Roku, Inc. $ROKU Stock: Illinois Municipal Retirement Fund Reduces Stake

Illinois Municipal Retirement Fund cut its holdings in shares of Roku, Inc. (NASDAQ:ROKU) by 5.0% during the third quarter, Holdings Channel.com reports. The firm owned 62,757 shares of the company’s stock after selling 3,313 shares during the period. Illinois Municipal Retirement Fund’s holdings in Roku were worth $9,557,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. 55 North Private Wealth LLC raised its stake in Roku by 4.8% in the third quarter. 55 North Private Wealth LLC now owns 1,592 shares of the company’s stock worth $242,000 after buying an additional 73 shares in the last quarter. CX Institutional lifted its holdings in Roku by 44.1% during the third quarter. CX Institutional now owns 281 shares of the company’s stock worth $43,000 after buying an additional 86 shares during the period. Apella Capital LLC boosted its position in Roku by 1.4% during the 3rd quarter. Apella Capital LLC now owns 6,752 shares of the company’s stock valued at $1,031,000 after acquiring an additional 93 shares in the last quarter. Arizona State Retirement System boosted its position in Roku by 0.4% during the 2nd quarter. Arizona State Retirement System now owns 36,069 shares of the company’s stock valued at $4,983,000 after acquiring an additional 142 shares in the last quarter. Finally, Raleigh Capital Management Inc. boosted its position in Roku by 9.6% during the 3rd quarter. Raleigh Capital Management Inc. now owns 1,744 shares of the company’s stock valued at $266,000 after acquiring an additional 153 shares in the last quarter. 86.30% of the stock is owned by hedge funds and other institutional investors.

Recent Roku Headlines

These are some of the ROKU headlines that stood out recently:

• Positive Sentiment: Roku is ending its smart-home product business after about four years to concentrate resources on streaming. A tighter focus could support execution in its core market, though the articles provide no estimate of cost savings or business impact. Roku is dumping its smart home products to refocus on streaming
• Neutral Sentiment: Several reports say Fox has purchased Roku. The headlines do not specify transaction terms or what the deal means for shareholders, so its financial implications cannot be assessed from the available information. Fox owns Roku now: Here’s what to expect
• Neutral Sentiment: Wedbush dropped coverage of Roku. This is not, by itself, a rating downgrade or a change to an earnings forecast. Wedbush Drops Coverage on Roku

Roku Stock Down 0.5%

NASDAQ ROKU opened at $159.65 on Friday. The firm has a market cap of $23.69 billion, a PE ratio of 47.23 and a beta of 2.12. The company has a 50 day moving average price of $155.55 and a 200 day moving average price of $129.99. Roku, Inc. has a 52 week low of $78.53 and a 52 week high of $163.57.

Roku (NASDAQ:ROKU) last posted its earnings results on Monday, November 2nd. The company reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.65. The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Roku had a net margin of 9.34% and a return on equity of 18.65%. Roku’s revenue for the quarter was up 24.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.16 earnings per share. On average, equities research analysts anticipate that Roku, Inc. will post 3.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Gilbert Fuchsberg sold 4,824 shares of the company’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $155.64, for a total transaction of $750,807.36. Following the transaction, the insider directly owned 40,168 shares of the company’s stock, valued at approximately $6,251,747.52. This represents a 10.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Christopher Handman sold 2,999 shares of the stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $155.64, for a total value of $466,764.36. Following the sale, the senior vice president owned 8,997 shares of the company’s stock, valued at approximately $1,400,293.08. This represents a 25.00% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 88,028 shares of company stock valued at $13,645,922. 13.45% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. UBS Group lifted their price target on Roku from $126.00 to $172.00 and gave the company a “neutral” rating in a report on Friday, August 7th. Guggenheim cut Roku from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $145.00 to $160.00 in a research note on Friday, August 7th. Seaport Research Partners cut Roku from a “buy” rating to a “neutral” rating in a research note on Friday, August 7th. Fox Advisors set a $157.00 price objective on Roku in a research report on Friday, July 17th. Finally, Citigroup raised their price objective on Roku from $120.00 to $157.00 and gave the company a “neutral” rating in a research report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seventeen have given a Hold rating to the stock. Based on data from MarketBeat.com, Roku has an average rating of “Hold” and an average price target of $156.22.

Roku Profile

Roku, Inc. provides a streaming platform that connects viewers with television and other digital video content. Its products include streaming players and Roku-branded televisions, as well as the Roku operating system, which the company licenses to television manufacturers. Roku also operates a platform business that supports streaming services and advertisers. Its offerings include the Roku Channel, an ad-supported streaming service, and tools for distributing content and delivering advertising to viewers.