Roku, Inc. (NASDAQ:ROKU) Stake Boosted by California State Teachers Retirement System

California State Teachers Retirement System increased its stake in Roku, Inc. (NASDAQ:ROKU) by 1.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 197,106 shares of the company’s stock after purchasing an additional 2,190 shares during the quarter. California State Teachers Retirement System owned approximately 0.14% of Roku worth $12,845,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of ROKU. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Roku by 24.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,349,067 shares of the company’s stock worth $478,939,000 after purchasing an additional 1,457,925 shares during the last quarter. Nikko Asset Management Americas Inc. grew its holdings in shares of Roku by 25.8% during the first quarter. Nikko Asset Management Americas Inc. now owns 7,091,891 shares of the company’s stock worth $462,108,000 after buying an additional 1,455,408 shares in the last quarter. Norges Bank bought a new position in shares of Roku during the fourth quarter worth about $90,386,000. Quadrature Capital Ltd bought a new position in shares of Roku during the fourth quarter worth about $35,856,000. Finally, Vanguard Group Inc. grew its stake in Roku by 3.3% in the fourth quarter. Vanguard Group Inc. now owns 11,853,947 shares of the company’s stock valued at $1,086,533,000 after purchasing an additional 380,409 shares in the last quarter. Hedge funds and other institutional investors own 86.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ROKU shares. Seaport Res Ptn upgraded Roku from a “neutral” rating to a “buy” rating in a research note on Monday, April 29th. Susquehanna decreased their price target on Roku from $110.00 to $80.00 and set a “positive” rating on the stock in a research note on Monday, April 29th. Piper Sandler reiterated a “neutral” rating and issued a $65.00 price target (down previously from $81.00) on shares of Roku in a research note on Friday, April 26th. Needham & Company LLC restated a “buy” rating and set a $100.00 price objective on shares of Roku in a research report on Thursday, June 20th. Finally, Rosenblatt Securities restated a “neutral” rating and set a $89.00 price objective on shares of Roku in a research report on Friday, April 26th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $81.84.

Insider Buying and Selling

In related news, SVP Stephen H. Kay sold 12,124 shares of the stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $55.59, for a total value of $673,973.16. Following the completion of the transaction, the senior vice president now owns 91,905 shares of the company’s stock, valued at approximately $5,108,998.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Mai Fyfield sold 650 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $57.88, for a total transaction of $37,622.00. Following the transaction, the director now directly owns 3,259 shares of the company’s stock, valued at $188,630.92. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Stephen H. Kay sold 12,124 shares of Roku stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $55.59, for a total transaction of $673,973.16. Following the transaction, the senior vice president now directly owns 91,905 shares in the company, valued at $5,108,998.95. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,075 shares of company stock valued at $1,556,005. Company insiders own 13.98% of the company’s stock.

Roku Price Performance

Shares of NASDAQ:ROKU traded up $0.12 during midday trading on Friday, hitting $55.45. The company had a trading volume of 1,218,398 shares, compared to its average volume of 4,733,750. The company has a market cap of $7.99 billion, a price-to-earnings ratio of -13.84 and a beta of 1.96. The company has a fifty day moving average of $58.50 and a two-hundred day moving average of $65.51. Roku, Inc. has a 12-month low of $51.51 and a 12-month high of $108.84.

Roku (NASDAQ:ROKU) last issued its earnings results on Thursday, August 1st. The company reported ($0.24) earnings per share 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 the consensus estimate of $937.78 million. Roku had a negative net margin of 15.64% and a negative return on equity of 23.81%. Roku’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.76) EPS. Research analysts expect that Roku, Inc. will post -1.94 earnings per share 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.