Bedell Frazier Investment Counselling LLC Makes New $3.70 Million Investment in Roku, Inc. (NASDAQ:ROKU)

Bedell Frazier Investment Counselling LLC bought a new stake in Roku, Inc. (NASDAQ:ROKU) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 49,726 shares of the company’s stock, valued at approximately $3,697,000.

Several other large investors have also modified their holdings of the stock. Geneos Wealth Management Inc. lifted its position in Roku by 369.9% in the fourth quarter. Geneos Wealth Management Inc. now owns 343 shares of the company’s stock valued at $25,000 after purchasing an additional 270 shares during the period. Vision Financial Markets LLC acquired a new stake in shares of Roku in the 4th quarter valued at approximately $30,000. Raelipskie Partnership purchased a new stake in shares of Roku in the third quarter valued at approximately $32,000. Game Plan Financial Advisors LLC acquired a new position in Roku during the fourth quarter worth $37,000. Finally, Harvest Fund Management Co. Ltd raised its position in Roku by 4,091.7% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 503 shares of the company’s stock worth $37,000 after acquiring an additional 491 shares in the last quarter. Hedge funds and other institutional investors own 86.30% of the company’s stock.

Roku Stock Down 4.7 %

ROKU stock opened at $72.49 on Monday. The stock has a market capitalization of $10.58 billion, a price-to-earnings ratio of -81.45 and a beta of 2.12. The stock’s fifty day simple moving average is $81.10 and its 200-day simple moving average is $77.72. Roku, Inc. has a 52-week low of $48.33 and a 52-week high of $104.96.

Roku (NASDAQ:ROKU) last posted its quarterly earnings data on Thursday, February 13th. The company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.20. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.15 billion. As a group, analysts anticipate that Roku, Inc. will post -0.3 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Roku news, insider Charles Collier sold 7,181 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $78.25, for a total transaction of $561,913.25. Following the completion of the sale, the insider now owns 7,380 shares in the company, valued at $577,485. This trade represents a 49.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Anthony J. Wood sold 4,600 shares of the firm’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $75.00, for a total transaction of $345,000.00. Following the transaction, the chief executive officer now directly owns 6,243 shares of the company’s stock, valued at approximately $468,225. This represents a 42.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 97,908 shares of company stock valued at $8,633,436 over the last quarter. Company insiders own 13.98% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Citizens Jmp raised shares of Roku to a “strong-buy” rating in a research note on Tuesday, January 21st. Citigroup upgraded shares of Roku from a “neutral” rating to an “outperform” rating in a research report on Sunday, March 23rd. Wells Fargo & Company raised shares of Roku from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $74.00 to $129.00 in a report on Friday, February 14th. UBS Group raised Roku from a “hold” rating to a “strong-buy” rating in a research note on Thursday. Finally, Compass Point began coverage on Roku in a research note on Sunday, March 23rd. They issued a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, Roku has an average rating of “Moderate Buy” and an average price target of $96.55.

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.