PDT Partners LLC Grows Stake in Roku, Inc. (NASDAQ:ROKU)

PDT Partners LLC increased its holdings in shares of Roku, Inc. (NASDAQ:ROKU) by 152.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 79,008 shares of the company’s stock after purchasing an additional 47,700 shares during the quarter. Roku makes up approximately 0.5% of PDT Partners LLC’s portfolio, making the stock its 14th biggest position. PDT Partners LLC’s holdings in Roku were worth $5,899,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. boosted its stake in Roku by 37.3% in the third quarter. Rockefeller Capital Management L.P. now owns 505,429 shares of the company’s stock valued at $37,735,000 after acquiring an additional 137,259 shares in the last quarter. Summit Partners Public Asset Management LLC purchased a new stake in shares of Roku in the 3rd quarter valued at about $896,000. True Vision MN LLC boosted its position in shares of Roku by 3.1% in the 3rd quarter. True Vision MN LLC now owns 5,018 shares of the company’s stock valued at $375,000 after purchasing an additional 152 shares during the period. Blueshift Asset Management LLC purchased a new position in Roku during the 3rd quarter worth approximately $2,157,000. Finally, Brooklyn Investment Group acquired a new position in Roku during the third quarter worth approximately $95,000. 86.30% of the stock is owned by institutional investors and hedge funds.

Roku Price Performance

ROKU opened at $69.03 on Friday. The stock’s 50 day simple moving average is $73.63 and its 200 day simple moving average is $65.34. The stock has a market cap of $10.02 billion, a P/E ratio of -57.52 and a beta of 2.07. Roku, Inc. has a 1-year low of $48.33 and a 1-year high of $108.84.

Roku (NASDAQ:ROKU) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.35) by $0.29. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. Roku had a negative return on equity of 7.22% and a negative net margin of 4.42%. The business’s revenue was up 16.5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($2.33) EPS. Research analysts expect that Roku, Inc. will post -1.1 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on ROKU shares. Needham & Company LLC restated a “buy” rating and set a $100.00 target price on shares of Roku in a research report on Thursday, October 31st. Piper Sandler raised their price objective on shares of Roku from $60.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Wells Fargo & Company upped their target price on shares of Roku from $72.00 to $74.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. raised their price target on Roku from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Finally, Wedbush upped their price objective on Roku from $75.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Roku has an average rating of “Moderate Buy” and a consensus price target of $82.62.

Insider Activity

In related news, insider Gilbert Fuchsberg sold 1,693 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total transaction of $109,012.27. Following the sale, the insider now owns 38,602 shares of the company’s stock, valued at $2,485,582.78. This trade represents a 4.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Matthew C. Banks sold 8,693 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $71.44, for a total transaction of $621,027.92. Following the completion of the transaction, the chief accounting officer now directly owns 7,264 shares of the company’s stock, valued at $518,940.16. The trade was a 54.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 90,240 shares of company stock worth $6,729,582 over the last ninety days. 13.98% of the stock is currently owned by insiders.

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.