Canada Pension Plan Investment Board Trims Stock Holdings in Roku, Inc. (NASDAQ:ROKU)

Canada Pension Plan Investment Board reduced its holdings in shares of Roku, Inc. (NASDAQ:ROKU) by 43.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 194,900 shares of the company’s stock after selling 147,500 shares during the quarter. Canada Pension Plan Investment Board owned about 0.14% of Roku worth $11,680,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of ROKU. Quarry LP lifted its holdings in shares of Roku by 160.2% in the fourth quarter. Quarry LP now owns 432 shares of the company’s stock worth $40,000 after buying an additional 266 shares in the last quarter. Benjamin Edwards Inc. lifted its stake in Roku by 43.5% in the 1st quarter. Benjamin Edwards Inc. now owns 617 shares of the company’s stock worth $40,000 after purchasing an additional 187 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in Roku by 835.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 683 shares of the company’s stock valued at $45,000 after purchasing an additional 610 shares during the period. Natixis purchased a new position in shares of Roku during the 1st quarter valued at $53,000. Finally, Versant Capital Management Inc raised its position in shares of Roku by 706.2% in the second quarter. Versant Capital Management Inc now owns 911 shares of the company’s stock worth $55,000 after buying an additional 798 shares in the last quarter. 86.30% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Gilbert Fuchsberg sold 1,693 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $64.39, for a total value of $109,012.27. Following the transaction, the insider now owns 38,602 shares of the company’s stock, valued at $2,485,582.78. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Charles Collier sold 3,590 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $65.00, for a total value of $233,350.00. Following the transaction, the insider now directly owns 12,064 shares of the company’s stock, valued at approximately $784,160. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Gilbert Fuchsberg sold 1,693 shares of Roku stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $64.39, for a total value of $109,012.27. Following the transaction, the insider now owns 38,602 shares in the company, valued at $2,485,582.78. The disclosure for this sale can be found here. Insiders sold 46,945 shares of company stock valued at $3,465,135 in the last quarter. 13.98% of the stock is currently owned by insiders.

Roku Trading Down 2.9 %

Shares of ROKU stock opened at $73.80 on Tuesday. The stock has a market capitalization of $10.64 billion, a P/E ratio of -18.50 and a beta of 2.06. The firm’s 50 day moving average is $63.56 and its 200 day moving average is $61.22. Roku, Inc. has a 12-month low of $48.33 and a 12-month high of $108.84.

Roku (NASDAQ:ROKU) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.21. The company had revenue of $968.18 million during the quarter, compared to analyst estimates of $937.78 million. Roku had a negative return on equity of 21.03% and a negative net margin of 13.16%. Roku’s revenue was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.76) earnings per share. As a group, equities analysts predict that Roku, Inc. will post -1.45 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on ROKU shares. Wells Fargo & Company raised Roku from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $50.00 to $72.00 in a report on Thursday, September 5th. Wolfe Research upgraded shares of Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 target price for the company in a research report on Thursday, September 12th. Benchmark reissued a “buy” rating and issued a $105.00 price target on shares of Roku in a report on Thursday, September 12th. Bank of America lowered their price objective on shares of Roku from $85.00 to $75.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. upped their target price on shares of Roku from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 18th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $78.75.

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.