Clare Market Investments LLC Invests $324,000 in Roku, Inc. (NASDAQ:ROKU)
Clare Market Investments LLC has invested $324,000 in Roku, Inc. by acquiring 4,363 shares in the fourth quarter. Other institutional investors, including Zurcher Kantonalbank and Amundi, have also increased their stakes in Roku. Insider transactions revealed significant stock sales by executives, with 93,308 shares sold in the last quarter. Analysts have mixed ratings on Roku, with price targets ranging from $70 to $125. Currently, Roku's stock is down 7.2%, trading at $71.15, with a market cap of $10.38 billion.
Clare Market Investments LLC bought a new position in shares of Roku, Inc. (NASDAQ:ROKU - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,363 shares of the company's stock, valued at approximately $324,000.
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A number of other large investors have also modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Roku by 14.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,052 shares of the company's stock worth $1,937,000 after buying an additional 3,367 shares in the last quarter. AlphaQuest LLC purchased a new position in shares of Roku during the 4th quarter worth approximately $79,000. Amundi raised its stake in shares of Roku by 50.4% during the 4th quarter. Amundi now owns 182,186 shares of the company's stock worth $13,544,000 after buying an additional 61,056 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Roku by 12.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,008 shares of the company's stock worth $224,000 after buying an additional 338 shares in the last quarter. Finally, Aviance Capital Partners LLC raised its stake in shares of Roku by 37.6% during the 4th quarter. Aviance Capital Partners LLC now owns 18,380 shares of the company's stock worth $1,366,000 after buying an additional 5,024 shares in the last quarter. 86.30% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Roku
In related news, insider Charles Collier sold 7,181 shares of Roku stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $78.25, for a total value of $561,913.25. Following the transaction, the insider now owns 7,380 shares in the company, valued at approximately $577,485. This trade represents a 49.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction on Friday, January 10th. The shares were sold at an average price of $79.77, for a total value of $1,994,250.00. Following the completion of the transaction, the chief executive officer now owns 26,538 shares in the company, valued at $2,116,936.26. The trade was a 48.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 93,308 shares of company stock worth $8,296,166 over the last quarter. 13.98% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
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Several equities analysts recently weighed in on ROKU shares. Citigroup raised their price objective on Roku from $70.00 to $103.00 and gave the company a "neutral" rating in a research note on Thursday, February 20th. Pivotal Research raised Roku from a "hold" rating to a "buy" rating and raised their price objective for the company from $65.00 to $125.00 in a research note on Friday, February 14th. Needham & Company LLC reaffirmed a "buy" rating and issued a $100.00 price objective on shares of Roku in a research note on Tuesday, January 7th. Rosenblatt Securities reaffirmed a "neutral" rating and issued a $86.00 price objective on shares of Roku in a research note on Thursday, February 13th. Finally, JPMorgan Chase & Co. raised their price objective on Roku from $92.00 to $115.00 and gave the company an "overweight" rating in a research note on Friday, February 14th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Roku presently has an average rating of "Moderate Buy" and a consensus price target of $96.71.
View Our Latest Stock Analysis on ROKU
Roku Stock Down 7.2 %
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ROKU stock opened at $71.15 on Tuesday. Roku, Inc. has a 52-week low of $48.33 and a 52-week high of $104.96. The stock's fifty day simple moving average is $82.22 and its 200-day simple moving average is $77.11. The stock has a market capitalization of $10.38 billion, a price-to-earnings ratio of -79.94 and a beta of 2.12.
Roku (NASDAQ:ROKU - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.20 billion for the quarter, compared to analysts' expectations of $1.15 billion. As a group, analysts anticipate that Roku, Inc. will post -0.3 earnings per share for the current fiscal year.
Roku Profile
(Free Report)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.
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Want to see what other hedge funds are holding ROKU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Roku, Inc. (NASDAQ:ROKU - Free Report).
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