California Public Employees Retirement System Acquires 34,490 Shares of Roku, Inc. (NASDAQ:ROKU)

California Public Employees Retirement System grew its holdings in Roku, Inc. (NASDAQ:ROKU) by 18.7% in the 4th quarter, Holdings Channel reports. The fund owned 218,993 shares of the company’s stock after purchasing an additional 34,490 shares during the quarter. California Public Employees Retirement System’s holdings in Roku were worth $20,073,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Gotham Asset Management LLC boosted its position in shares of Roku by 200.3% in the third quarter. Gotham Asset Management LLC now owns 41,128 shares of the company’s stock valued at $2,903,000 after acquiring an additional 27,431 shares during the period. Nordea Investment Management AB raised its stake in shares of Roku by 8.2% in the fourth quarter. Nordea Investment Management AB now owns 7,247 shares of the company’s stock valued at $669,000 after purchasing an additional 551 shares in the last quarter. Barclays PLC raised its stake in shares of Roku by 13.0% in the third quarter. Barclays PLC now owns 215,766 shares of the company’s stock valued at $15,231,000 after purchasing an additional 24,765 shares in the last quarter. Deutsche Bank AG raised its stake in shares of Roku by 27.6% in the third quarter. Deutsche Bank AG now owns 154,729 shares of the company’s stock valued at $10,922,000 after purchasing an additional 33,500 shares in the last quarter. Finally, Vontobel Holding Ltd. raised its stake in shares of Roku by 32.4% in the fourth quarter. Vontobel Holding Ltd. now owns 79,771 shares of the company’s stock valued at $7,312,000 after purchasing an additional 19,543 shares in the last quarter. 86.30% of the stock is owned by institutional investors.

Roku Stock Performance

Shares of NASDAQ:ROKU opened at $56.35 on Monday. Roku, Inc. has a twelve month low of $51.62 and a twelve month high of $108.84. The business has a fifty day moving average of $62.80 and a 200-day moving average of $78.57.

Roku (NASDAQ:ROKU) last posted its quarterly earnings results on Thursday, April 25th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.64) by $0.29. The business had revenue of $881.50 million for the quarter, compared to analysts’ expectations of $843.54 million. Roku had a negative return on equity of 23.73% and a negative net margin of 15.64%. The firm’s quarterly revenue was up 19.0% compared to the same quarter last year. During the same quarter last year, the business earned ($1.38) earnings per share. As a group, research analysts forecast that Roku, Inc. will post -2.12 earnings per share for the current year.

Insider Activity at Roku

In other news, Director Jeffrey M. Blackburn purchased 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were acquired at an average price of $63.96 per share, for a total transaction of $511,680.00. Following the completion of the acquisition, the director now directly owns 8,000 shares in the company, valued at $511,680. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Jeffrey M. Blackburn purchased 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were acquired at an average price of $63.96 per share, for a total transaction of $511,680.00. Following the completion of the acquisition, the director now directly owns 8,000 shares in the company, valued at $511,680. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction dated 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 transaction, 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. Insiders own 13.63% of the company’s stock.

Wall Street Analysts Forecast Growth

ROKU has been the subject of a number of recent research reports. Morgan Stanley cut their target price on Roku from $65.00 to $60.00 and set an “underweight” rating for the company in a research note on Friday, April 5th. Needham & Company LLC restated a “buy” rating and issued a $100.00 target price on shares of Roku in a research note on Friday. Rosenblatt Securities reiterated a “neutral” rating and set a $89.00 price objective on shares of Roku in a research note on Friday. Pivotal Research dropped their price objective on Roku from $85.00 to $75.00 and set a “hold” rating for the company in a research note on Friday, February 16th. Finally, Wells Fargo & Company increased their price objective on Roku from $45.00 to $52.00 and gave the stock an “underweight” rating in a research note on Friday. Four analysts have rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $86.05.

Roku Profile

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.