Raymond James Financial Inc. Makes New $2.95 Million Investment in Roku, Inc. (NASDAQ:ROKU)

Raymond James Financial Inc. bought a new position in shares of Roku, Inc. (NASDAQ:ROKU - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 39,687 shares of the company's stock, valued at approximately $2,950,000.

Several other hedge funds have also recently bought and sold shares of the stock. Farther Finance Advisors LLC increased its position in shares of Roku by 23.9% during the fourth quarter. Farther Finance Advisors LLC now owns 627 shares of the company's stock worth $47,000 after acquiring an additional 121 shares in the last quarter. Cerity Partners LLC increased its holdings in Roku by 0.5% during the 4th quarter. Cerity Partners LLC now owns 26,679 shares of the company's stock worth $1,984,000 after purchasing an additional 145 shares in the last quarter. Richard W. Paul & Associates LLC lifted its holdings in shares of Roku by 1.1% in the fourth quarter. Richard W. Paul & Associates LLC now owns 15,997 shares of the company's stock valued at $1,189,000 after purchasing an additional 177 shares in the last quarter. CIBC Asset Management Inc boosted its position in shares of Roku by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 3,859 shares of the company's stock worth $287,000 after buying an additional 191 shares during the period. Finally, PFG Investments LLC boosted its position in shares of Roku by 4.9% during the fourth quarter. PFG Investments LLC now owns 4,361 shares of the company's stock worth $324,000 after buying an additional 204 shares during the period. 86.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ROKU has been the topic of several research reports. Wedbush cut their target price on Roku from $125.00 to $100.00 and set an "outperform" rating on the stock in a research note on Monday. Benchmark restated a "buy" rating and set a $130.00 target price on shares of Roku in a report on Monday, April 21st. Citizens Jmp upgraded shares of Roku to a "strong-buy" rating in a research note on Tuesday, January 21st. Compass Point initiated coverage on shares of Roku in a research note on Sunday, March 23rd. They set a "buy" rating for the company. Finally, JPMorgan Chase & Co. lowered their target price on Roku from $115.00 to $75.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $90.39.

Insider Buying and Selling at Roku

In related news, CAO Matthew C. Banks sold 1,906 shares of the business's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $80.36, for a total value of $153,166.16. Following the completion of the transaction, the chief accounting officer now owns 7,256 shares of the company's stock, valued at $583,092.16. The trade was a 20.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $87.93, for a total transaction of $2,198,250.00. Following the sale, the chief executive officer now owns 26,538 shares in the company, valued at $2,333,486.34. The trade was a 48.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 71,905 shares of company stock valued at $6,560,876 in the last three months. Corporate insiders own 13.98% of the company's stock.

Roku Stock Performance

ROKU traded down $0.98 on Thursday, reaching $67.20. The company had a trading volume of 6,141,674 shares, compared to its average volume of 3,695,013. The company's fifty day moving average is $69.62 and its 200 day moving average is $75.36. The stock has a market cap of $9.81 billion, a P/E ratio of -75.49 and a beta of 2.17. Roku, Inc. has a fifty-two week low of $48.33 and a fifty-two week high of $104.96.

Roku (NASDAQ:ROKU - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.44) by $0.20. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.15 billion. On average, sell-side analysts expect that Roku, Inc. will post -0.3 EPS 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.