California Public Employees Retirement System Increases Stock Position in Roku, Inc. $ROKU

California Public Employees Retirement System raised its stake in shares of Roku, Inc. (NASDAQ:ROKU) by 14.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 260,774 shares of the company’s stock after purchasing an additional 33,593 shares during the quarter. California Public Employees Retirement System’s holdings in Roku were worth $24,674,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Blue Trust Inc. grew its position in Roku by 680.0% in the fourth quarter. Blue Trust Inc. now owns 234 shares of the company’s stock worth $25,000 after acquiring an additional 204 shares in the last quarter. Bayban increased its stake in Roku by 1,300.0% in the first quarter. Bayban now owns 280 shares of the company’s stock valued at $26,000 after acquiring an additional 260 shares during the last quarter. WPG Advisers LLC bought a new position in Roku in the fourth quarter valued at $31,000. Safe Harbor Fiduciary LLC purchased a new stake in Roku during the fourth quarter valued at about $31,000. Finally, Osbon Capital Management LLC purchased a new stake in Roku during the fourth quarter valued at about $45,000. Hedge funds and other institutional investors own 86.30% of the company’s stock.

Roku Trading Down 0.8%

ROKU opened at $143.08 on Thursday. The company has a market cap of $21.09 billion, a P/E ratio of 107.58 and a beta of 2.01. The business’s 50-day moving average price is $133.72 and its 200-day moving average price is $113.28. Roku, Inc. has a 12 month low of $78.53 and a 12 month high of $148.88.

Roku (NASDAQ:ROKU) last posted its quarterly earnings results on Thursday, April 30th. The company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.23. Roku had a return on equity of 7.64% and a net margin of 4.06%.The business had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period last year, the company earned ($0.19) EPS. Roku’s revenue for the quarter was up 22.4% compared to the same quarter last year. Equities research analysts forecast that Roku, Inc. will post 2.41 earnings per share for the current fiscal year.

Analyst Ratings Changes

ROKU has been the subject of a number of research reports. KeyCorp cut Roku from an “overweight” rating to a “sector weight” rating in a report on Monday, June 15th. Jefferies Financial Group cut Roku from a “buy” rating to a “hold” rating and set a $160.00 price objective on the stock. in a report on Monday, June 15th. Robert W. Baird restated a “neutral” rating and issued a $160.00 target price on shares of Roku in a research report on Monday, June 15th. Oppenheimer downgraded Roku from an “outperform” rating to a “market perform” rating in a research report on Monday, June 15th. Finally, Susquehanna lowered Roku from a “positive” rating to a “neutral” rating and set a $160.00 target price for the company. in a research note on Tuesday, June 16th. Ten investment analysts have rated the stock with a Buy rating and seventeen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $155.12.

Insider Transactions at Roku

In other news, insider Mustafa Ozgen sold 10,194 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $144.00, for a total transaction of $1,467,936.00. Following the completion of the transaction, the insider directly owned 19,185 shares of the company’s stock, valued at approximately $2,762,640. This represents a 34.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Dan Jedda sold 7,000 shares of the business’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $122.56, for a total value of $857,920.00. Following the transaction, the chief financial officer owned 71,115 shares in the company, valued at approximately $8,715,854.40. This represents a 8.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 236,499 shares of company stock valued at $30,582,963. Company insiders own 13.45% of the company’s stock.

Roku Profile

Roku, Inc (NASDAQ: ROKU) is a technology company that develops and operates a proprietary streaming platform designed to deliver entertainment content to consumers via internet-connected devices and smart televisions. Since its inception in 2002 in California, Roku has focused on simplifying access to streaming services for viewers worldwide. The company’s platform enables users to discover, access and manage a wide array of over-the-top content from major streaming services, free ad-supported channels and niche providers.

At the core of Roku’s product lineup are a range of streaming players and sticks, which connect to televisions via HDMI and deliver the Roku OS experience.