Roku, Inc. (NASDAQ:ROKU) Shares Acquired by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lifted its position in shares of Roku, Inc. (NASDAQ:ROKU) by 12.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 3,008 shares of the company’s stock after purchasing an additional 338 shares during the period. PNC Financial Services Group Inc.’s holdings in Roku were worth $224,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in ROKU. Holocene Advisors LP purchased a new stake in Roku during the 3rd quarter worth $129,015,000. Westfield Capital Management Co. LP boosted its position in Roku by 126.1% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,535,576 shares of the company’s stock worth $114,646,000 after purchasing an additional 856,401 shares during the period. Point72 Asset Management L.P. boosted its position in Roku by 352.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 651,658 shares of the company’s stock worth $48,653,000 after purchasing an additional 507,643 shares during the period. JAT Capital Mgmt LP boosted its position in Roku by 470.2% during the 3rd quarter. JAT Capital Mgmt LP now owns 540,577 shares of the company’s stock worth $40,359,000 after purchasing an additional 445,777 shares during the period. Finally, FMR LLC boosted its position in Roku by 1.7% during the 3rd quarter. FMR LLC now owns 14,570,372 shares of the company’s stock worth $1,087,824,000 after purchasing an additional 244,793 shares during the period. 86.30% of the stock is owned by hedge funds and other institutional investors.

Roku Trading Up 6.1 %

Shares of NASDAQ:ROKU opened at $78.29 on Friday. The firm’s 50 day moving average is $80.89 and its two-hundred day moving average is $77.22. Roku, Inc. has a 52 week low of $48.33 and a 52 week high of $104.96. The firm has a market capitalization of $11.43 billion, a P/E ratio of -87.97 and a beta of 2.12.

Roku (NASDAQ:ROKU) last announced its earnings results 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 return on equity of 5.34% and a negative net margin of 3.15%. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Analysts predict that Roku, Inc. will post -0.3 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently weighed in on ROKU shares. UBS Group upped their price target 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. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price objective on shares of Roku in a research report on Tuesday, January 7th. Loop Capital upped their price objective on shares of Roku from $70.00 to $80.00 and gave the company a “hold” rating in a research report on Monday, December 9th. Benchmark upped their price objective on shares of Roku from $100.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Finally, Jefferies Financial Group raised shares of Roku from an “underperform” rating to a “hold” rating and upped their price objective for the company from $55.00 to $100.00 in a research report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $96.71.

Insider Buying and Selling

In related news, CEO Anthony J. Wood sold 25,000 shares of the business’s 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 of the company’s stock, valued at $2,116,936.26. The trade was a 48.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Dan Jedda sold 1,000 shares of the business’s 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 sale, the chief financial officer now directly owns 68,843 shares in the company, valued at approximately $5,163,225. The trade was a 1.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 97,908 shares of company stock valued at $8,633,436 over the last quarter. Corporate 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.