T. Rowe Price Investment Management Inc. Purchases 215,841 Shares of Roku, Inc. (NASDAQ:ROKU)

T. Rowe Price Investment Management Inc. grew its stake in Roku, Inc. (NASDAQ:ROKU - Free Report) by 10.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,269,751 shares of the company's stock after acquiring an additional 215,841 shares during the quarter. T. Rowe Price Investment Management Inc. owned 1.56% of Roku worth $168,734,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ROKU. Price T Rowe Associates Inc. MD boosted its position in Roku by 7.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 85,071 shares of the company's stock worth $6,325,000 after purchasing an additional 5,809 shares during the period. Stifel Financial Corp increased its stake in Roku by 6.4% in the fourth quarter. Stifel Financial Corp now owns 27,048 shares of the company's stock valued at $2,011,000 after acquiring an additional 1,632 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its stake in shares of Roku by 278.0% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 28,041 shares of the company's stock valued at $2,085,000 after purchasing an additional 20,623 shares during the last quarter. Marshall Wace LLP raised its holdings in shares of Roku by 663.9% during the 4th quarter. Marshall Wace LLP now owns 2,335,813 shares of the company's stock worth $173,644,000 after buying an additional 2,030,036 shares in the last quarter. Finally, Jump Financial LLC boosted its stake in Roku by 583.3% in the fourth quarter. Jump Financial LLC now owns 120,383 shares of the company's stock valued at $8,949,000 after buying an additional 102,765 shares in the last quarter. 86.30% of the stock is owned by institutional investors.

Insider Buying and Selling at Roku

In other news, CFO Dan Jedda sold 1,000 shares of the company's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $75.00, for a total transaction of $75,000.00. Following the sale, the chief financial officer now directly owns 68,843 shares in the company, valued at approximately $5,163,225. This represents a 1.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of the company's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $87.93, for a total value of $2,198,250.00. Following the sale, the chief executive officer now owns 26,538 shares in the company, valued at approximately $2,333,486.34. This trade represents a 48.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 71,905 shares of company stock worth $6,560,876. Insiders own 13.98% of the company's stock.

Wall Street Analysts Forecast Growth

ROKU has been the subject of a number of research analyst reports. Pivotal Research upgraded shares of Roku from a "hold" rating to a "buy" rating and upped their price objective for the stock from $65.00 to $125.00 in a research report on Friday, February 14th. Jefferies Financial Group raised Roku from an "underperform" rating to a "hold" rating and upped their price objective for the company from $55.00 to $100.00 in a research note on Thursday, February 20th. Citizens Jmp upgraded shares of Roku to a "strong-buy" rating in a research report on Tuesday, January 21st. Bank of America began coverage on Roku in a research note on Thursday, March 27th. They issued a "buy" rating and a $100.00 price target for the company. Finally, UBS Group lowered their price objective on Roku from $90.00 to $72.00 and set a "neutral" rating for the company in a research report on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Roku has an average rating of "Moderate Buy" and a consensus target price of $89.93.

Roku Price Performance

Shares of NASDAQ:ROKU traded up $1.40 during trading on Monday, hitting $67.11. The company's stock had a trading volume of 1,504,042 shares, compared to its average volume of 3,708,226. The company has a 50-day moving average of $70.99 and a 200-day moving average of $75.52. The firm has a market cap of $9.79 billion, a price-to-earnings ratio of -75.12 and a beta of 2.17. 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 announced its quarterly earnings data on Thursday, February 13th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.44) by $0.20. Roku had a negative return on equity of 5.34% and a negative net margin of 3.15%. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.15 billion. As a group, research analysts anticipate that Roku, Inc. will post -0.3 earnings per share for the current year.

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.