Shellback Capital LP Buys New Position in Roku, Inc. (NASDAQ:ROKU)

Shellback Capital LP purchased a new position in shares of Roku, Inc. (NASDAQ:ROKU - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 60,000 shares of the company's stock, valued at approximately $4,460,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ROKU. FMR LLC boosted its stake in shares of Roku by 31.7% in the fourth quarter. FMR LLC now owns 19,183,942 shares of the company's stock valued at $1,426,134,000 after purchasing an additional 4,613,570 shares during the period. Marshall Wace LLP increased its position in shares of Roku by 663.9% during the fourth quarter. Marshall Wace LLP now owns 2,335,813 shares of the company's stock worth $173,644,000 after acquiring an additional 2,030,036 shares during the last quarter. Cadian Capital Management LP acquired a new position in shares of Roku in the fourth quarter worth about $87,632,000. Jacobs Levy Equity Management Inc. lifted its stake in shares of Roku by 505.3% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,296,774 shares of the company's stock worth $96,402,000 after acquiring an additional 1,082,548 shares in the last quarter. Finally, Gilder Gagnon Howe & Co. LLC boosted its holdings in Roku by 214.1% in the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 864,974 shares of the company's stock valued at $64,302,000 after purchasing an additional 589,610 shares during the last quarter. Hedge funds and other institutional investors own 86.30% of the company's stock.

Insider Activity at Roku

In other Roku news, CFO Dan Jedda sold 1,000 shares of the stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $75.00, for a total transaction of $75,000.00. Following the completion of the transaction, the chief financial officer now directly owns 68,843 shares of the company's stock, valued at approximately $5,163,225. This trade represents a 1.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Anthony J. Wood sold 4,600 shares of the company's stock in a transaction 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 owns 6,243 shares of the company's stock, valued at approximately $468,225. This trade represents a 42.42% decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,111 shares of company stock worth $1,365,112 in the last 90 days. Corporate insiders own 13.98% of the company's stock.

Roku Trading Down 2.5%

NASDAQ ROKU opened at $70.07 on Friday. The company has a 50-day moving average price of $65.88 and a two-hundred day moving average price of $74.47. The stock has a market cap of $10.23 billion, a price-to-earnings ratio of -78.73 and a beta of 2.06. Roku, Inc. has a 52 week low of $48.33 and a 52 week 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, topping analysts' consensus estimates of ($0.27) by $0.08. The company 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%. The firm's quarterly revenue was up 15.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.35) EPS. As a group, equities research analysts expect that Roku, Inc. will post -0.3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ROKU. Loop Capital reduced their target price on Roku from $90.00 to $80.00 and set a "hold" rating for the company in a research note on Friday, May 2nd. Evercore ISI cut their price target on shares of Roku from $105.00 to $80.00 and set an "in-line" 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 for the company in a research report on Tuesday, March 4th. Needham & Company LLC restated a "buy" rating and issued a $88.50 target price on shares of Roku in a research note on Monday. Finally, Wells Fargo & Company decreased their price target on Roku from $129.00 to $93.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. One 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $87.93.

Roku Company 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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