DnB Asset Management AS Has $1.65 Million Stake in Roku, Inc. (NASDAQ:ROKU)

DnB Asset Management AS grew its holdings in shares of Roku, Inc. (NASDAQ:ROKU) by 2.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,204 shares of the company’s stock after purchasing an additional 495 shares during the period. DnB Asset Management AS’s holdings in Roku were worth $1,651,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Entropy Technologies LP grew its position in Roku by 264.4% during the fourth quarter. Entropy Technologies LP now owns 25,525 shares of the company’s stock worth $1,898,000 after buying an additional 18,520 shares in the last quarter. National Bank of Canada FI grew its holdings in shares of Roku by 11,626.3% during the 3rd quarter. National Bank of Canada FI now owns 150,800 shares of the company’s stock worth $11,259,000 after purchasing an additional 149,514 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Roku by 3.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 990,867 shares of the company’s stock valued at $73,661,000 after purchasing an additional 34,898 shares in the last quarter. Achmea Investment Management B.V. lifted its position in Roku by 146.4% during the fourth quarter. Achmea Investment Management B.V. now owns 10,168 shares of the company’s stock worth $756,000 after purchasing an additional 6,042 shares during the period. Finally, Oak Thistle LLC acquired a new stake in Roku during the fourth quarter worth about $823,000. 86.30% of the stock is owned by institutional investors.

Roku Price Performance

Shares of Roku stock opened at $70.60 on Wednesday. The business has a 50-day simple moving average of $80.80 and a 200 day simple moving average of $77.67. The firm has a market capitalization of $10.30 billion, a price-to-earnings ratio of -79.33 and a beta of 2.12. Roku, Inc. has a one year low of $48.33 and a one year high of $104.96.

Roku (NASDAQ:ROKU) last issued its earnings results on Thursday, February 13th. The company reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.15 billion. On average, sell-side analysts expect that Roku, Inc. will post -0.3 EPS for the current year.

Insider Buying and Selling at Roku

In related news, insider Charles Collier sold 7,181 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The shares were 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 of the company’s stock, valued at approximately $577,485. This trade represents a 49.32 % decrease in their position. 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 dated 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 transaction, the chief executive officer now owns 26,538 shares of the company’s stock, valued at $2,116,936.26. This trade represents a 48.51 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 97,908 shares of company stock valued at $8,633,436. Corporate insiders own 13.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ROKU. Wells Fargo & Company raised shares of Roku from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $74.00 to $129.00 in a report on Friday, February 14th. UBS Group upgraded Roku from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 27th. Compass Point initiated coverage on Roku in a research note on Sunday, March 23rd. They issued a “buy” rating on the stock. Wedbush restated an “outperform” rating and set a $100.00 price objective on shares of Roku in a research report on Monday, February 10th. Finally, Citigroup upgraded Roku from a “neutral” rating to an “outperform” rating in a research report on Sunday, March 23rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Roku has a consensus rating of “Moderate Buy” and a consensus target price of $96.55.

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.