Investment Management Corp of Ontario Reduces Position in Roku, Inc. (NASDAQ:ROKU)

Investment Management Corp of Ontario lessened its position in shares of Roku, Inc. (NASDAQ:ROKU) by 16.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,558 shares of the company’s stock after selling 700 shares during the quarter. Investment Management Corp of Ontario’s holdings in Roku were worth $265,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its position in Roku by 23.9% during the 4th quarter. Farther Finance Advisors LLC now owns 627 shares of the company’s stock worth $47,000 after acquiring an additional 121 shares during the period. Cerity Partners LLC lifted its position in Roku by 0.5% during the 4th quarter. Cerity Partners LLC now owns 26,679 shares of the company’s stock worth $1,984,000 after acquiring an additional 145 shares during the period. Richard W. Paul & Associates LLC lifted its position in Roku by 1.1% during the 4th quarter. Richard W. Paul & Associates LLC now owns 15,997 shares of the company’s stock worth $1,189,000 after acquiring an additional 177 shares during the period. CIBC Asset Management Inc lifted its position in Roku by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 3,859 shares of the company’s stock worth $287,000 after acquiring an additional 191 shares during the period. Finally, PFG Investments LLC lifted its position in Roku by 4.9% during the 4th quarter. PFG Investments LLC now owns 4,361 shares of the company’s stock worth $324,000 after acquiring an additional 204 shares during the period. Hedge funds and other institutional investors own 86.30% of the company’s stock.

Roku Price Performance

NASDAQ ROKU opened at $71.40 on Wednesday. Roku, Inc. has a 1-year low of $48.33 and a 1-year high of $104.96. The company has a market capitalization of $10.42 billion, a P/E ratio of -80.22 and a beta of 2.06. The business has a 50 day moving average price of $66.17 and a 200 day moving average price of $74.55.

Roku (NASDAQ:ROKU) last released its quarterly earnings results on Thursday, May 1st. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.08. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. Roku had a negative return on equity of 5.34% and a negative net margin of 3.15%. Roku’s revenue was up 15.8% compared to the same quarter last year. During the same quarter last year, the business posted ($0.35) earnings per share. On average, research analysts expect that Roku, Inc. will post -0.3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ROKU has been the subject of several recent analyst reports. Moffett Nathanson raised Roku from a “sell” rating to a “neutral” rating and set a $70.00 price target for the company in a report on Tuesday, March 4th. Wells Fargo & Company reduced their price target on Roku from $129.00 to $93.00 and set an “overweight” rating for the company in a report on Monday, April 28th. Pivotal Research reduced their price target on Roku from $125.00 to $100.00 and set a “buy” rating for the company in a report on Friday, May 2nd. Needham & Company LLC reissued a “buy” rating and issued a $88.50 price target on shares of Roku in a report on Monday. Finally, UBS Group reduced their price target on Roku from $90.00 to $72.00 and set a “neutral” rating for the company in a report on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $87.93.

Insiders Place Their Bets

In other Roku news, CEO Anthony J. Wood sold 4,600 shares of the firm’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $75.00, for a total transaction of $345,000.00. Following the completion of the transaction, the chief executive officer now owns 6,243 shares of the company’s stock, valued at approximately $468,225. This trade represents a 42.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Matthew C. Banks sold 1,906 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $80.36, for a total value of $153,166.16. Following the transaction, the chief accounting officer now directly owns 7,256 shares of the company’s stock, valued at $583,092.16. The trade was a 20.80% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 47,111 shares of company stock valued at $4,377,112. Corporate insiders own 13.98% of the company’s stock.

Roku Company 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.