Two Sigma Investments LP Has $90.02 Million Stock Position in Roku, Inc. (NASDAQ:ROKU)

Two Sigma Investments LP grew its stake in Roku, Inc. (NASDAQ:ROKU) by 149.8% in the 4th quarter, Holdings Channel.com reports. The fund owned 1,210,879 shares of the company’s stock after purchasing an additional 726,077 shares during the quarter. Two Sigma Investments LP’s holdings in Roku were worth $90,017,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Ameritas Advisory Services LLC acquired a new stake in shares of Roku during the fourth quarter worth $311,000. Janney Montgomery Scott LLC bought a new position in Roku in the fourth quarter valued at approximately $1,353,000. Mutual Advisors LLC bought a new position in shares of Roku in the 4th quarter valued at $207,000. Avior Wealth Management LLC raised its stake in Roku by 11.9% during the fourth quarter. Avior Wealth Management LLC now owns 7,180 shares of the company’s stock worth $534,000 after acquiring an additional 762 shares in the last quarter. Finally, Fifth Third Bancorp boosted its position in Roku by 24.9% in the fourth quarter. Fifth Third Bancorp now owns 1,119 shares of the company’s stock valued at $83,000 after buying an additional 223 shares in the last quarter. Institutional investors and hedge funds own 86.30% of the company’s stock.

Roku Stock Performance

Shares of ROKU stock opened at $70.83 on Tuesday. The stock has a fifty day simple moving average of $65.92 and a two-hundred day simple moving average of $74.52. The firm has a market capitalization of $10.34 billion, a PE ratio of -79.58 and a beta of 2.06. Roku, Inc. has a 52-week low of $48.33 and a 52-week high of $104.96.

Roku (NASDAQ:ROKU) last issued its earnings results on Thursday, May 1st. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.08. Roku had a negative return on equity of 5.34% and a negative net margin of 3.15%. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter last year, the company earned ($0.35) EPS. The firm’s quarterly revenue was up 15.8% on a year-over-year basis. On average, sell-side analysts forecast that Roku, Inc. will post -0.3 EPS for the current fiscal year.

Insiders Place Their Bets

In other Roku news, CFO Dan Jedda sold 1,000 shares of Roku stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $75.00, for a total value of $75,000.00. Following the sale, the chief financial officer now owns 68,843 shares of the company’s stock, valued at $5,163,225. The trade was a 1.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, 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 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 approximately $468,225. This trade 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 15,111 shares of company stock worth $1,165,212 in the last 90 days. 13.98% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on ROKU. Moffett Nathanson raised Roku from a “sell” rating to a “neutral” rating and set a $70.00 price objective for the company in a research note on Tuesday, March 4th. Benchmark restated a “buy” rating and issued a $130.00 price target on shares of Roku in a research report on Friday, May 2nd. Wells Fargo & Company cut their price target on shares of Roku from $129.00 to $93.00 and set an “overweight” rating on the stock in a report on Monday, April 28th. Loop Capital reduced their price objective on shares of Roku from $90.00 to $80.00 and set a “hold” rating on the stock in a research note on Friday, May 2nd. Finally, Piper Sandler started coverage on Roku in a report on Thursday, April 17th. They issued a “neutral” rating and a $65.00 price objective for the company. One analyst has rated the stock with a sell rating, eight have given a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $87.93.

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.