Tairen Capital Ltd Buys Shares of 20,000 Roku, Inc. (NASDAQ:ROKU)

Tairen Capital Ltd bought a new position in Roku, Inc. (NASDAQ:ROKU - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 20,000 shares of the company's stock, valued at approximately $1,487,000.

Several other large investors have also bought and sold shares of ROKU. Entropy Technologies LP raised its holdings in shares of Roku by 264.4% during the fourth quarter. Entropy Technologies LP now owns 25,525 shares of the company's stock valued at $1,898,000 after purchasing an additional 18,520 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its holdings 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 valued at $96,402,000 after purchasing an additional 1,082,548 shares during the last quarter. Geode Capital Management LLC raised its holdings 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 valued at $159,353,000 after purchasing an additional 56,820 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Roku by 3.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 990,867 shares of the company's stock valued at $73,661,000 after purchasing an additional 34,898 shares during the last quarter. Finally, Achmea Investment Management B.V. raised its holdings in shares of Roku by 146.4% during the fourth quarter. Achmea Investment Management B.V. now owns 10,168 shares of the company's stock valued at $756,000 after purchasing an additional 6,042 shares during the last quarter. 86.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on ROKU shares. Bank of America started coverage on shares of Roku in a report on Thursday, March 27th. They set a "buy" rating and a $100.00 target price for the company. Citigroup reduced their target price on shares of Roku from $81.00 to $68.00 and set a "neutral" rating for the company in a report on Tuesday, May 6th. Evercore ISI dropped their price target on shares of Roku from $105.00 to $80.00 and set an "in-line" rating for the company in a research report on Friday, May 2nd. Moffett Nathanson upgraded shares of Roku from a "sell" rating to a "neutral" rating and set a $70.00 price target for the company in a research report on Tuesday, March 4th. Finally, Citizens Jmp upgraded shares of Roku to a "strong-buy" rating in a research report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $87.93.

Insider Activity

In related news, CFO Dan Jedda sold 1,000 shares of the firm's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $75.00, for a total value of $75,000.00. Following the transaction, the chief financial officer now owns 68,843 shares of the company's stock, valued at $5,163,225. This trade represents a 1.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Matthew C. Banks sold 1,906 shares of the firm's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $80.36, for a total transaction of $153,166.16. Following the completion of the transaction, the chief accounting officer now directly owns 7,256 shares in the company, valued at $583,092.16. This represents a 20.80% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,111 shares of company stock valued at $1,165,212. 13.98% of the stock is currently owned by company insiders.

Roku Price Performance

Shares of ROKU traded down $1.85 during midday trading on Wednesday, hitting $69.56. The stock had a trading volume of 3,629,400 shares, compared to its average volume of 3,771,109. Roku, Inc. has a 1 year low of $48.33 and a 1 year high of $104.96. The firm has a market cap of $10.15 billion, a PE ratio of -78.16 and a beta of 2.06. The stock's 50 day moving average is $66.03 and its 200 day moving average is $74.47.

Roku (NASDAQ:ROKU - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate 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 quarter in the prior year, the firm posted ($0.35) earnings per share. The business's revenue for the quarter was up 15.8% on a year-over-year basis. As a group, equities research analysts expect that Roku, Inc. will post -0.3 earnings per share for the current fiscal year.

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.