Accuvest Global Advisors acquired a new stake in shares of Roku Inc (NASDAQ:ROKU) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 15,021 shares of the company’s stock, valued at approximately $1,097,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cynosure Advisors LLC bought a new position in shares of Roku during the 2nd quarter valued at about $217,000. EastBay Asset Management LLC bought a new position in shares of Roku during the 2nd quarter valued at about $25,971,000. Point72 Asset Management L.P. boosted its holdings in shares of Roku by 35.8% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,822,057 shares of the company’s stock valued at $77,656,000 after purchasing an additional 480,762 shares during the last quarter. Blackhawk Capital Partners LLC. bought a new position in shares of Roku during the 2nd quarter valued at about $1,236,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Roku during the 2nd quarter valued at about $542,000. 33.21% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ:ROKU opened at $55.60 on Thursday. Roku Inc has a 12 month low of $18.56 and a 12 month high of $77.57. The stock has a market capitalization of $5.54 billion and a P/E ratio of -24.82.
Several research analysts have commented on the stock. Cannonball Research increased their price objective on shares of Roku from $68.00 to $97.00 and gave the company a “buy” rating in a report on Monday, October 1st. Our analysis of the composition of advertising revenue growth gives us incremental comfort with our revenue forecast for FY18-20. It also supports our Buy thesis based on the belief that ROKU works only if the advertising revenue story works. We think that inventory sell through which has been a relatively small revenue driver so far can become more significant in the mid-term. BidaskClub raised shares of Roku from a “hold” rating to a “buy” rating in a report on Saturday, July 7th. Zacks Investment Research downgraded shares of Roku from a “buy” rating to a “hold” rating in a report on Wednesday, July 11th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $48.00 price target on shares of Roku in a report on Thursday, August 9th. Finally, Loop Capital increased their price target on shares of Roku to $43.00 and gave the company a “hold” rating in a report on Monday, August 6th. Seven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $63.82.
In related news, VP Chas Smith sold 99,129 shares of the stock in a transaction dated Thursday, October 25th. The shares were sold at an average price of $52.08, for a total value of $5,162,638.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Alan S. Henricks sold 26,000 shares of the stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $58.20, for a total transaction of $1,513,200.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,327,883 shares of company stock valued at $84,053,444. 0.55% of the stock is owned by insiders.
Roku, Inc operates a TV streaming platform. The company operates in two segments, Player and Platform. Its platform allows users to search, discover, and access approximately 500,000 movies and TV episodes, as well as live sports, music, news, and others. As of December 31, 2017, the company had 19.3 million active accounts.
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