M&T Bank Corp Acquires 503 Shares of Roku, Inc. (NASDAQ:ROKU)

M&T Bank Corp raised its holdings in shares of Roku, Inc. (NASDAQ:ROKU) by 7.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,527 shares of the company’s stock after acquiring an additional 503 shares during the quarter. M&T Bank Corp’s holdings in Roku were worth $560,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of ROKU. Geneos Wealth Management Inc. grew its position in shares of Roku by 369.9% during the 4th quarter. Geneos Wealth Management Inc. now owns 343 shares of the company’s stock valued at $25,000 after purchasing an additional 270 shares in the last quarter. Raelipskie Partnership purchased a new position in shares of Roku during the 3rd quarter valued at $32,000. Game Plan Financial Advisors LLC purchased a new position in shares of Roku during the 4th quarter valued at $37,000. GS Investments Inc. grew its position in shares of Roku by 33.4% during the 3rd quarter. GS Investments Inc. now owns 587 shares of the company’s stock valued at $44,000 after purchasing an additional 147 shares in the last quarter. Finally, Allworth Financial LP grew its position in shares of Roku by 52.8% during the 4th quarter. Allworth Financial LP now owns 634 shares of the company’s stock valued at $50,000 after purchasing an additional 219 shares in the last quarter. Institutional investors own 86.30% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on ROKU. Pivotal Research upgraded shares of Roku from a “hold” rating to a “buy” rating and boosted their price target for the company from $65.00 to $125.00 in a research report on Friday, February 14th. Moffett Nathanson upgraded shares of Roku from a “sell” rating to a “neutral” rating and set a $70.00 price target for the company in a research report on Tuesday, March 4th. Jefferies Financial Group upgraded shares of Roku from an “underperform” rating to a “hold” rating and upped their target price for the stock from $55.00 to $100.00 in a research report on Thursday, February 20th. UBS Group upped their target price on shares of Roku from $73.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Finally, Robert W. Baird upgraded shares of Roku from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $70.00 to $90.00 in a research report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $96.71.

Roku Trading Up 1.9 %

Shares of NASDAQ:ROKU opened at $70.96 on Thursday. The company has a market cap of $10.36 billion, a price-to-earnings ratio of -79.73 and a beta of 2.12. The company has a 50-day moving average price of $82.05 and a 200-day moving average price of $77.07. Roku, Inc. has a 12 month low of $48.33 and a 12 month high of $104.96.

Roku (NASDAQ:ROKU) last released its quarterly earnings results on Thursday, February 13th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.20. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.15 billion. As a group, research analysts forecast that Roku, Inc. will post -0.3 EPS for the current fiscal year.

Insider Buying and Selling

In other Roku news, insider Charles Collier sold 7,181 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $78.25, for a total value of $561,913.25. Following the sale, the insider now owns 7,380 shares in the company, valued at approximately $577,485. This represents a 49.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Matthew C. Banks sold 1,906 shares of the company’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $80.36, for a total transaction of $153,166.16. Following the completion of the sale, the chief accounting officer now owns 7,256 shares in the company, valued at approximately $583,092.16. This trade represents a 20.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 93,308 shares of company stock valued at $8,296,166 over the last three months. Corporate insiders own 13.98% of the company’s stock.

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.