OppenheimerFunds Inc. increased its position in Roku Inc (NASDAQ:ROKU) by 2.2% in the first quarter, HoldingsChannel.com reports. The fund owned 559,680 shares of the company’s stock after acquiring an additional 12,200 shares during the quarter. OppenheimerFunds Inc.’s holdings in Roku were worth $36,105,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Roku in the fourth quarter valued at approximately $14,477,000. Canada Pension Plan Investment Board bought a new position in shares of Roku in the fourth quarter valued at approximately $9,228,000. Essex Investment Management Co. LLC bought a new position in shares of Roku in the fourth quarter valued at approximately $49,000. Cambridge Investment Research Advisors Inc. boosted its position in shares of Roku by 31.9% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 40,024 shares of the company’s stock valued at $1,226,000 after acquiring an additional 9,691 shares during the period. Finally, Oakmont Corp bought a new position in shares of Roku in the fourth quarter valued at approximately $22,342,000. Institutional investors own 50.52% of the company’s stock.
A number of equities analysts have recently commented on ROKU shares. Vertical Group upgraded shares of Roku from a “negative” rating to a “mixed” rating in a research report on Wednesday, May 1st. Citigroup lifted their target price on shares of Roku from $44.00 to $53.00 and gave the company a “neutral” rating in a research report on Monday, February 25th. DA Davidson lifted their target price on shares of Roku to $60.00 and gave the company an “average” rating in a research report on Friday, February 22nd. SunTrust Banks lifted their target price on shares of Roku to $63.00 and gave the company a “hold” rating in a research report on Wednesday, March 13th. They noted that the move was a valuation call. Finally, Zacks Investment Research lowered shares of Roku from a “buy” rating to a “hold” rating in a research report on Saturday, February 23rd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. Roku has a consensus rating of “Buy” and an average price target of $80.51.
Roku (NASDAQ:ROKU) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.09) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.24) by $0.15. The firm had revenue of $206.70 million during the quarter, compared to analyst estimates of $189.80 million. Roku had a negative net margin of 1.47% and a negative return on equity of 4.60%. The business’s quarterly revenue was up 51.3% on a year-over-year basis. During the same period in the previous year, the business posted ($0.07) EPS. Analysts anticipate that Roku Inc will post -0.6 EPS for the current year.
In other news, CEO Anthony J. Wood sold 35,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $68.70, for a total value of $2,404,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeff Hastings sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $70.00, for a total transaction of $140,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 250,887 shares of company stock valued at $19,186,100. Company insiders own 22.70% of the company’s stock.
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Roku Company Profile
Roku, Inc operates a TV streaming platform. The company operates in two segments, Platform and Player. Its platform allows users to discover and access various movies and TV episodes, as well as live sports, music, news, and others. As of December 31, 2018, the company had 27.1 million active accounts.
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