stock, valued at $583,092.16. This represents a 20.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Anthony J. Wood sold 4,600 shares of the stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $75.00, for a total transaction of $345,000.00. Following the transaction, the chief executive officer now directly owns 6,243 shares in the company, valued at $468,225. The trade was a 42.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,100 shares of company stock valued at $1,164,215 over the last three months. 13.98% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on ROKU shares. Loop Capital cut their price objective on Roku from $90.00 to $80.00 and set a "hold" rating for the company in a research report on Friday, May 2nd. Guggenheim reiterated a "buy" rating and set a $100.00 price objective on shares of Roku in a research report on Friday, May 2nd. Moffett Nathanson upgraded Roku from a "sell" rating to a "neutral" rating and set a $70.00 price objective for the company in a research report on Tuesday, March 4th. Needham & Company LLC reiterated a "buy" rating and set a $88.50 price objective on shares of Roku in a research report on Monday, May 12th. Finally, Jefferies Financial Group upgraded Roku from an "underperform" rating to a "hold" rating and increased their price objective for the company from $55.00 to $100.00 in a research report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $87.93.

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.