Canada Pension Plan Investment Board Sells 12,000 Shares of Roku, Inc. (NASDAQ:ROKU)

Canada Pension Plan Investment Board cut its position in shares of Roku, Inc. (NASDAQ:ROKU - Free Report) by 4.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 232,600 shares of the company's stock after selling 12,000 shares during the period. Canada Pension Plan Investment Board owned 0.16% of Roku worth $17,291,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in ROKU. Geneos Wealth Management Inc. boosted its position in Roku by 369.9% during the fourth quarter. Geneos Wealth Management Inc. now owns 343 shares of the company's stock worth $25,000 after purchasing an additional 270 shares during the period. Vision Financial Markets LLC bought a new position in Roku in the 4th quarter worth $30,000. Game Plan Financial Advisors LLC acquired a new position in Roku during the 4th quarter worth $37,000. Harvest Fund Management Co. Ltd grew its position in shares of Roku by 4,091.7% in the fourth 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 during the last quarter. Finally, Allianz SE acquired a new position in shares of Roku during the 4th quarter worth about $39,000. Institutional investors own 86.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on ROKU shares. Piper Sandler assumed coverage on shares of Roku in a report on Thursday, April 17th. They set a "neutral" rating and a $65.00 price objective on the stock. JPMorgan Chase & Co. decreased their price objective on Roku from $115.00 to $75.00 and set an "overweight" rating on the stock in a report on Tuesday. Jefferies Financial Group raised Roku from an "underperform" rating to a "hold" rating and raised their target price for the stock from $55.00 to $100.00 in a research report on Thursday, February 20th. Rosenblatt Securities reaffirmed a "neutral" rating and set a $86.00 price objective on shares of Roku in a report on Thursday, February 13th. Finally, Compass Point initiated coverage on shares of Roku in a research note on Sunday, March 23rd. They issued a "buy" rating on the stock. One research analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $92.37.

Roku Price Performance

NASDAQ ROKU traded up $0.06 during trading hours on Tuesday, reaching $59.23. 3,478,433 shares of the stock traded hands, compared to its average volume of 3,802,144. The stock has a 50 day simple moving average of $73.56 and a two-hundred day simple moving average of $75.92. Roku, Inc. has a 1 year low of $48.33 and a 1 year high of $104.96. The company has a market cap of $8.64 billion, a price-to-earnings ratio of -66.55 and a beta of 2.17.

Roku (NASDAQ:ROKU - Get Free Report) last released its earnings results on Thursday, February 13th. The company reported ($0.24) EPS for the quarter, beating the consensus estimate 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 company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.15 billion. On average, sell-side analysts forecast that Roku, Inc. will post -0.3 EPS for the current fiscal year.

Insider Buying and Selling at Roku

In related news, CEO Anthony J. Wood sold 4,600 shares of the stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $75.00, for a total value of $345,000.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Dan Jedda sold 5,000 shares of the company's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $100.40, for a total value of $502,000.00. Following the transaction, the chief financial officer now owns 58,555 shares in the company, valued at $5,878,922. This trade represents a 7.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 71,905 shares of company stock valued at $6,560,876 in the last 90 days. Insiders own 13.98% of the company's stock.

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.