Jacobs Levy Equity Management Inc. Purchases 1,082,548 Shares of Roku, Inc. (NASDAQ:ROKU)

Jacobs Levy Equity Management Inc. raised its holdings in shares of Roku, Inc. (NASDAQ:ROKU - Free Report) by 505.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,296,774 shares of the company's stock after acquiring an additional 1,082,548 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.89% of Roku worth $96,402,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in ROKU. Graham Capital Management L.P. lifted its holdings in Roku by 374.0% in the 4th quarter. Graham Capital Management L.P. now owns 46,804 shares of the company's stock worth $3,479,000 after purchasing an additional 36,929 shares in the last quarter. Deutsche Bank AG lifted its holdings in shares of Roku by 46.1% in the fourth quarter. Deutsche Bank AG now owns 331,682 shares of the company's stock worth $24,657,000 after buying an additional 104,723 shares in the last quarter. Concentric Capital Strategies LP bought a new position in shares of Roku during the fourth quarter worth $1,795,000. Corton Capital Inc. grew its stake in Roku by 8.3% during the fourth quarter. Corton Capital Inc. now owns 4,880 shares of the company's stock valued at $363,000 after acquiring an additional 372 shares in the last quarter. Finally, Cetera Investment Advisers lifted its stake in Roku by 6.3% in the 4th quarter. Cetera Investment Advisers now owns 43,085 shares of the company's stock worth $3,203,000 after purchasing an additional 2,545 shares in the last quarter. 86.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Roku

In other Roku news, CEO Anthony J. Wood sold 4,600 shares of the stock in a transaction dated Thursday, March 20th. The shares were 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. This represents a 42.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Matthew C. Banks sold 1,906 shares of the business's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $80.36, for a total transaction of $153,166.16. Following the completion of the sale, the chief accounting officer now owns 7,256 shares of the company's stock, valued at approximately $583,092.16. This represents a 20.80 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 72,111 shares of company stock valued at $6,575,362. 13.98% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Needham & Company LLC reaffirmed a "buy" rating and issued a $88.50 target price on shares of Roku in a report on Friday, May 2nd. Benchmark reaffirmed a "buy" rating and set a $130.00 price objective on shares of Roku in a report on Friday, May 2nd. Pivotal Research cut their target price on shares of Roku from $125.00 to $100.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Redburn Atlantic raised shares of Roku from a "neutral" rating to a "buy" rating and set a $100.00 price target on the stock in a research note on Monday, April 7th. Finally, Rosenblatt Securities dropped their price objective on shares of Roku from $100.00 to $75.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Roku has a consensus rating of "Moderate Buy" and a consensus price target of $87.93.

Roku Price Performance

Roku stock opened at $60.93 on Friday. The stock has a market cap of $8.89 billion, a price-to-earnings ratio of -68.46 and a beta of 2.06. The firm has a 50-day moving average of $66.49 and a two-hundred day moving average of $74.59. Roku, Inc. has a 1 year low of $48.33 and a 1 year high of $104.96.

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

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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