Graham Capital Management L.P. Boosts Holdings in Roku, Inc. (NASDAQ:ROKU)

Graham Capital Management L.P. increased its holdings in shares of Roku, Inc. (NASDAQ:ROKU) by 374.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 46,804 shares of the company’s stock after buying an additional 36,929 shares during the period. Graham Capital Management L.P.’s holdings in Roku were worth $3,479,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. grew its position in shares of Roku by 369.9% during the fourth quarter. Geneos Wealth Management Inc. now owns 343 shares of the company’s stock worth $25,000 after buying an additional 270 shares in the last quarter. Vision Financial Markets LLC acquired a new position in Roku during the 4th quarter worth approximately $30,000. Game Plan Financial Advisors LLC purchased a new stake in shares of Roku in the 4th quarter valued at approximately $37,000. Harvest Fund Management Co. Ltd raised its holdings in shares of Roku by 4,091.7% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 503 shares of the company’s stock valued at $37,000 after purchasing an additional 491 shares in the last quarter. Finally, Allianz SE purchased a new stake in shares of Roku during the 4th quarter worth $39,000. 86.30% of the stock is currently owned by institutional investors and hedge funds.

Roku Trading Down 0.7 %

Shares of ROKU stock opened at $60.93 on Friday. The stock has a 50 day simple moving average of $66.49 and a 200-day simple moving average of $74.59. The company has a market cap of $8.89 billion, a price-to-earnings ratio of -68.46 and a beta of 2.06. Roku, Inc. has a 12-month low of $48.33 and a 12-month high of $104.96.

Roku (NASDAQ:ROKU) last released its quarterly earnings data on Thursday, May 1st. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.08. Roku had a negative return on equity of 5.34% and a negative net margin of 3.15%. The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the prior year, the business posted ($0.35) earnings per share. Roku’s revenue was up 15.8% compared to the same quarter last year. On average, equities analysts forecast that Roku, Inc. will post -0.3 earnings per share for the current fiscal year.

Insider Buying and Selling at Roku

In related news, CEO Anthony J. Wood sold 4,600 shares of the company’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 $345,000.00. Following the sale, the chief executive officer now owns 6,243 shares in the company, valued at $468,225. This represents a 42.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Dan Jedda sold 1,000 shares of Roku stock in a transaction 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 transaction, the chief financial officer now directly owns 68,843 shares of the company’s stock, valued at approximately $5,163,225. This represents a 1.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 72,111 shares of company stock valued at $6,575,362. Corporate insiders own 13.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Moffett Nathanson upgraded Roku from a “sell” rating to a “neutral” rating and set a $70.00 price target on the stock in a research note on Tuesday, March 4th. Evercore ISI cut their target price on Roku from $105.00 to $80.00 and set an “in-line” rating on the stock in a research report on Friday, May 2nd. Guggenheim reaffirmed a “buy” rating and issued a $100.00 price target on shares of Roku in a report on Friday, May 2nd. Compass Point initiated coverage on shares of Roku in a report on Sunday, March 23rd. They set a “buy” rating on the stock. Finally, JPMorgan Chase & Co. lowered their target price on shares of Roku from $115.00 to $75.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $87.93.

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.