Zurcher Kantonalbank Zurich Cantonalbank Raises Position in Roku, Inc. (NASDAQ:ROKU)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Roku, Inc. (NASDAQ:ROKU) by 19.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,413 shares of the company’s stock after purchasing an additional 3,829 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Roku were worth $2,146,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of ROKU. CWM LLC raised its stake in shares of Roku by 26.0% in the third quarter. CWM LLC now owns 8,140 shares of the company’s stock worth $575,000 after purchasing an additional 1,679 shares during the last quarter. DnB Asset Management AS raised its stake in shares of Roku by 9.8% in the third quarter. DnB Asset Management AS now owns 20,300 shares of the company’s stock worth $1,433,000 after purchasing an additional 1,812 shares during the last quarter. HB Wealth Management LLC raised its stake in shares of Roku by 10.3% in the third quarter. HB Wealth Management LLC now owns 4,266 shares of the company’s stock worth $301,000 after purchasing an additional 397 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Roku in the third quarter worth approximately $1,536,000. Finally, Meridian Wealth Management LLC purchased a new stake in shares of Roku in the third quarter worth approximately $234,000. 86.30% of the stock is owned by hedge funds and other institutional investors.

Roku Price Performance

NASDAQ:ROKU opened at $61.74 on Wednesday. The company has a market cap of $8.86 billion, a P/E ratio of -12.30 and a beta of 1.66. The stock’s fifty day moving average price is $64.33 and its two-hundred day moving average price is $78.82. Roku, Inc. has a 1 year low of $51.62 and a 1 year high of $108.84.

Roku (NASDAQ:ROKU) last posted its earnings results on Thursday, February 15th. The company reported ($0.55) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.65) by $0.10. The firm had revenue of $984.40 million for the quarter, compared to the consensus estimate of $967.72 million. Roku had a negative return on equity of 29.21% and a negative net margin of 20.36%. The business’s quarterly revenue was up 13.5% on a year-over-year basis. During the same quarter in the prior year, the business posted ($1.70) earnings per share. On average, analysts expect that Roku, Inc. will post -2.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Jeffrey M. Blackburn bought 8,000 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were purchased at an average price of $63.96 per share, for a total transaction of $511,680.00. Following the completion of the transaction, the director now directly owns 8,000 shares in the company, valued at approximately $511,680. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Roku news, Director Jeffrey M. Blackburn acquired 8,000 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were bought at an average price of $63.96 per share, for a total transaction of $511,680.00. Following the completion of the transaction, the director now owns 8,000 shares of the company’s stock, valued at approximately $511,680. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $98.64, for a total value of $2,466,000.00. Following the completion of the sale, the chief executive officer now owns 141,221 shares in the company, valued at approximately $13,930,039.44. The disclosure for this sale can be found here. Insiders have sold a total of 54,545 shares of company stock worth $4,364,035 over the last 90 days. Corporate insiders own 13.63% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ROKU. Wedbush reduced their target price on Roku from $120.00 to $80.00 and set an “outperform” rating for the company in a report on Friday, April 19th. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 target price on shares of Roku in a report on Wednesday, February 21st. Pivotal Research reduced their target price on Roku from $85.00 to $75.00 and set a “hold” rating for the company in a report on Friday, February 16th. Morgan Stanley reduced their target price on Roku from $65.00 to $60.00 and set an “underweight” rating for the company in a report on Friday, April 5th. Finally, Citigroup reduced their target price on Roku from $110.00 to $75.00 and set a “neutral” rating for the company in a report on Wednesday, February 21st. Five research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $84.76.

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.