California Public Employees Retirement System Lowers Stock Position in Roku, Inc. (NASDAQ:ROKU)

California Public Employees Retirement System lessened its holdings in Roku, Inc. (NASDAQ:ROKU) by 6.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 197,030 shares of the company’s stock after selling 12,591 shares during the quarter. California Public Employees Retirement System owned 0.14% of Roku worth $14,647,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Investment Management Corp of Ontario purchased a new stake in shares of Roku in the third quarter worth $318,000. Integrated Wealth Concepts LLC grew its holdings in shares of Roku by 26.9% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 20,890 shares of the company’s stock valued at $1,560,000 after purchasing an additional 4,427 shares during the last quarter. Polar Asset Management Partners Inc. bought a new position in Roku during the 3rd quarter worth approximately $2,957,000. Quantinno Capital Management LP increased its stake in shares of Roku by 21.3% in the third quarter. Quantinno Capital Management LP now owns 74,289 shares of the company’s stock worth $5,546,000 after buying an additional 13,049 shares during the period. Finally, Quadrature Capital Ltd bought a new stake in shares of Roku in the 3rd quarter worth approximately $5,113,000. Hedge funds and other institutional investors own 86.30% of the company’s stock.

Insider Transactions at Roku

In other news, CFO Dan Jedda sold 1,000 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $77.18, for a total value of $77,180.00. Following the completion of the sale, the chief financial officer now owns 63,555 shares of the company’s stock, valued at $4,905,174.90. This trade represents a 1.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Matthew C. Banks sold 1,906 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $80.36, for a total value of $153,166.16. Following the transaction, the chief accounting officer now directly owns 7,256 shares in the company, valued at $583,092.16. This represents a 20.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 97,905 shares of company stock valued at $8,632,306 in the last 90 days. Insiders own 13.98% of the company’s stock.

Roku Stock Down 8.3 %

Roku stock opened at $55.28 on Friday. The firm has a market cap of $8.07 billion, a P/E ratio of -62.11 and a beta of 2.17. The business has a fifty day moving average of $79.65 and a two-hundred day moving average of $77.37. Roku, Inc. has a twelve month low of $48.33 and a twelve month high of $104.96.

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

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Pivotal Research upgraded Roku from a “hold” rating to a “buy” rating and upped their target price for the stock from $65.00 to $125.00 in a report on Friday, February 14th. JPMorgan Chase & Co. increased their price target on shares of Roku from $92.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Benchmark lifted their price objective on Roku from $100.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Needham & Company LLC reiterated a “buy” rating and set a $120.00 target price on shares of Roku in a research note on Monday, March 24th. Finally, UBS Group upgraded shares of Roku from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 27th. One research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $96.55.

Roku Company Profile

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.