Raymond James Financial Inc. Makes New Investment in Roku, Inc. (NASDAQ:ROKU)

Raymond James Financial Inc. purchased a new stake in shares of Roku, Inc. (NASDAQ:ROKU) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 39,687 shares of the company’s stock, valued at approximately $2,950,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Farther Finance Advisors LLC raised its position in Roku by 23.9% in the fourth quarter. Farther Finance Advisors LLC now owns 627 shares of the company’s stock worth $47,000 after acquiring an additional 121 shares in the last quarter. Cerity Partners LLC raised its holdings in shares of Roku by 0.5% in the 4th quarter. Cerity Partners LLC now owns 26,679 shares of the company’s stock worth $1,984,000 after purchasing an additional 145 shares in the last quarter. Richard W. Paul & Associates LLC boosted its holdings in Roku by 1.1% during the fourth quarter. Richard W. Paul & Associates LLC now owns 15,997 shares of the company’s stock worth $1,189,000 after buying an additional 177 shares in the last quarter. CIBC Asset Management Inc grew its position in Roku by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 3,859 shares of the company’s stock worth $287,000 after buying an additional 191 shares during the last quarter. Finally, PFG Investments LLC increased its holdings in shares of Roku by 4.9% in the fourth quarter. PFG Investments LLC now owns 4,361 shares of the company’s stock valued at $324,000 after buying an additional 204 shares in the last quarter. Institutional investors own 86.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on ROKU shares. Wedbush decreased their target price on Roku from $125.00 to $100.00 and set an “outperform” rating on the stock in a report on Monday. Benchmark reissued a “buy” rating and issued a $130.00 price target on shares of Roku in a research note on Monday, April 21st. JMP Securities reaffirmed a “market outperform” rating and set a $95.00 price objective on shares of Roku in a research note on Thursday, April 24th. Wells Fargo & Company dropped their target price on shares of Roku from $129.00 to $93.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, Citigroup restated an “outperform” rating on shares of Roku in a research report on Thursday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $89.93.

Insider Buying and Selling at Roku

In other Roku news, CFO Dan Jedda sold 1,000 shares of the firm’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 owns 68,843 shares of the company’s stock, valued at $5,163,225. This trade represents a 1.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Anthony J. Wood sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $87.93, for a total value of $2,198,250.00. Following the transaction, the chief executive officer now owns 26,538 shares of the company’s stock, valued at approximately $2,333,486.34. This trade represents a 48.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 71,905 shares of company stock worth $6,560,876 over the last 90 days. Insiders own 13.98% of the company’s stock.

Roku Trading Up 3.7 %

Shares of NASDAQ:ROKU opened at $68.14 on Tuesday. The stock has a market capitalization of $9.94 billion, a PE ratio of -76.56 and a beta of 2.17. Roku, Inc. has a 1 year low of $48.33 and a 1 year high of $104.96. The firm has a fifty day moving average price of $70.51 and a 200 day moving average price of $75.45.

Roku (NASDAQ:ROKU) last released its quarterly earnings results on Thursday, February 13th. The company reported ($0.24) earnings per share (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 company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.15 billion. On average, sell-side analysts forecast that Roku, Inc. will post -0.3 earnings per share for the current fiscal year.

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.