Swiss National Bank Reduces Position in Roku, Inc. (NASDAQ:ROKU)

Swiss National Bank cut its holdings in shares of Roku, Inc. (NASDAQ:ROKU) by 4.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 359,700 shares of the company’s stock after selling 17,100 shares during the period. Swiss National Bank’s holdings in Roku were worth $26,740,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Avantax Advisory Services Inc. lifted its position in Roku by 3.2% during the fourth quarter. Avantax Advisory Services Inc. now owns 11,328 shares of the company’s stock valued at $842,000 after purchasing an additional 352 shares during the period. Jupiter Asset Management Ltd. lifted its position in Roku by 164.5% during the fourth quarter. Jupiter Asset Management Ltd. now owns 506,351 shares of the company’s stock valued at $37,642,000 after purchasing an additional 314,931 shares during the period. Farther Finance Advisors LLC lifted its position in Roku by 23.9% during the fourth quarter. Farther Finance Advisors LLC now owns 627 shares of the company’s stock valued at $47,000 after purchasing an additional 121 shares during the period. Clare Market Investments LLC acquired a new position in Roku during the fourth quarter valued at $324,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Roku by 14.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,052 shares of the company’s stock valued at $1,937,000 after purchasing an additional 3,367 shares during the period. 86.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ROKU shares. Pivotal Research upgraded shares of Roku from a “hold” rating to a “buy” rating and boosted their target price for the company from $65.00 to $125.00 in a research report on Friday, February 14th. Wells Fargo & Company upgraded shares of Roku from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $74.00 to $129.00 in a research report on Friday, February 14th. Loop Capital upped their price objective on shares of Roku from $70.00 to $80.00 and gave the stock a “hold” rating in a research report on Monday, December 9th. UBS Group upped their price objective on shares of Roku from $73.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Finally, JMP Securities upped their price objective on shares of Roku from $95.00 to $115.00 and gave the stock a “market outperform” rating in a research report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $96.71.

Insider Transactions at Roku

In other news, CAO Matthew C. Banks sold 1,906 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $80.36, for a total value of $153,166.16. Following the transaction, the chief accounting officer now directly owns 7,256 shares in the company, valued at approximately $583,092.16. This represents a 20.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $79.77, for a total transaction of $1,994,250.00. Following the sale, the chief executive officer now owns 26,538 shares in the company, valued at approximately $2,116,936.26. This trade represents a 48.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 92,308 shares of company stock worth $8,213,436. 13.98% of the stock is currently owned by insiders.

Roku Trading Up 2.8 %

Shares of NASDAQ ROKU opened at $69.65 on Tuesday. The company has a 50-day moving average of $81.52 and a 200 day moving average of $77.13. Roku, Inc. has a 12-month low of $48.33 and a 12-month high of $104.96. The stock has a market cap of $10.16 billion, a PE ratio of -78.26 and a beta of 2.12.

Roku (NASDAQ:ROKU) last issued its quarterly earnings data on Thursday, February 13th. The company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.44) by $0.20. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.15 billion. On average, sell-side analysts forecast that Roku, Inc. will post -0.3 EPS for the current fiscal year.

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.