Bank of Montreal Can Cuts Stock Holdings in Roku, Inc. (NASDAQ:ROKU)

Bank of Montreal Can decreased its stake in Roku, Inc. (NASDAQ:ROKU - Free Report) by 19.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,234 shares of the company's stock after selling 8,188 shares during the quarter. Bank of Montreal Can's holdings in Roku were worth $2,471,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. FMR LLC increased its stake in Roku by 31.7% in the 4th quarter. FMR LLC now owns 19,183,942 shares of the company's stock worth $1,426,134,000 after buying an additional 4,613,570 shares in the last quarter. Jupiter Asset Management Ltd. grew its position in shares of Roku by 164.5% during the fourth quarter. Jupiter Asset Management Ltd. now owns 506,351 shares of the company's stock worth $37,642,000 after purchasing an additional 314,931 shares in the last quarter. Russell Investments Group Ltd. raised its stake in Roku by 265.4% during the 4th quarter. Russell Investments Group Ltd. now owns 265,062 shares of the company's stock valued at $19,715,000 after purchasing an additional 192,520 shares during the period. Vanguard Group Inc. lifted its holdings in Roku by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 12,249,091 shares of the company's stock worth $910,597,000 after purchasing an additional 185,676 shares in the last quarter. Finally, ExodusPoint Capital Management LP bought a new position in Roku in the 4th quarter worth approximately $7,485,000. Institutional investors own 86.30% of the company's stock.

Roku Trading Up 0.1 %

Shares of ROKU traded up $0.06 during trading hours on Friday, hitting $58.46. The company had a trading volume of 2,568,091 shares, compared to its average volume of 3,798,898. The company has a market capitalization of $8.53 billion, a PE ratio of -65.69 and a beta of 2.17. The company's fifty day moving average price is $74.56 and its two-hundred day moving average price is $76.13. Roku, Inc. has a one year low of $48.33 and a one year high of $104.96.

Roku (NASDAQ:ROKU - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.44) by $0.20. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.15 billion. Analysts forecast that Roku, Inc. will post -0.3 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently issued reports on ROKU. Bank of America began coverage on shares of Roku in a research report on Thursday, March 27th. They set a "buy" rating and a $100.00 price objective on the stock. Pivotal Research upgraded shares of Roku from a "hold" rating to a "buy" rating and boosted their price target for the stock from $65.00 to $125.00 in a research note on Friday, February 14th. Moffett Nathanson raised shares of Roku from a "sell" rating to a "neutral" rating and set a $70.00 price objective for the company in a report on Tuesday, March 4th. Piper Sandler began coverage on shares of Roku in a research note on Thursday. They set a "neutral" rating and a $65.00 price target on the stock. Finally, Citigroup upgraded Roku from a "neutral" rating to an "outperform" rating in a report on Sunday, March 23rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $94.11.

Insiders Place Their Bets

In other Roku news, CEO Anthony J. Wood sold 4,600 shares of Roku stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $75.00, for a total transaction of $345,000.00. Following the completion of the transaction, the chief executive officer now owns 6,243 shares in the company, valued at approximately $468,225. This trade represents a 42.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Dan Jedda sold 1,000 shares of the company's stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $75.00, for a total value of $75,000.00. Following the completion of the sale, the chief financial officer now owns 68,843 shares in the company, valued at $5,163,225. The trade was a 1.43 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 71,905 shares of company stock valued at $6,560,876. 13.98% of the stock is owned by insiders.

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.