Roku, Inc. (NASDAQ:ROKU) Stock Position Lowered by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lowered its stake in shares of Roku, Inc. (NASDAQ:ROKU - Free Report) by 9.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 593,789 shares of the company's stock after selling 63,512 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.41% of Roku worth $44,142,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in 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 valued at $25,000 after acquiring an additional 270 shares during the last quarter. Vision Financial Markets LLC acquired a new position in shares of Roku in the 4th quarter valued at about $30,000. Raelipskie Partnership purchased a new stake in shares of Roku during the 3rd quarter worth about $32,000. Game Plan Financial Advisors LLC acquired a new stake in Roku during the 4th quarter worth approximately $37,000. Finally, GS Investments Inc. raised its holdings in Roku by 33.4% in the third quarter. GS Investments Inc. now owns 587 shares of the company's stock valued at $44,000 after buying an additional 147 shares during the period. Institutional investors and hedge funds own 86.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research 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. Robert W. Baird upgraded Roku from a "neutral" rating to an "outperform" rating and boosted their price objective for the stock from $70.00 to $90.00 in a research note on Monday, November 18th. JMP Securities increased their target price on Roku from $95.00 to $115.00 and gave the company a "market outperform" rating in a research note on Friday, February 14th. Pivotal Research raised 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 report on Friday, February 14th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $100.00 price objective on shares of Roku in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $96.71.

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Roku Price Performance

Shares of NASDAQ:ROKU traded down $3.33 during trading on Thursday, reaching $67.63. 3,681,955 shares of the company's stock traded hands, compared to its average volume of 3,786,615. The company has a 50 day moving average of $82.05 and a 200-day moving average of $77.07. Roku, Inc. has a 12 month low of $48.33 and a 12 month high of $104.96. The stock has a market capitalization of $9.87 billion, a P/E ratio of -75.99 and a beta of 2.12.

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

Insider Buying and Selling at Roku

In other Roku news, insider Charles Collier sold 7,181 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $78.25, for a total value of $561,913.25. Following the sale, the insider now owns 7,380 shares in the company, valued at approximately $577,485. This trade represents a 49.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Matthew C. Banks sold 1,906 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $80.36, for a total value of $153,166.16. Following the transaction, the chief accounting officer now owns 7,256 shares of the company's stock, valued at approximately $583,092.16. This represents a 20.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 93,308 shares of company stock worth $8,296,166. 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.