ArrowMark Colorado Holdings LLC reduced its position in Roku Inc (NASDAQ:ROKU) by 11.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 60,000 shares of the company’s stock after selling 7,421 shares during the period. ArrowMark Colorado Holdings LLC’s holdings in Roku were worth $3,107,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. The Manufacturers Life Insurance Company acquired a new position in Roku in the 4th quarter worth about $130,000. MYDA Advisors LLC acquired a new position in Roku in the 4th quarter worth about $207,000. Oppenheimer Asset Management Inc. acquired a new position in Roku in the 3rd quarter worth about $216,000. Raymond James Financial Services Advisors Inc. acquired a new position in Roku in the 4th quarter worth about $247,000. Finally, Kessler Investment Group LLC acquired a new position in Roku in the 4th quarter worth about $254,000. 10.41% of the stock is currently owned by institutional investors.
A number of research analysts have recently commented on the company. ValuEngine raised Roku from a “strong sell” rating to a “sell” rating in a report on Wednesday, March 7th. BidaskClub lowered Roku from a “buy” rating to a “hold” rating in a report on Tuesday, February 27th. Royal Bank of Canada increased their price objective on Roku to $45.00 and gave the company a “sector perform” rating in a report on Thursday, February 22nd. Vetr raised Roku from a “hold” rating to a “strong-buy” rating and set a $50.50 price objective on the stock in a report on Thursday, February 22nd. Finally, Morgan Stanley reissued an “underweight” rating and set a $32.00 price objective (up previously from $30.00) on shares of Roku in a report on Thursday, February 22nd. Five investment analysts have rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $40.36.
Roku (NASDAQ:ROKU) last issued its quarterly earnings data on Wednesday, February 21st. The company reported $0.06 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.11) by $0.17. The company had revenue of $188.30 million for the quarter, compared to analyst estimates of $182.54 million. Roku’s revenue for the quarter was up 27.8% on a year-over-year basis. equities research analysts anticipate that Roku Inc will post -0.5 earnings per share for the current year.
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Roku, Inc operates television streaming platform. The Company connects users to streaming content, enables content publishers to build and monetize audiences and provides advertisers with capabilities to engage consumers. Its Roku platform allows users to personalize their content selection with cable television replacement offerings and other streaming services that suit their budget and needs.
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