Ardmore Road Asset Management LP Sells 56,024 Shares of Roku, Inc. (NASDAQ:ROKU)

Ardmore Road Asset Management LP lowered its holdings in shares of Roku, Inc. (NASDAQ:ROKU) by 22.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 193,976 shares of the company’s stock after selling 56,024 shares during the period. Roku comprises 2.1% of Ardmore Road Asset Management LP’s portfolio, making the stock its 22nd largest holding. Ardmore Road Asset Management LP owned approximately 0.13% of Roku worth $14,420,000 at the end of the most recent quarter.

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

Insider Activity at Roku

In other news, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $79.77, for a total transaction of $1,994,250.00. Following the completion of the transaction, the chief executive officer now directly owns 26,538 shares of the company’s stock, valued at $2,116,936.26. This trade represents a 48.51 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Dan Jedda sold 1,000 shares of the business’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 $75,000.00. Following the completion of 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 97,908 shares of company stock valued at $8,633,436. 13.98% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on ROKU shares. Benchmark increased their price target on Roku from $100.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Wells Fargo & Company upgraded Roku from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $74.00 to $129.00 in a report on Friday, February 14th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $86.00 price target on shares of Roku in a report on Thursday, February 13th. JMP Securities increased their price objective on shares of Roku from $95.00 to $115.00 and gave the stock a “market outperform” rating in a report on Friday, February 14th. Finally, Bank of America initiated coverage on shares of Roku in a research note on Thursday, March 27th. They issued a “buy” rating and a $100.00 target price for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $96.55.

Roku Stock Up 0.2 %

Shares of ROKU stock opened at $70.60 on Wednesday. Roku, Inc. has a 12-month low of $48.33 and a 12-month high of $104.96. The firm has a fifty day moving average of $80.80 and a 200-day moving average of $77.67. The company has a market capitalization of $10.30 billion, a price-to-earnings ratio of -79.33 and a beta of 2.12.

Roku (NASDAQ:ROKU) last released its earnings results on Thursday, February 13th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.20. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Roku had a negative return on equity of 5.34% and a negative net margin of 3.15%. On average, equities analysts expect that Roku, Inc. will post -0.3 EPS for the current year.

About Roku

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.