Kennondale Capital Management LLC Acquires New Stake in Roku, Inc. (NASDAQ:ROKU)

Kennondale Capital Management LLC acquired a new stake in shares of Roku, Inc. (NASDAQ:ROKU) during the fourth quarter, HoldingsChannel reports. The institutional investor acquired 24,557 shares of the company’s stock, valued at approximately $1,826,000. Roku comprises about 1.5% of Kennondale Capital Management LLC’s investment portfolio, making the stock its 14th biggest holding.

A number of other large investors have also made changes to their positions in the stock. Farther Finance Advisors LLC boosted its stake in shares of Roku by 23.9% during the fourth quarter. Farther Finance Advisors LLC now owns 627 shares of the company’s stock valued at $47,000 after acquiring an additional 121 shares during the last quarter. GS Investments Inc. boosted its stake in Roku by 33.4% in the 3rd quarter. GS Investments Inc. now owns 587 shares of the company’s stock worth $44,000 after buying an additional 147 shares during the last quarter. True Vision MN LLC boosted its stake in Roku by 3.1% in the 3rd quarter. True Vision MN LLC now owns 5,018 shares of the company’s stock worth $375,000 after buying an additional 152 shares during the last quarter. Richard W. Paul & Associates LLC boosted its stake in Roku by 1.1% in the 4th 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 during the last quarter. Finally, CIBC Asset Management Inc boosted its stake in Roku by 5.2% in the 4th 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. Institutional investors and hedge funds own 86.30% of the company’s stock.

Insider Activity

In other news, insider Charles Collier sold 7,181 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $78.25, for a total value of $561,913.25. Following the completion of the sale, the insider now directly owns 7,380 shares in the company, valued at approximately $577,485. The trade was a 49.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $79.77, for a total value of $1,994,250.00. Following the completion of the sale, the chief executive officer now owns 26,538 shares of the company’s stock, valued at $2,116,936.26. This trade represents a 48.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 92,308 shares of company stock worth $8,213,436. 13.98% of the stock is currently owned by insiders.

Roku Stock Up 2.8 %

ROKU stock opened at $69.65 on Tuesday. Roku, Inc. has a 52-week low of $48.33 and a 52-week high of $104.96. The stock’s 50 day moving average is $81.52 and its two-hundred day moving average is $77.13. The company has a market capitalization of $10.16 billion, a PE ratio of -78.26 and a beta of 2.12.

Roku (NASDAQ:ROKU) last posted its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $1.15 billion. As a group, sell-side analysts anticipate that Roku, Inc. will post -0.3 EPS for the current year.

Analyst Upgrades and Downgrades

ROKU has been the topic of a number of research analyst reports. Bank of America raised their price target on Roku from $90.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Citigroup raised their price target on Roku from $70.00 to $103.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. Robert W. Baird raised Roku from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $70.00 to $90.00 in a research note on Monday, November 18th. Wells Fargo & Company raised Roku from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $74.00 to $129.00 in a research note on Friday, February 14th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and issued a $86.00 price objective on shares of Roku in a research note on Thursday, February 13th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Roku currently has an average rating of “Moderate Buy” and a consensus target price of $96.71.

Roku 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.