Roku, Inc. (NASDAQ:ROKU) Position Boosted by Occudo Quantitative Strategies LP

Occudo Quantitative Strategies LP grew its stake in shares of Roku, Inc. (NASDAQ:ROKU - Free Report) by 207.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,345 shares of the company's stock after buying an additional 11,702 shares during the quarter. Occudo Quantitative Strategies LP's holdings in Roku were worth $1,289,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analysts Set New Price Targets

Several research firms have issued reports on ROKU. Rosenblatt Securities cut their price objective on Roku from $100.00 to $75.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Moffett Nathanson raised shares of Roku from a "sell" rating to a "neutral" rating and set a $70.00 target price on the stock in a research report on Tuesday, March 4th. Evercore ISI reduced 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. Needham & Company LLC reaffirmed a "buy" rating and issued a $88.50 price objective on shares of Roku in a research note on Monday. Finally, Loop Capital lowered their price objective on shares of Roku from $90.00 to $80.00 and set a "hold" rating on the stock in a research report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $87.93.

Insiders Place Their Bets

In related news, CFO Dan Jedda sold 5,000 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $100.40, for a total transaction of $502,000.00. Following the completion of the sale, the chief financial officer now owns 58,555 shares in the company, valued at $5,878,922. This represents a 7.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Anthony J. Wood sold 4,600 shares of the firm's stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $75.00, for a total value of $345,000.00. Following the completion of the sale, the chief executive officer now directly owns 6,243 shares in the company, valued at $468,225. This trade represents a 42.42% decrease in their position. The disclosure for this sale can be found here. Insiders sold 47,111 shares of company stock valued at $4,377,112 over the last 90 days. 13.98% of the stock is currently owned by company insiders.

Roku Stock Up 3.8%

Shares of ROKU opened at $71.40 on Wednesday. The firm has a market cap of $10.42 billion, a price-to-earnings ratio of -80.22 and a beta of 2.06. The company's fifty day moving average is $66.17 and its 200-day moving average is $74.55. Roku, Inc. has a 12 month low of $48.33 and a 12 month high of $104.96.

Roku (NASDAQ:ROKU - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported ($0.19) earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $1.01 billion. During the same period in the prior year, the company posted ($0.35) earnings per share. Roku's revenue for the quarter was up 15.8% on a year-over-year basis. As a group, research analysts predict 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.

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