Cibc World Markets Corp Decreases Stock Position in Roku, Inc. (NASDAQ:ROKU)

Cibc World Markets Corp cut its holdings in Roku, Inc. (NASDAQ:ROKU) by 22.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,763 shares of the company’s stock after selling 1,635 shares during the period. Cibc World Markets Corp’s holdings in Roku were worth $428,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Geneos Wealth Management Inc. boosted its position in shares of Roku by 369.9% in the 4th quarter. Geneos Wealth Management Inc. now owns 343 shares of the company’s stock worth $25,000 after buying an additional 270 shares in the last quarter. Vision Financial Markets LLC purchased a new stake in shares of Roku in the 4th quarter worth about $30,000. Raelipskie Partnership purchased a new stake in shares of Roku in the 3rd quarter worth about $32,000. Game Plan Financial Advisors LLC purchased a new stake in shares of Roku in the 4th quarter worth about $37,000. Finally, Farther Finance Advisors LLC boosted its position in shares of Roku by 23.9% in the 4th quarter. Farther Finance Advisors LLC now owns 627 shares of the company’s stock worth $47,000 after buying an additional 121 shares in the last quarter. 86.30% of the stock is currently owned by hedge funds and other institutional investors.

Roku Stock Performance

ROKU opened at $78.29 on Monday. The firm has a 50 day moving average price of $80.89 and a 200 day moving average price of $77.32. The company has a market cap of $11.43 billion, a PE ratio of -87.97 and a beta of 2.12. Roku, Inc. has a 1 year low of $48.33 and a 1 year high of $104.96.

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

Insider Buying and Selling at Roku

In other Roku news, CFO Dan Jedda sold 1,000 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 63,555 shares of the company’s stock, valued at $4,905,174.90. This trade represents a 1.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $79.77, for a total transaction of $1,994,250.00. Following the completion of the sale, the chief executive officer now directly owns 26,538 shares of the company’s stock, valued at $2,116,936.26. This trade represents a 48.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 97,908 shares of company stock valued at $8,633,436 over the last 90 days. 13.98% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Citizens Jmp upgraded shares of Roku to a “strong-buy” rating in a report on Tuesday, January 21st. Rosenblatt Securities restated a “neutral” rating and issued a $86.00 target price on shares of Roku in a report on Thursday, February 13th. Compass Point assumed coverage on shares of Roku in a report on Sunday. They issued a “buy” rating on the stock. Pivotal Research upgraded shares of Roku from a “hold” rating to a “buy” rating and upped their target price for the company from $65.00 to $125.00 in a report on Friday, February 14th. Finally, Wells Fargo & Company upgraded shares of Roku from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $74.00 to $129.00 in a report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Roku presently has an average rating of “Moderate Buy” and a consensus target price of $96.71.

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.