Graham Capital Management L.P. Grows Position in Roku, Inc. (NASDAQ:ROKU)

Graham Capital Management L.P. grew its stake in Roku, Inc. (NASDAQ:ROKU) by 374.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,804 shares of the company’s stock after acquiring an additional 36,929 shares during the quarter. Graham Capital Management L.P.’s holdings in Roku were worth $3,479,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Deutsche Bank AG lifted its holdings in Roku by 46.1% in the 4th quarter. Deutsche Bank AG now owns 331,682 shares of the company’s stock valued at $24,657,000 after purchasing an additional 104,723 shares in the last quarter. Concentric Capital Strategies LP purchased a new position in shares of Roku during the fourth quarter valued at approximately $1,795,000. Corton Capital Inc. boosted its position in Roku by 8.3% during the fourth quarter. Corton Capital Inc. now owns 4,880 shares of the company’s stock worth $363,000 after acquiring an additional 372 shares during the last quarter. Cetera Investment Advisers grew its stake in Roku by 6.3% in the 4th quarter. Cetera Investment Advisers now owns 43,085 shares of the company’s stock worth $3,203,000 after acquiring an additional 2,545 shares during the period. Finally, Bridgefront Capital LLC acquired a new position in Roku in the 4th quarter valued at $330,000. Institutional investors and hedge funds own 86.30% of the company’s stock.

Roku Price Performance

NASDAQ ROKU opened at $60.93 on Friday. The company has a market capitalization of $8.89 billion, a price-to-earnings ratio of -68.46 and a beta of 2.06. Roku, Inc. has a 12 month low of $48.33 and a 12 month high of $104.96. The company’s fifty day moving average price is $66.49 and its two-hundred day moving average price is $74.59.

Roku (NASDAQ:ROKU) last issued its quarterly earnings results on Thursday, May 1st. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.08. The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. The company’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter last year, the company posted ($0.35) earnings per share. As a group, analysts anticipate that Roku, Inc. will post -0.3 EPS for the current year.

Insider Transactions at Roku

In other Roku news, CFO Dan Jedda sold 5,000 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $100.40, for a total transaction of $502,000.00. Following the sale, the chief financial officer now directly owns 58,555 shares of the company’s stock, valued at approximately $5,878,922. This represents a 7.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Anthony J. Wood sold 4,600 shares of Roku stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $75.00, for a total transaction of $345,000.00. Following the completion of the transaction, the chief executive officer now directly owns 6,243 shares of the company’s stock, valued at $468,225. This trade represents a 42.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 72,111 shares of company stock worth $6,575,362. 13.98% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Benchmark reaffirmed a “buy” rating and issued a $130.00 price objective on shares of Roku in a research report on Friday, May 2nd. Citizens Jmp upgraded Roku to a “strong-buy” rating in a report on Tuesday, January 21st. Guggenheim reiterated a “buy” rating and set a $100.00 price objective on shares of Roku in a report on Friday, May 2nd. Jefferies Financial Group upgraded shares of Roku from an “underperform” rating to a “hold” rating and boosted their target price for the company from $55.00 to $100.00 in a report on Thursday, February 20th. Finally, Redburn Atlantic raised shares of Roku from a “neutral” rating to a “buy” rating and set a $100.00 price target on the stock in a research note on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Roku currently has an average rating of “Moderate Buy” and a consensus target price of $87.93.

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.