Polar Asset Management Partners Inc. Invests $2.96 Million in Roku, Inc. (NASDAQ:ROKU)

Polar Asset Management Partners Inc. bought a new position in shares of Roku, Inc. (NASDAQ:ROKU) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 39,600 shares of the company’s stock, valued at approximately $2,957,000.

A number of other large investors have also added to or reduced their stakes in ROKU. EverSource Wealth Advisors LLC boosted its holdings in shares of Roku by 123.4% during the second quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company’s stock worth $40,000 after acquiring an additional 375 shares during the period. Future Financial Wealth Managment LLC acquired a new stake in Roku during the 3rd quarter worth approximately $43,000. GS Investments Inc. boosted its stake in Roku by 33.4% in the 3rd quarter. GS Investments Inc. now owns 587 shares of the company’s stock valued at $44,000 after purchasing an additional 147 shares during the period. Cedar Wealth Management LLC acquired a new position in Roku in the 2nd quarter valued at $48,000. Finally, AM Squared Ltd acquired a new position in Roku in the 2nd quarter valued at $66,000. Institutional investors own 86.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ROKU. Jefferies Financial Group reduced their target price on shares of Roku from $60.00 to $55.00 and set an “underperform” rating for the company in a research report on Friday, November 1st. Moffett Nathanson raised shares of Roku from a “sell” rating to a “neutral” rating and set a $80.00 price objective for the company in a report on Tuesday, October 1st. Wolfe Research raised shares of Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 target price on the stock in a report on Thursday, September 12th. Bank of America raised their target price on shares of Roku from $75.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Finally, Baird R W upgraded Roku from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 18th. Two equities research analysts have rated the stock with a sell rating, nine have issued 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 has a consensus rating of “Moderate Buy” and a consensus price target of $82.62.

Roku Trading Down 1.1 %

Roku stock opened at $82.03 on Friday. The stock has a 50-day moving average price of $74.03 and a two-hundred day moving average price of $65.83. Roku, Inc. has a 12 month low of $48.33 and a 12 month high of $108.84. The company has a market capitalization of $11.91 billion, a PE ratio of -68.36 and a beta of 2.06.

Roku (NASDAQ:ROKU) last released its quarterly earnings data 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. Roku had a negative return on equity of 7.22% and a negative net margin of 4.42%. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the prior year, the firm posted ($2.33) earnings per share. The firm’s revenue was up 16.5% compared to the same quarter last year. As a group, analysts predict that Roku, Inc. will post -1.1 earnings per share for the current fiscal year.

Insider Transactions at Roku

In other Roku news, CAO Matthew C. Banks sold 8,693 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were 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 owns 7,264 shares of the company’s stock, valued at approximately $518,940.16. This represents a 54.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the completion of the transaction, the chief executive officer now owns 5,020 shares in the company, valued at $376,500. This trade represents a 83.28 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 88,550 shares of company stock worth $6,621,873. Company insiders own 13.98% of the company’s stock.

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.