CIBC Asset Management Inc Increases Stake in Roku, Inc. (NASDAQ:ROKU)

CIBC Asset Management Inc increased its stake in Roku, Inc. (NASDAQ:ROKU) by 5.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 3,859 shares of the company’s stock after acquiring an additional 191 shares during the period. CIBC Asset Management Inc’s holdings in Roku were worth $287,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC grew its holdings in shares of Roku by 1.7% during the 3rd quarter. FMR LLC now owns 14,570,372 shares of the company’s stock worth $1,087,824,000 after acquiring an additional 244,793 shares during the period. Holocene Advisors LP bought a new stake in shares of Roku during the third quarter valued at approximately $129,015,000. Westfield Capital Management Co. LP grew its stake in Roku by 126.1% in the third quarter. Westfield Capital Management Co. LP now owns 1,535,576 shares of the company’s stock worth $114,646,000 after purchasing an additional 856,401 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Roku by 3.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 955,969 shares of the company’s stock worth $71,373,000 after purchasing an additional 30,038 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its position in Roku by 352.5% during the third quarter. Point72 Asset Management L.P. now owns 651,658 shares of the company’s stock valued at $48,653,000 after buying an additional 507,643 shares during the period. 86.30% of the stock is currently owned by hedge funds and other institutional investors.

Roku Stock Up 2.7 %

Shares of Roku stock opened at $91.24 on Tuesday. Roku, Inc. has a twelve month low of $48.33 and a twelve month high of $104.96. The company’s 50 day moving average is $81.83 and its 200 day moving average is $75.55. The company has a market cap of $13.32 billion, a price-to-earnings ratio of -102.52 and a beta of 2.05.

Roku (NASDAQ:ROKU) last released its quarterly earnings results on Thursday, February 13th. The company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.20. Roku had a negative return on equity of 5.34% and a negative net margin of 3.15%. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Sell-side analysts expect that Roku, Inc. will post -0.3 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Anthony J. Wood sold 25,000 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $82.64, for a total value of $2,066,000.00. Following the completion of the sale, the chief executive officer now directly owns 26,538 shares in the company, valued at $2,193,100.32. This represents a 48.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Dan Jedda sold 1,000 shares of Roku stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $77.18, for a total value of $77,180.00. Following the transaction, the chief financial officer now owns 63,555 shares in the company, valued at $4,905,174.90. This trade represents a 1.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 109,421 shares of company stock valued at $9,660,786. Insiders own 13.98% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Citigroup upped their target price on shares of Roku from $70.00 to $103.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Loop Capital boosted their price objective on shares of Roku from $70.00 to $80.00 and gave the stock a “hold” rating in a research note on Monday, December 9th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $86.00 target price on shares of Roku in a research note on Thursday, February 13th. Morgan Stanley boosted their price target on Roku from $60.00 to $65.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 29th. Finally, Piper Sandler upped their price target on Roku from $60.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, six have given a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $96.00.

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.