Point72 Asia Singapore Pte. Ltd. Acquires Shares of 5,381 Roku, Inc. (NASDAQ:ROKU)

Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Roku, Inc. (NASDAQ:ROKU) in the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 5,381 shares of the company’s stock, valued at approximately $402,000.

A number of other institutional investors have also made changes to their positions in the business. Kestra Investment Management LLC bought a new position in Roku during the third quarter worth $329,000. Point72 Hong Kong Ltd lifted its stake in shares of Roku by 1,864.0% during the 3rd quarter. Point72 Hong Kong Ltd now owns 57,958 shares of the company’s stock worth $4,327,000 after buying an additional 55,007 shares during the last quarter. Firsthand Capital Management Inc. boosted its holdings in shares of Roku by 21,328.6% during the 3rd quarter. Firsthand Capital Management Inc. now owns 75,000 shares of the company’s stock worth $5,600,000 after buying an additional 74,650 shares during the period. JAT Capital Mgmt LP grew its stake in Roku by 470.2% in the 3rd quarter. JAT Capital Mgmt LP now owns 540,577 shares of the company’s stock valued at $40,359,000 after buying an additional 445,777 shares during the last quarter. Finally, PDT Partners LLC lifted its position in Roku by 152.4% during the third quarter. PDT Partners LLC now owns 79,008 shares of the company’s stock worth $5,899,000 after acquiring an additional 47,700 shares during the last quarter. 86.30% of the stock is owned by institutional investors and hedge funds.

Roku Stock Performance

NASDAQ:ROKU opened at $77.05 on Tuesday. The stock’s 50-day moving average is $73.70 and its 200-day moving average is $65.50. Roku, Inc. has a 1-year low of $48.33 and a 1-year high of $108.84.

Roku (NASDAQ:ROKU) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.35) by $0.29. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Roku had a negative net margin of 4.42% and a negative return on equity of 7.22%. The company’s revenue was up 16.5% on a year-over-year basis. During the same period in the prior year, the company posted ($2.33) EPS. On average, research analysts forecast that Roku, Inc. will post -1.1 earnings per share for the current year.

Analyst Ratings Changes

ROKU has been the topic of a number of recent research reports. Morgan Stanley increased their target price on Roku from $60.00 to $65.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 29th. Citigroup lifted their target price on Roku from $60.00 to $77.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price target on shares of Roku in a research report on Thursday, October 31st. Loop Capital lifted their price objective on shares of Roku from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. Finally, Jefferies Financial Group decreased their target price on shares of Roku from $60.00 to $55.00 and set an “underperform” rating on the stock in a research report on Friday, November 1st. Two analysts have rated the stock with a sell rating, nine have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.62.

Insider Buying and Selling

In related news, insider Gilbert Fuchsberg sold 1,693 shares of Roku stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total value of $109,012.27. Following the transaction, the insider now directly owns 38,602 shares of the company’s stock, valued at $2,485,582.78. The trade was a 4.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Charles Collier sold 15,454 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $75.00, for a total value of $1,159,050.00. Following the completion of the sale, the insider now owns 200 shares in the company, valued at $15,000. The trade was a 98.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 90,240 shares of company stock valued at $6,729,582 in the last three months. Insiders own 13.98% of the company’s stock.

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.