Holocene Advisors LP Buys Shares of 1,728,028 Roku, Inc. (NASDAQ:ROKU)

Holocene Advisors LP purchased a new position in shares of Roku, Inc. (NASDAQ:ROKU) in the third quarter, HoldingsChannel.com reports. The fund purchased 1,728,028 shares of the company’s stock, valued at approximately $129,015,000.

Several other institutional investors have also added to or reduced their stakes in ROKU. Benjamin Edwards Inc. increased its position in Roku by 13,111.3% during the 3rd quarter. Benjamin Edwards Inc. now owns 59,451 shares of the company’s stock worth $4,438,000 after purchasing an additional 59,001 shares in the last quarter. Paloma Partners Management Co bought a new stake in Roku during the 3rd quarter worth $394,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Roku in the 3rd quarter worth about $402,000. Kestra Investment Management LLC bought a new position in Roku in the third quarter valued at about $329,000. Finally, Point72 Hong Kong Ltd grew its holdings in shares of Roku by 1,864.0% during the third quarter. Point72 Hong Kong Ltd now owns 57,958 shares of the company’s stock worth $4,327,000 after purchasing an additional 55,007 shares during the last quarter. 86.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on ROKU shares. Moffett Nathanson upgraded shares of Roku from a “sell” rating to a “neutral” rating and set a $80.00 target price on the stock in a research report on Tuesday, October 1st. Wolfe Research raised Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 target price for the company in a research report on Thursday, September 12th. Robert W. Baird upgraded Roku from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $70.00 to $90.00 in a research report on Monday, November 18th. Needham & Company LLC reissued a “buy” rating and set a $100.00 target price on shares of Roku in a research report on Thursday, October 31st. Finally, UBS Group assumed coverage on shares of Roku in a research report on Friday, November 22nd. They set a “neutral” rating and a $73.00 price target on the stock. 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, Roku has a consensus rating of “Moderate Buy” and a consensus target price of $82.62.

Insider Buying and Selling

In other Roku news, CFO Dan Jedda sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $75.33, for a total value of $75,330.00. Following the completion of the transaction, the chief financial officer now owns 54,267 shares in the company, valued at $4,087,933.11. This trade represents a 1.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Matthew C. Banks sold 8,693 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $71.44, for a total transaction of $621,027.92. Following the completion of the sale, the chief accounting officer now directly owns 7,264 shares in the company, valued at approximately $518,940.16. The trade was a 54.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 90,240 shares of company stock valued at $6,729,582. 13.98% of the stock is owned by insiders.

Roku Stock Up 1.9 %

ROKU opened at $69.03 on Monday. Roku, Inc. has a twelve month low of $48.33 and a twelve month high of $108.84. The company’s 50-day moving average price is $73.63 and its two-hundred day moving average price is $65.38. The stock has a market cap of $10.02 billion, a price-to-earnings ratio of -57.52 and a beta of 2.07.

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

About Roku

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.