Kessler Investment Group LLC Invests $5.56 Million in Roku, Inc. (NASDAQ:ROKU)

Kessler Investment Group LLC purchased a new stake in shares of Roku, Inc. (NASDAQ:ROKU - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 60,640 shares of the company's stock, valued at approximately $5,558,000. Roku makes up approximately 3.4% of Kessler Investment Group LLC's investment portfolio, making the stock its 12th biggest position.

Other large investors also recently bought and sold shares of the company. Harbour Investments Inc. grew its stake in shares of Roku by 3.3% during the 3rd quarter. Harbour Investments Inc. now owns 3,499 shares of the company's stock valued at $247,000 after acquiring an additional 113 shares during the period. Spire Wealth Management increased its stake in shares of Roku by 35.3% in the third quarter. Spire Wealth Management now owns 621 shares of the company's stock worth $44,000 after purchasing an additional 162 shares in the last quarter. Arizona State Retirement System increased its stake in shares of Roku by 0.5% in the third quarter. Arizona State Retirement System now owns 33,655 shares of the company's stock worth $2,376,000 after purchasing an additional 173 shares in the last quarter. Amalgamated Bank raised its position in shares of Roku by 1.0% during the 4th quarter. Amalgamated Bank now owns 19,820 shares of the company's stock valued at $1,817,000 after purchasing an additional 191 shares during the period. Finally, Cyndeo Wealth Partners LLC lifted its stake in shares of Roku by 4.6% during the 4th quarter. Cyndeo Wealth Partners LLC now owns 4,703 shares of the company's stock valued at $431,000 after buying an additional 206 shares in the last quarter. 86.30% of the stock is currently owned by institutional investors.

Roku Trading Down 3.9 %

NASDAQ:ROKU traded down $2.33 during midday trading on Friday, hitting $57.91. 3,391,226 shares of the company traded hands, compared to its average volume of 4,916,597. The firm has a market capitalization of $8.35 billion, a P/E ratio of -14.51 and a beta of 1.69. The firm's fifty day moving average is $61.66 and its 200-day moving average is $78.02. Roku, Inc. has a 12-month low of $51.62 and a 12-month high of $108.84.

Roku (NASDAQ:ROKU - Get Free Report) last announced its earnings results on Thursday, April 25th. The company reported ($0.35) earnings per share for the quarter, beating the consensus estimate of ($0.64) by $0.29. Roku had a negative net margin of 15.64% and a negative return on equity of 23.81%. The business had revenue of $881.50 million for the quarter, compared to the consensus estimate of $843.54 million. During the same quarter in the prior year, the firm posted ($1.38) earnings per share. The business's revenue for the quarter was up 19.0% on a year-over-year basis. On average, research analysts expect that Roku, Inc. will post -1.94 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Jefferies Financial Group began coverage on Roku in a research note on Thursday, May 2nd. They issued an "underperform" rating and a $50.00 price target for the company. Morgan Stanley lowered their price target on Roku from $65.00 to $60.00 and set an "underweight" rating on the stock in a report on Friday, April 5th. Benchmark cut their price objective on shares of Roku from $115.00 to $105.00 and set a "buy" rating for the company in a report on Friday, April 26th. Needham & Company LLC reissued a "buy" rating and issued a $100.00 target price on shares of Roku in a report on Friday, April 26th. Finally, Stephens restated an "overweight" rating and set a $105.00 target price on shares of Roku in a research report on Friday, February 16th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $82.50.

Insiders Place Their Bets

In other news, insider Charles Collier sold 4,182 shares of the company's stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $65.00, for a total transaction of $271,830.00. Following the transaction, the insider now owns 8,474 shares of the company's stock, valued at $550,810. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $98.64, for a total transaction of $2,466,000.00. Following the completion of the sale, the chief executive officer now owns 141,221 shares in the company, valued at approximately $13,930,039.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Charles Collier sold 4,182 shares of the company's stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $65.00, for a total transaction of $271,830.00. Following the completion of the transaction, the insider now owns 8,474 shares in the company, valued at $550,810. The disclosure for this sale can be found here. Insiders sold a total of 54,751 shares of company stock valued at $4,375,835 over the last 90 days. Insiders own 13.63% of the company's stock.

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.