California Public Employees Retirement System Trims Stake in Roku, Inc. (NASDAQ:ROKU)

California Public Employees Retirement System reduced its position in Roku, Inc. (NASDAQ:ROKU - Free Report) by 6.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 197,030 shares of the company's stock after selling 12,591 shares during the period. California Public Employees Retirement System owned 0.14% of Roku worth $14,647,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of ROKU. Geneos Wealth Management Inc. boosted its holdings in Roku by 369.9% in the fourth quarter. Geneos Wealth Management Inc. now owns 343 shares of the company's stock worth $25,000 after acquiring an additional 270 shares in the last quarter. Vision Financial Markets LLC acquired a new stake in Roku in the 4th quarter worth approximately $30,000. Raelipskie Partnership acquired a new stake in Roku in the 3rd quarter worth approximately $32,000. Game Plan Financial Advisors LLC purchased a new stake in Roku during the 4th quarter worth approximately $37,000. Finally, Harvest Fund Management Co. Ltd increased its stake in Roku by 4,091.7% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 503 shares of the company's stock valued at $37,000 after purchasing an additional 491 shares in the last quarter. Institutional investors own 86.30% of the company's stock.

Insider Buying and Selling

In other news, insider Charles Collier sold 7,181 shares of Roku stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $78.25, for a total transaction of $561,913.25. Following the transaction, the insider now owns 7,380 shares in the company, valued at $577,485. The trade was a 49.32 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Anthony J. Wood sold 4,600 shares of the company's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $75.00, for a total transaction of $345,000.00. Following the completion of the sale, the chief executive officer now directly owns 6,243 shares of the company's stock, valued at $468,225. This represents a 42.42 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 97,905 shares of company stock worth $8,632,306. 13.98% of the stock is owned by insiders.

Roku Stock Down 3.6 %

Shares of NASDAQ ROKU traded down $2.03 during trading on Tuesday, hitting $55.10. The company had a trading volume of 5,631,172 shares, compared to its average volume of 3,758,464. Roku, Inc. has a fifty-two week low of $48.33 and a fifty-two week high of $104.96. The stock has a fifty day simple moving average of $78.09 and a two-hundred day simple moving average of $76.95. The firm has a market capitalization of $8.04 billion, a price-to-earnings ratio of -61.91 and a beta of 2.17.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ROKU. Pivotal Research raised shares of Roku from a "hold" rating to a "buy" rating and boosted their price objective for the company from $65.00 to $125.00 in a report on Friday, February 14th. Compass Point assumed coverage on Roku in a report on Sunday, March 23rd. They issued a "buy" rating on the stock. Moffett Nathanson upgraded Roku from a "sell" rating to a "neutral" rating and set a $70.00 price objective for the company in a research note on Tuesday, March 4th. Needham & Company LLC reiterated a "buy" rating and issued a $120.00 target price on shares of Roku in a research report on Monday, March 24th. Finally, Bank of America initiated coverage on shares of Roku in a research report on Thursday, March 27th. They set a "buy" rating and a $100.00 price target for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eighteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $96.70.

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.