Ardmore Road Asset Management LP Has $21.97 Million Holdings in Roku, Inc. $ROKU

Ardmore Road Asset Management LP decreased its holdings in Roku, Inc. (NASDAQ:ROKU) by 52.4% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 250,000 shares of the company’s stock after selling 275,000 shares during the period. Roku accounts for approximately 1.8% of Ardmore Road Asset Management LP’s investment portfolio, making the stock its 21st biggest holding. Ardmore Road Asset Management LP’s holdings in Roku were worth $21,972,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Brown Advisory Inc. bought a new stake in shares of Roku in the 2nd quarter valued at about $326,000. First Trust Advisors LP raised its position in shares of Roku by 231.0% during the second quarter. First Trust Advisors LP now owns 70,786 shares of the company’s stock worth $6,221,000 after acquiring an additional 49,399 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Roku by 145.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,394 shares of the company’s stock worth $123,000 after acquiring an additional 826 shares during the period. Trek Financial LLC bought a new stake in Roku in the second quarter valued at approximately $7,336,000. Finally, Edgestream Partners L.P. increased its position in Roku by 706.7% during the 2nd quarter. Edgestream Partners L.P. now owns 80,811 shares of the company’s stock valued at $7,102,000 after purchasing an additional 70,794 shares during the period. 86.30% of the stock is owned by institutional investors.

Roku Stock Performance

Shares of Roku stock opened at $100.09 on Friday. The stock has a market capitalization of $14.79 billion, a PE ratio of -500.42 and a beta of 1.98. Roku, Inc. has a 52 week low of $52.43 and a 52 week high of $116.66. The stock has a 50 day moving average price of $98.88 and a two-hundred day moving average price of $91.32.

Roku (NASDAQ:ROKU) last issued its earnings results on Thursday, October 30th. The company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.09. Roku had a negative return on equity of 1.08% and a negative net margin of 0.61%.The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same period in the prior year, the firm earned ($0.06) earnings per share. Roku’s revenue for the quarter was up 14.0% on a year-over-year basis. Research analysts forecast that Roku, Inc. will post -0.3 EPS for the current year.

Analysts Set New Price Targets

ROKU has been the topic of a number of recent analyst reports. Needham & Company LLC restated a “buy” rating and issued a $110.00 price target on shares of Roku in a research report on Wednesday, October 1st. Susquehanna restated a “positive” rating and issued a $130.00 target price on shares of Roku in a report on Friday, October 31st. Pivotal Research upped their price target on shares of Roku from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Monday, November 3rd. JPMorgan Chase & Co. lifted their price objective on Roku from $105.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, October 31st. Finally, Raymond James Financial reissued a “market perform” rating on shares of Roku in a research note on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, six have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Roku currently has an average rating of “Moderate Buy” and an average price target of $113.14.

Insiders Place Their Bets

In other Roku news, insider Mustafa Ozgen sold 50,527 shares of the firm’s stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $100.00, for a total value of $5,052,700.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Anthony J. Wood sold 50,000 shares of the business’s stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $103.86, for a total transaction of $5,193,000.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 491,195 shares of company stock worth $51,517,886. Insiders own 13.98% of the company’s stock.

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.