Tremblant Capital Group Buys Shares of 581,383 Roku, Inc. (NASDAQ:ROKU)

Tremblant Capital Group bought a new stake in shares of Roku, Inc. (NASDAQ:ROKU - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 581,383 shares of the company's stock, valued at approximately $43,220,000. Roku makes up about 4.5% of Tremblant Capital Group's investment portfolio, making the stock its 5th largest position. Tremblant Capital Group owned 0.40% of Roku as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Geneos Wealth Management Inc. increased its stake in shares of Roku by 369.9% during the fourth quarter. Geneos Wealth Management Inc. now owns 343 shares of the company's stock valued at $25,000 after purchasing an additional 270 shares in the last quarter. Vision Financial Markets LLC bought a new stake in shares of Roku during the fourth quarter valued at approximately $30,000. Game Plan Financial Advisors LLC bought a new stake in shares of Roku during the fourth quarter valued at approximately $37,000. Harvest Fund Management Co. Ltd increased its position in shares of Roku by 4,091.7% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 503 shares of the company's stock valued at $37,000 after acquiring an additional 491 shares in the last quarter. Finally, Allianz SE bought a new stake in shares of Roku during the fourth quarter valued at approximately $39,000. Institutional investors own 86.30% of the company's stock.

Insider Activity at Roku

In other Roku news, insider Charles Collier sold 7,181 shares of Roku stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $78.25, for a total value of $561,913.25. Following the sale, the insider now directly owns 7,380 shares in the company, valued at approximately $577,485. The trade was a 49.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Dan Jedda sold 2,000 shares of Roku stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $99.95, for a total transaction of $199,900.00. Following the completion of the sale, the chief financial officer now owns 56,555 shares in the company, valued at approximately $5,652,672.25. This represents a 3.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,111 shares of company stock worth $1,365,112. 13.98% of the stock is owned by corporate insiders.

Roku Stock Performance

ROKU opened at $71.37 on Monday. Roku, Inc. has a fifty-two week low of $48.33 and a fifty-two week high of $104.96. The firm's fifty day moving average is $65.92 and its 200 day moving average is $74.49. The stock has a market cap of $10.42 billion, a price-to-earnings ratio of -80.19 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) earnings per share for the quarter, beating 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 company had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.01 billion. During the same quarter in the previous year, the company earned ($0.35) EPS. Roku's revenue for the quarter was up 15.8% on a year-over-year basis. On average, equities research analysts predict that Roku, Inc. will post -0.3 earnings per share for the current year.

Analysts Set New Price Targets

ROKU has been the subject of several analyst reports. JMP Securities reissued a "market outperform" rating and set a $95.00 price target on shares of Roku in a research report on Friday, May 2nd. Moffett Nathanson raised 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. JPMorgan Chase & Co. reduced their price target on shares of Roku from $115.00 to $75.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Jefferies Financial Group raised shares of Roku from an "underperform" rating to a "hold" rating and raised their price target for the company from $55.00 to $100.00 in a research report on Thursday, February 20th. Finally, Wells Fargo & Company reduced their price target on shares of Roku from $129.00 to $93.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. One analyst has rated the stock with a sell rating, eight have given a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average 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.

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