Artisan Partners, a high value-added investment management firm, published its ‘Artisan Mid Cap Fund’ fourth quarter 2021 investor letter – a copy of which can be downloaded here. A return of -0.72% was recorded by its Investor Class: ARTMX, -0.68% by its Advisor Class: APDMX, and -0.66% by its Institutional Class: APHMX, in the fourth quarter of 2021, all underperforming the Russell Midcap® Growth Index that delivered a 2.85% return, and the Russell Midcap® Index that was up by 6.44% for the same period. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.
Artisan Mid Cap Fund, in its Q4 2021 investor letter, mentioned Roku, Inc. (NASDAQ: ROKU) and discussed its stance on the firm. Roku, Inc. is a Los Gatos, California-based traded company with a $15.1 billion market capitalization. ROKU delivered a -50.72% return since the beginning of the year, while its 12-month returns are down by -75.93%. The stock closed at $112.46 per share on February 22, 2022.
Here is what Artisan Mid Cap Fund has to say about Roku, Inc. in its Q4 2021 investor letter:
“Roku’s active account growth slowed for the fourth straight quarter after a very strong 2020. Consumers’ TV viewing patterns are normalizing post the most intense phase of the pandemic, and supply
chain pressures among the company’s OEM partners have put upward pressure on TV prices and negatively impacted sales. One notable bright spot remains Roku’s solid progress in monetizing viewership as it attracts more advertising onto its platform. That said, viewership growth is a key input to Roku’s long-term growth outlook, and we continue to monitor the aforementioned headwinds to determine when growth will reaccelerate. Based on the likelihood that a meaningful portion of the $60bn-$70bn of traditional TV advertising market will migrate to connected TV platforms in the coming years, we have maintained our modest sized position during this period of tempered viewership growth.”
Photo by Petter Lagson on Unsplash
Our calculations show that Roku, Inc. (NASDAQ: ROKU) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. ROKU was in 43 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 57 funds in the previous quarter. Roku, Inc. (NASDAQ: ROKU) delivered a -51.96% return in the past 3 months.
In December 2021, we also shared another hedge fund’s views on ROKU in another article. You can find other letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.
Disclosure: None. This article is originally published at Insider Monkey.
