Shellback Capital LP Purchases Shares of 60,000 Roku, Inc. (NASDAQ:ROKU)

Shellback Capital LP bought a new position in Roku, Inc. (NASDAQ:ROKU) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 60,000 shares of the company’s stock, valued at approximately $4,460,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Oak Thistle LLC acquired a new position in Roku in the 4th quarter worth approximately $823,000. Avanza Fonder AB purchased a new stake in Roku in the 4th quarter worth about $3,499,000. O Keefe Stevens Advisory Inc. boosted its position in Roku by 39.5% during the 4th quarter. O Keefe Stevens Advisory Inc. now owns 3,893 shares of the company’s stock worth $289,000 after acquiring an additional 1,102 shares during the period. Stonekeep Investments LLC purchased a new position in Roku during the 4th quarter valued at about $261,000. Finally, Ameritas Advisory Services LLC acquired a new position in shares of Roku in the 4th quarter valued at about $311,000. 86.30% of the stock is owned by institutional investors and hedge funds.

Roku Price Performance

ROKU stock opened at $70.07 on Friday. Roku, Inc. has a 52-week low of $48.33 and a 52-week high of $104.96. The stock has a market capitalization of $10.23 billion, a price-to-earnings ratio of -78.73 and a beta of 2.06. The company has a 50-day moving average of $65.88 and a two-hundred day moving average of $74.47.

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

Insider Buying and Selling

In other news, CFO Dan Jedda sold 1,000 shares of the 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 completion of the transaction, the chief financial officer now directly owns 68,843 shares of the company’s stock, valued at approximately $5,163,225. This represents a 1.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Anthony J. Wood sold 4,600 shares of the business’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $75.00, for a total value of $345,000.00. Following the completion of the sale, the chief executive officer now directly owns 6,243 shares in the company, valued at approximately $468,225. This represents a 42.42% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,111 shares of company stock valued at $1,365,112 over the last ninety days. 13.98% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ROKU. Needham & Company LLC reaffirmed a “buy” rating and set a $88.50 price objective on shares of Roku in a research report on Monday. Jefferies Financial Group raised shares of Roku from an “underperform” rating to a “hold” rating and upped their price target for the stock from $55.00 to $100.00 in a research note on Thursday, February 20th. Citigroup reduced their price objective on Roku from $81.00 to $68.00 and set a “neutral” rating for the company in a research report on Tuesday, May 6th. FBN Securities began coverage on Roku in a research note on Friday, March 28th. They issued an “outperform” rating and a $93.00 target price on the stock. Finally, JPMorgan Chase & Co. cut their price target on Roku from $115.00 to $75.00 and set an “overweight” rating for the company in a research note on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Roku presently has an average rating of “Moderate Buy” and a consensus price target of $87.93.

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.