Bank of Montreal Can Sells 31,143 Shares of Roku, Inc. (NASDAQ:ROKU)

Bank of Montreal Can cut its stake in shares of Roku, Inc. (NASDAQ:ROKU - Free Report) by 42.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 41,422 shares of the company's stock after selling 31,143 shares during the quarter. Bank of Montreal Can's holdings in Roku were worth $3,082,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. ARK Investment Management LLC lifted its stake in shares of Roku by 1.3% in the second quarter. ARK Investment Management LLC now owns 12,716,432 shares of the company's stock worth $762,096,000 after acquiring an additional 159,785 shares during the period. Westfield Capital Management Co. LP raised its position in shares of Roku by 126.1% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,535,576 shares of the company's stock worth $114,646,000 after acquiring an additional 856,401 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Roku by 3.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 955,969 shares of the company's stock worth $71,373,000 after buying an additional 30,038 shares during the period. Bank of New York Mellon Corp grew its holdings in Roku by 5.2% in the second quarter. Bank of New York Mellon Corp now owns 500,794 shares of the company's stock worth $30,013,000 after purchasing an additional 24,926 shares during the period. Finally, Swiss National Bank increased its stake in Roku by 1.3% in the third quarter. Swiss National Bank now owns 376,800 shares of the company's stock valued at $28,132,000 after purchasing an additional 5,000 shares in the last quarter. Institutional investors own 86.30% of the company's stock.

Roku Price Performance

NASDAQ:ROKU traded down $0.91 during trading hours on Thursday, hitting $82.03. The stock had a trading volume of 4,288,745 shares, compared to its average volume of 4,446,438. The company has a 50 day simple moving average of $73.86 and a two-hundred day simple moving average of $65.72. The firm has a market capitalization of $11.91 billion, a price-to-earnings ratio of -67.47 and a beta of 2.06. Roku, Inc. has a one year low of $48.33 and a one year high of $108.84.

Roku (NASDAQ:ROKU - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.35) by $0.29. Roku had a negative return on equity of 7.22% and a negative net margin of 4.42%. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter last year, the company earned ($2.33) earnings per share. The firm's quarterly revenue was up 16.5% on a year-over-year basis. Equities research analysts anticipate that Roku, Inc. will post -1.1 earnings per share for the current year.

Insider Activity

In other Roku news, CFO Dan Jedda sold 1,000 shares of the company's stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $75.33, for a total transaction of $75,330.00. Following the completion of the sale, the chief financial officer now directly owns 54,267 shares in the company, valued at $4,087,933.11. This represents a 1.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $75.00, for a total value of $1,875,000.00. Following the completion of the transaction, the chief executive officer now owns 5,020 shares in the company, valued at approximately $376,500. This represents a 83.28 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 88,550 shares of company stock worth $6,621,873. 13.98% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Baird R W raised shares of Roku from a "hold" rating to a "strong-buy" rating in a research report on Monday, November 18th. Wolfe Research upgraded Roku from a "peer perform" rating to an "outperform" rating and set a $93.00 price target on the stock in a report on Thursday, September 12th. Moffett Nathanson upgraded Roku from a "sell" rating to a "neutral" rating and set a $80.00 price objective for the company in a report on Tuesday, October 1st. JPMorgan Chase & Co. raised their price objective on shares of Roku from $90.00 to $92.00 and gave the company an "overweight" rating in a research note on Thursday, October 10th. Finally, Rosenblatt Securities lifted their price target on Roku from $61.00 to $86.00 and gave the company a "neutral" rating in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Roku currently has an average rating of "Moderate Buy" and an average price target of $82.62.

Roku Company 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.