Edgestream Partners L.P. Grows Holdings in Roku, Inc. (NASDAQ:ROKU)

Edgestream Partners L.P. increased its position in Roku, Inc. (NASDAQ:ROKU) by 56.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,846 shares of the company’s stock after acquiring an additional 7,158 shares during the quarter. Edgestream Partners L.P.’s holdings in Roku were worth $1,475,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC increased its holdings 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 acquiring an additional 244,793 shares in the last quarter. Holocene Advisors LP purchased a new stake in Roku in the 3rd quarter worth approximately $129,015,000. Westfield Capital Management Co. LP increased its holdings in Roku by 126.1% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,535,576 shares of the company’s stock worth $114,646,000 after acquiring an additional 856,401 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Roku by 3.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 990,867 shares of the company’s stock worth $73,661,000 after acquiring an additional 34,898 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its holdings in Roku by 352.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 651,658 shares of the company’s stock worth $48,653,000 after acquiring an additional 507,643 shares in the last quarter. 86.30% of the stock is owned by hedge funds and other institutional investors.

Roku Stock Performance

NASDAQ:ROKU opened at $71.15 on Tuesday. The stock’s fifty day moving average is $82.22 and its 200 day moving average is $77.11. Roku, Inc. has a fifty-two week low of $48.33 and a fifty-two week high of $104.96. The firm has a market capitalization of $10.38 billion, a PE ratio of -79.94 and a beta of 2.12.

Roku (NASDAQ:ROKU) last released its quarterly earnings results on Thursday, February 13th. The company reported ($0.24) earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $1.15 billion. Equities analysts forecast that Roku, Inc. will post -0.3 EPS for the current year.

Insider Activity at Roku

In other Roku news, CAO Matthew C. Banks sold 1,906 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $80.36, for a total value of $153,166.16. Following the sale, the chief accounting officer now owns 7,256 shares in the company, valued at $583,092.16. This trade represents a 20.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $79.77, for a total value of $1,994,250.00. Following the completion of the sale, the chief executive officer now owns 26,538 shares in the company, valued at approximately $2,116,936.26. The trade was a 48.51 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 93,308 shares of company stock worth $8,296,166. Company insiders own 13.98% of the company’s stock.

Wall Street Analyst Weigh In

ROKU has been the subject of several analyst reports. Loop Capital increased their target price on shares of Roku from $70.00 to $80.00 and gave the stock a “hold” rating in a report on Monday, December 9th. JMP Securities upped their price target on Roku from $95.00 to $115.00 and gave the stock a “market outperform” rating in a research note on Friday, February 14th. Robert W. Baird upgraded Roku from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $70.00 to $90.00 in a research note on Monday, November 18th. Citizens Jmp upgraded Roku to a “strong-buy” rating in a research note on Tuesday, January 21st. Finally, Baird R W upgraded Roku from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 18th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $96.71.

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.