12,000 Shares in Roku, Inc. (NASDAQ:ROKU) Purchased by Summit Partners Public Asset Management LLC

Summit Partners Public Asset Management LLC acquired a new position in Roku, Inc. (NASDAQ:ROKU) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 12,000 shares of the company’s stock, valued at approximately $896,000.

Several other large investors also recently added to or reduced their stakes in the company. True Vision MN LLC increased its holdings in Roku by 3.1% in the 3rd quarter. True Vision MN LLC now owns 5,018 shares of the company’s stock worth $375,000 after acquiring an additional 152 shares during the last quarter. Blueshift Asset Management LLC purchased a new stake in Roku in the 3rd quarter worth about $2,157,000. Brooklyn Investment Group bought a new position in Roku in the 3rd quarter worth about $95,000. FMR LLC boosted its stake in Roku by 1.7% in the 3rd quarter. FMR LLC now owns 14,570,372 shares of the company’s stock worth $1,087,824,000 after purchasing an additional 244,793 shares during the period. Finally, Mirabella Financial Services LLP bought a new position in Roku in the 3rd quarter worth about $2,104,000. Hedge funds and other institutional investors own 86.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Benchmark restated a “buy” rating and issued a $105.00 target price on shares of Roku in a research note on Thursday, September 12th. Guggenheim upgraded Roku from a “neutral” rating to a “buy” rating and set a $75.00 price target for the company in a research report on Friday, August 23rd. Wedbush lifted their price target on Roku from $75.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. lifted their price target on Roku from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Finally, Morgan Stanley lifted their price target on Roku from $60.00 to $65.00 and gave the company an “underweight” rating in a research report on Tuesday, October 29th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $82.62.

Insider Activity

In related news, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $75.00, for a total value of $1,875,000.00. Following the sale, the chief executive officer now owns 5,020 shares in the company, valued at approximately $376,500. The trade was a 83.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Charles Collier sold 15,454 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $75.00, for a total transaction of $1,159,050.00. Following the sale, the insider now directly owns 200 shares in the company, valued at approximately $15,000. The trade was a 98.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 90,240 shares of company stock valued at $6,729,582 in the last ninety days. Corporate insiders own 13.98% of the company’s stock.

Roku Stock Up 2.1 %

Shares of ROKU stock opened at $67.71 on Friday. The company has a 50 day simple moving average of $73.77 and a two-hundred day simple moving average of $65.28. Roku, Inc. has a 12 month low of $48.33 and a 12 month high of $108.84.

Roku (NASDAQ:ROKU) last posted its quarterly earnings data on Wednesday, October 30th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.29. Roku had a negative return on equity of 7.22% and a negative net margin of 4.42%. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same period in the prior year, the business posted ($2.33) EPS. Roku’s revenue was up 16.5% on a year-over-year basis. On average, research analysts expect that Roku, Inc. will post -1.1 earnings per share for the current fiscal 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.