Fluent Financial LLC Invests $660,000 in Roku, Inc. (NASDAQ:ROKU)

Fluent Financial LLC acquired a new stake in shares of Roku, Inc. (NASDAQ:ROKU) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 8,882 shares of the company’s stock, valued at approximately $660,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ROKU. FMR LLC boosted its position in Roku by 31.7% during the 4th quarter. FMR LLC now owns 19,183,942 shares of the company’s stock valued at $1,426,134,000 after purchasing an additional 4,613,570 shares during the period. Marshall Wace LLP boosted its position in Roku by 663.9% during the 4th quarter. Marshall Wace LLP now owns 2,335,813 shares of the company’s stock valued at $173,644,000 after purchasing an additional 2,030,036 shares during the period. Cadian Capital Management LP acquired a new position in Roku during the 4th quarter valued at approximately $87,632,000. Jacobs Levy Equity Management Inc. boosted its position in Roku by 505.3% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,296,774 shares of the company’s stock valued at $96,402,000 after purchasing an additional 1,082,548 shares during the period. Finally, Two Sigma Investments LP boosted its position in Roku by 149.8% during the 4th quarter. Two Sigma Investments LP now owns 1,210,879 shares of the company’s stock valued at $90,017,000 after purchasing an additional 726,077 shares during the period. Institutional investors and hedge funds own 86.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on ROKU shares. FBN Securities started coverage on Roku in a research report on Friday, March 28th. They set an “outperform” rating and a $93.00 price target for the company. Loop Capital reduced their price target on Roku from $90.00 to $80.00 and set a “hold” rating for the company in a research report on Friday, May 2nd. Bank of America started coverage on Roku in a research report on Thursday, March 27th. They set a “buy” rating and a $100.00 price target for the company. Redburn Atlantic upgraded Roku from a “neutral” rating to a “buy” rating and set a $100.00 price target for the company in a research report on Monday, April 7th. Finally, Piper Sandler started coverage on Roku in a research report on Thursday, April 17th. They set a “neutral” rating and a $65.00 price target for the company. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.93.

Insider Transactions at Roku

In other news, CAO Matthew C. Banks sold 1,906 shares of the business’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $80.36, for a total transaction of $153,166.16. Following the sale, the chief accounting officer now directly owns 7,256 shares of the company’s stock, valued at $583,092.16. The trade was a 20.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 value of $75,000.00. Following the sale, the chief financial officer now directly owns 68,843 shares in the company, valued at $5,163,225. This trade represents a 1.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,100 shares of company stock valued at $1,164,215 over the last three months. Company insiders own 13.98% of the company’s stock.

Roku Stock Down 1.1%

Shares of Roku stock opened at $69.01 on Tuesday. The stock’s fifty day moving average is $66.00 and its 200-day moving average is $74.48. The firm has a market capitalization of $10.07 billion, a PE ratio of -77.54 and a beta of 2.06. Roku, Inc. has a 12-month low of $48.33 and a 12-month high of $104.96.

Roku (NASDAQ:ROKU) last announced its earnings results on Thursday, May 1st. The company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.08. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. Roku had a negative return on equity of 5.34% and a negative net margin of 3.15%. Roku’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.35) earnings per share. Analysts expect that Roku, Inc. will post -0.3 EPS for the current year.

Roku Company 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.