Canada Pension Plan Investment Board Acquires 198,600 Shares of Roku, Inc. (NASDAQ:ROKU)

Canada Pension Plan Investment Board raised its stake in shares of Roku, Inc. (NASDAQ:ROKU) by 138.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 342,400 shares of the company’s stock after buying an additional 198,600 shares during the quarter. Canada Pension Plan Investment Board owned about 0.24% of Roku worth $22,314,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. GAMMA Investing LLC bought a new stake in shares of Roku in the 4th quarter worth about $27,000. Quarry LP grew its position in Roku by 160.2% in the fourth quarter. Quarry LP now owns 432 shares of the company’s stock worth $40,000 after acquiring an additional 266 shares in the last quarter. Benjamin Edwards Inc. increased its stake in Roku by 43.5% during the first quarter. Benjamin Edwards Inc. now owns 617 shares of the company’s stock worth $40,000 after acquiring an additional 187 shares during the last quarter. Geneos Wealth Management Inc. raised its position in Roku by 835.6% during the first 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. Finally, Natixis bought a new stake in shares of Roku in the 1st quarter valued at approximately $53,000. Institutional investors own 86.30% of the company’s stock.

Insider Activity at Roku

In other Roku news, SVP Stephen H. Kay sold 3,322 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $57.09, for a total value of $189,652.98. Following the completion of the transaction, the senior vice president now directly owns 82,036 shares of the company’s stock, valued at $4,683,435.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Charles Collier sold 3,590 shares of Roku stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $65.00, for a total value of $233,350.00. Following the completion of the transaction, the insider now owns 12,064 shares in the company, valued at approximately $784,160. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Stephen H. Kay sold 3,322 shares of the company’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $57.09, for a total value of $189,652.98. Following the completion of the transaction, the senior vice president now directly owns 82,036 shares of the company’s stock, valued at approximately $4,683,435.24. The disclosure for this sale can be found here. Insiders have sold a total of 27,281 shares of company stock worth $1,567,805 over the last quarter. Insiders own 13.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Susquehanna dropped their price objective on shares of Roku from $110.00 to $80.00 and set a “positive” rating for the company in a research note on Monday, April 29th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $89.00 price objective on shares of Roku in a research note on Friday, April 26th. Piper Sandler reaffirmed a “neutral” rating and set a $65.00 price objective (down from $81.00) on shares of Roku in a research note on Friday, April 26th. Benchmark reaffirmed a “buy” rating and set a $105.00 price objective on shares of Roku in a research note on Wednesday, July 10th. Finally, Citigroup dropped their price objective on shares of Roku from $75.00 to $70.00 and set a “neutral” rating for the company in a research note on Tuesday, April 30th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $82.50.

Roku Trading Up 2.8 %

Shares of ROKU stock traded up $1.59 during trading hours on Friday, reaching $59.04. 3,006,726 shares of the company’s stock were exchanged, compared to its average volume of 3,413,736. Roku, Inc. has a 1 year low of $51.51 and a 1 year high of $108.84. The stock has a market cap of $8.51 billion, a PE ratio of -14.80 and a beta of 1.96. The stock’s fifty day moving average price is $58.55 and its two-hundred day moving average price is $66.37.

Roku (NASDAQ:ROKU) last issued its quarterly earnings results on Thursday, April 25th. The company reported ($0.35) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.64) by $0.29. Roku had a negative return on equity of 23.81% and a negative net margin of 15.64%. The business had revenue of $881.50 million for the quarter, compared to analyst estimates of $843.54 million. During the same quarter in the previous year, the firm earned ($1.38) earnings per share. The company’s revenue was up 19.0% on a year-over-year basis. On average, equities analysts expect that Roku, Inc. will post -1.94 EPS for the current fiscal year.

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.