National Bank of Canada FI Increases Stock Position in Roku, Inc. (NASDAQ:ROKU)

National Bank of Canada FI increased its holdings in shares of Roku, Inc. (NASDAQ:ROKU - Free Report) by 11,626.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 150,800 shares of the company's stock after purchasing an additional 149,514 shares during the period. National Bank of Canada FI owned approximately 0.10% of Roku worth $11,259,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its holdings in shares of Roku by 123.4% in the second quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company's stock valued at $40,000 after purchasing an additional 375 shares in the last quarter. Future Financial Wealth Managment LLC bought a new stake in Roku in the 3rd quarter valued at approximately $43,000. GS Investments Inc. grew its stake in shares of Roku by 33.4% during the 3rd quarter. GS Investments Inc. now owns 587 shares of the company's stock worth $44,000 after acquiring an additional 147 shares in the last quarter. Cedar Wealth Management LLC bought a new position in shares of Roku during the 2nd quarter worth approximately $48,000. Finally, AM Squared Ltd bought a new stake in shares of Roku in the second quarter worth $66,000. 86.30% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Benchmark restated a "buy" rating and set a $105.00 price objective on shares of Roku in a research note on Thursday, September 12th. Wolfe Research upgraded Roku from a "peer perform" rating to an "outperform" rating and set a $93.00 price objective on the stock in a research note on Thursday, September 12th. Macquarie reiterated an "outperform" rating and set a $90.00 target price on shares of Roku in a research note on Thursday, October 31st. Needham & Company LLC restated a "buy" rating and issued a $100.00 price target on shares of Roku in a research note on Wednesday, December 4th. Finally, Citigroup lifted their price objective on shares of Roku from $60.00 to $77.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 25th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Roku has an average rating of "Moderate Buy" and an average target price of $83.81.

Roku Stock Performance

Shares of ROKU stock traded up $0.60 during trading hours on Wednesday, hitting $82.42. 2,469,139 shares of the company were exchanged, compared to its average volume of 4,424,990. The company has a 50 day simple moving average of $74.56 and a two-hundred day simple moving average of $66.49. The firm has a market cap of $11.97 billion, a P/E ratio of -69.45 and a beta of 2.06. Roku, Inc. has a fifty-two week low of $48.33 and a fifty-two week high of $108.84.

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

Insider Transactions at Roku

In related news, insider Charles Collier sold 15,454 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $75.00, for a total transaction of $1,159,050.00. Following the completion of the sale, the insider now directly owns 200 shares of the company's stock, valued at approximately $15,000. This trade represents a 98.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Dan Jedda sold 1,000 shares of the business's stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $75.33, for a total value of $75,330.00. Following the completion of the transaction, the chief financial officer now directly owns 54,267 shares in the company, valued at approximately $4,087,933.11. This represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 88,550 shares of company stock valued at $6,621,873 over the last ninety days. 13.98% of the stock is currently 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.