California State Teachers Retirement System Sells 5,424 Shares of Roku, Inc. (NASDAQ:ROKU)

California State Teachers Retirement System lessened its holdings in Roku, Inc. (NASDAQ:ROKU) by 2.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 198,489 shares of the company’s stock after selling 5,424 shares during the period. California State Teachers Retirement System’s holdings in Roku were worth $14,756,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Geneos Wealth Management Inc. increased its position in Roku by 369.9% in the 4th quarter. Geneos Wealth Management Inc. now owns 343 shares of the company’s stock valued at $25,000 after acquiring an additional 270 shares during the period. Vision Financial Markets LLC bought a new stake in shares of Roku in the fourth quarter worth $30,000. Game Plan Financial Advisors LLC acquired a new stake in Roku in the fourth quarter valued at $37,000. Harvest Fund Management Co. Ltd raised its position in Roku by 4,091.7% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 503 shares of the company’s stock worth $37,000 after purchasing an additional 491 shares during the last quarter. Finally, Allianz SE bought a new position in Roku during the 4th quarter worth $39,000. Institutional investors own 86.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Wedbush reduced their price target on Roku from $125.00 to $100.00 and set an “outperform” rating on the stock in a research report on Monday, April 28th. Bank of America initiated coverage on Roku in a report on Thursday, March 27th. They issued a “buy” rating and a $100.00 target price on the stock. Wells Fargo & Company lowered their price target on shares of Roku from $129.00 to $93.00 and set an “overweight” rating for the company in a report on Monday, April 28th. JPMorgan Chase & Co. dropped their price target on shares of Roku from $115.00 to $75.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. Finally, Pivotal Research decreased their price objective on shares of Roku from $125.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Roku presently has a consensus rating of “Moderate Buy” and an average price target of $87.93.

Roku Price Performance

Shares of Roku stock opened at $71.57 on Friday. The business has a 50-day simple moving average of $65.51 and a 200 day simple moving average of $74.39. The firm has a market capitalization of $10.45 billion, a price-to-earnings ratio of -80.42 and a beta of 2.06. Roku, Inc. has a one year low of $48.33 and a one year high of $104.96.

Roku (NASDAQ:ROKU) last released its quarterly earnings data on Thursday, May 1st. The company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.08. Roku had a negative return on equity of 5.34% and a negative net margin of 3.15%. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the previous year, the company posted ($0.35) earnings per share. The company’s quarterly revenue was up 15.8% on a year-over-year basis. On average, sell-side analysts expect that Roku, Inc. will post -0.3 EPS for the current year.

Insider Buying and Selling at Roku

In related news, CAO Matthew C. Banks sold 1,906 shares of the firm’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 owns 7,256 shares of the company’s stock, valued at approximately $583,092.16. This trade represents a 20.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Anthony J. Wood sold 4,600 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $75.00, for a total value of $345,000.00. Following the sale, the chief executive officer now directly owns 6,243 shares of the company’s stock, valued at $468,225. This represents a 42.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 40,100 shares of company stock worth $3,039,215. 13.98% of the stock is owned by corporate insiders.

Roku 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.