Roku, Inc. (NASDAQ:ROKU) Position Cut by RedJay Asset Management Inc.

RedJay Asset Management Inc. reduced its position in Roku, Inc. (NASDAQ:ROKU - Free Report) by 33.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 100,000 shares of the company's stock after selling 50,000 shares during the period. Roku comprises about 4.5% of RedJay Asset Management Inc.'s portfolio, making the stock its 14th biggest holding. RedJay Asset Management Inc. owned about 0.07% of Roku worth $7,434,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Entropy Technologies LP increased its position in Roku by 264.4% during the fourth quarter. Entropy Technologies LP now owns 25,525 shares of the company's stock worth $1,898,000 after purchasing an additional 18,520 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in shares of Roku by 505.3% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,296,774 shares of the company's stock valued at $96,402,000 after purchasing an additional 1,082,548 shares during the period. Geode Capital Management LLC boosted its stake in shares of Roku by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 2,147,259 shares of the company's stock valued at $159,353,000 after purchasing an additional 56,820 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Roku by 3.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 990,867 shares of the company's stock worth $73,661,000 after acquiring an additional 34,898 shares during the last quarter. Finally, Achmea Investment Management B.V. lifted its stake in Roku by 146.4% in the fourth quarter. Achmea Investment Management B.V. now owns 10,168 shares of the company's stock worth $756,000 after acquiring an additional 6,042 shares during the last quarter. 86.30% of the stock is currently owned by institutional investors and hedge funds.

Roku Trading Up 4.3%

NASDAQ:ROKU traded up $2.97 during trading hours on Tuesday, hitting $71.98. The stock had a trading volume of 3,429,710 shares, compared to its average volume of 3,774,358. Roku, Inc. has a 1-year low of $48.33 and a 1-year high of $104.96. The business has a 50 day simple moving average of $65.96 and a two-hundred day simple moving average of $74.46. The company has a market cap of $10.51 billion, a PE ratio of -80.88 and a beta of 2.06.

Roku (NASDAQ:ROKU - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.08. The company had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $1.01 billion. Roku had a negative return on equity of 5.34% and a negative net margin of 3.15%. The business's revenue was up 15.8% on a year-over-year basis. During the same period in the prior year, the business posted ($0.35) EPS. Research analysts expect that Roku, Inc. will post -0.3 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ROKU has been the topic of a number of research analyst reports. Bank of America began coverage on shares of Roku in a report on Thursday, March 27th. They set a "buy" rating and a $100.00 price objective on the stock. UBS Group dropped their price objective on shares of Roku from $90.00 to $72.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. Wedbush dropped their price objective on shares of Roku from $125.00 to $100.00 and set an "outperform" rating on the stock in a research note on Monday, April 28th. Guggenheim restated a "buy" rating and set a $100.00 target price on shares of Roku in a research report on Friday, May 2nd. Finally, Redburn Atlantic upgraded shares of Roku from a "neutral" rating to a "buy" rating and set a $100.00 target price on the stock in a research report on Monday, April 7th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $87.93.

Insider Buying and Selling

In related news, insider Charles Collier sold 7,181 shares of the firm's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $78.25, for a total transaction of $561,913.25. Following the transaction, the insider now directly owns 7,380 shares in the company, valued at $577,485. This trade represents a 49.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Matthew C. Banks sold 1,906 shares of the firm's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $80.36, for a total value of $153,166.16. Following the transaction, the chief accounting officer now owns 7,256 shares in the company, valued at $583,092.16. This trade represents a 20.80% 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 worth $1,164,215 over the last ninety days. 13.98% of the stock is owned by insiders.

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.