Fred Alger Management LLC Purchases 1,401,664 Shares of Roku, Inc. $ROKU

Fred Alger Management LLC raised its position in Roku, Inc. (NASDAQ:ROKU) by 7,087.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,421,440 shares of the company’s stock after purchasing an additional 1,401,664 shares during the period. Roku accounts for 0.6% of Fred Alger Management LLC’s investment portfolio, making the stock its 28th biggest position. Fred Alger Management LLC’s holdings in Roku were worth $154,212,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Jefferies Financial Group Inc. bought a new position in Roku in the 4th quarter valued at $1,345,000. Holocene Advisors LP boosted its holdings in Roku by 352.3% in the 3rd quarter. Holocene Advisors LP now owns 1,650,448 shares of the company’s stock valued at $165,259,000 after purchasing an additional 1,285,585 shares during the period. Crossmark Global Holdings Inc. bought a new position in Roku in the 3rd quarter valued at $2,997,000. MH & Associates Securities Management Corp ADV bought a new position in Roku in the 4th quarter valued at $2,398,000. Finally, Magnetar Financial LLC bought a new position in Roku in the 3rd quarter valued at $5,466,000. 86.30% of the stock is owned by institutional investors.

Trending Headlines about Roku

Here are the key news stories impacting Roku this week:

• Positive Sentiment: Fox agreed to buy Roku (ROKU) for about $22 billion, valuing shares at $160 each and giving Roku holders cash plus Fox stock; the deal has driven takeover speculation and a higher valuation for the company. Fox to buy Roku in $22 billion deal
• Positive Sentiment: Several Wall Street firms raised or reiterated bullish views on Roku (ROKU), including higher price targets around $160 to $175, supporting the stock after the acquisition news. Analyst updates on Roku
• Neutral Sentiment: Law firms have begun investigating whether the proposed Fox deal gives Roku (ROKU) shareholders a fair price, which adds some uncertainty but does not change the deal terms yet. Fairness investigation into Roku sale
• Negative Sentiment: Roku CFO Dan Jedda sold 7,000 shares under a pre-arranged trading plan, which may weigh on sentiment even though the sale was disclosed as routine. Roku insider sale

Insider Activity

In other news, insider Charles Collier sold 205,821 shares of the firm’s stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $105.00, for a total transaction of $21,611,205.00. Following the transaction, the insider directly owned 11,131 shares of the company’s stock, valued at approximately $1,168,755. This trade represents a 94.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mustafa Ozgen sold 10,194 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $144.00, for a total value of $1,467,936.00. Following the transaction, the insider directly owned 19,185 shares in the company, valued at $2,762,640. This trade represents a 34.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 713,194 shares of company stock valued at $81,763,589. 13.45% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on ROKU shares. Zacks Research downgraded shares of Roku from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 14th. Susquehanna downgraded shares of Roku from a “positive” rating to a “neutral” rating and set a $160.00 price objective for the company. in a report on Tuesday. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $160.00 price objective (up from $150.00) on shares of Roku in a report on Tuesday. Pivotal Research reaffirmed a “buy” rating and set a $160.00 price objective (up from $140.00) on shares of Roku in a report on Friday, May 1st. Finally, William Blair downgraded shares of Roku from an “outperform” rating to a “market perform” rating in a report on Monday. Twelve equities research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $153.71.

Roku Trading Down 2.1%

Shares of NASDAQ:ROKU opened at $137.95 on Wednesday. The stock’s 50-day moving average price is $120.40 and its 200-day moving average price is $106.95. Roku, Inc. has a 12-month low of $77.64 and a 12-month high of $148.88. The stock has a market capitalization of $20.34 billion, a P/E ratio of 103.72 and a beta of 2.06.

Roku (NASDAQ:ROKU) last announced its quarterly earnings data on Thursday, April 30th. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.23. Roku had a return on equity of 7.64% and a net margin of 4.06%.The firm had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same period last year, the firm earned ($0.19) earnings per share. The company’s revenue for the quarter was up 22.4% compared to the same quarter last year. As a group, research analysts predict that Roku, Inc. will post 2.41 EPS for the current year.

Roku Profile

Roku, Inc (NASDAQ: ROKU) is a technology company that develops and operates a proprietary streaming platform designed to deliver entertainment content to consumers via internet-connected devices and smart televisions. Since its inception in 2002 in California, Roku has focused on simplifying access to streaming services for viewers worldwide. The company’s platform enables users to discover, access and manage a wide array of over-the-top content from major streaming services, free ad-supported channels and niche providers.

At the core of Roku’s product lineup are a range of streaming players and sticks, which connect to televisions via HDMI and deliver the Roku OS experience.