Fifth Third Bancorp Raises Stock Holdings in Roku, Inc. (NASDAQ:ROKU)

Fifth Third Bancorp boosted its stake in shares of Roku, Inc. (NASDAQ:ROKU) by 24.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,119 shares of the company’s stock after buying an additional 223 shares during the quarter. Fifth Third Bancorp’s holdings in Roku were worth $83,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Holocene Advisors LP purchased a new position in shares of Roku during the 3rd quarter worth approximately $129,015,000. Westfield Capital Management Co. LP lifted its stake in Roku by 126.1% during the third quarter. Westfield Capital Management Co. LP now owns 1,535,576 shares of the company’s stock worth $114,646,000 after purchasing an additional 856,401 shares in the last quarter. Point72 Asset Management L.P. boosted its position in shares of Roku by 352.5% during the third quarter. Point72 Asset Management L.P. now owns 651,658 shares of the company’s stock worth $48,653,000 after buying an additional 507,643 shares during the period. JAT Capital Mgmt LP grew its stake in shares of Roku by 470.2% in the third quarter. JAT Capital Mgmt LP now owns 540,577 shares of the company’s stock valued at $40,359,000 after buying an additional 445,777 shares in the last quarter. Finally, FMR LLC raised its holdings in shares of Roku by 1.7% in the 3rd quarter. FMR LLC now owns 14,570,372 shares of the company’s stock valued at $1,087,824,000 after buying an additional 244,793 shares during the period. 86.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Roku news, CFO Dan Jedda sold 1,000 shares of the firm’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $77.18, for a total transaction of $77,180.00. Following the transaction, the chief financial officer now directly owns 63,555 shares of the company’s stock, valued at approximately $4,905,174.90. This trade represents a 1.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $79.77, for a total transaction of $1,994,250.00. Following the completion of the sale, the chief executive officer now directly owns 26,538 shares of the company’s stock, valued at $2,116,936.26. The trade was a 48.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 72,885 shares of company stock worth $5,712,912 in the last quarter. 13.98% of the stock is owned by insiders.

Roku Price Performance

Shares of NASDAQ:ROKU opened at $82.76 on Friday. Roku, Inc. has a 12 month low of $48.33 and a 12 month high of $99.80. The firm has a market capitalization of $12.02 billion, a P/E ratio of -68.97 and a beta of 2.05. The company’s fifty day moving average price is $78.48 and its 200 day moving average price is $72.07.

Roku (NASDAQ:ROKU) last posted its earnings results on Wednesday, October 30th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.29. Roku had a negative return on equity of 7.22% and a negative net margin of 4.42%. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the previous year, the firm earned ($2.33) earnings per share. The business’s revenue was up 16.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Roku, Inc. will post -1.09 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ROKU. Needham & Company LLC restated a “buy” rating and set a $100.00 target price on shares of Roku in a report on Tuesday, January 7th. Piper Sandler lifted their price objective on shares of Roku from $60.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Wedbush reaffirmed an “outperform” rating and set a $100.00 target price on shares of Roku in a research note on Wednesday, January 8th. Moffett Nathanson cut shares of Roku from a “neutral” rating to a “sell” rating and set a $55.00 price target for the company. in a research report on Friday, January 10th. Finally, JMP Securities started coverage on Roku in a research report on Tuesday, January 21st. They set a “mkt outperform” rating and a $95.00 price objective on the stock. Three analysts have rated the stock with a sell rating, eight have given a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.18.

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.