Bank of Montreal Can Lowers Stock Position in Roku, Inc. (NASDAQ:ROKU)

Bank of Montreal Can decreased its holdings in Roku, Inc. (NASDAQ:ROKU) by 42.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,422 shares of the company’s stock after selling 31,143 shares during the period. Bank of Montreal Can’s holdings in Roku were worth $3,082,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. ARK Investment Management LLC lifted its position in Roku by 1.3% during the second quarter. ARK Investment Management LLC now owns 12,716,432 shares of the company’s stock valued at $762,096,000 after purchasing an additional 159,785 shares during the last quarter. Westfield Capital Management Co. LP lifted its position in Roku by 126.1% during the third quarter. Westfield Capital Management Co. LP now owns 1,535,576 shares of the company’s stock valued at $114,646,000 after purchasing an additional 856,401 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Roku by 3.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 955,969 shares of the company’s stock valued at $71,373,000 after purchasing an additional 30,038 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Roku by 5.2% during the second quarter. Bank of New York Mellon Corp now owns 500,794 shares of the company’s stock valued at $30,013,000 after purchasing an additional 24,926 shares during the last quarter. Finally, Swiss National Bank lifted its position in Roku by 1.3% during the third quarter. Swiss National Bank now owns 376,800 shares of the company’s stock valued at $28,132,000 after purchasing an additional 5,000 shares during the last quarter. Hedge funds and other institutional investors own 86.30% of the company’s stock.

Insider Activity

In related news, CAO Matthew C. Banks sold 8,693 shares of Roku stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $71.44, for a total value of $621,027.92. Following the completion of the transaction, the chief accounting officer now owns 7,264 shares in the company, valued at approximately $518,940.16. This trade represents a 54.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Charles Collier sold 15,454 shares of Roku stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $75.00, for a total value of $1,159,050.00. Following the completion of the transaction, the insider now owns 200 shares of the company’s stock, valued at approximately $15,000. This represents a 98.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 88,550 shares of company stock worth $6,621,873 over the last ninety days. Corporate insiders own 13.98% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Piper Sandler lifted their target price on shares of Roku from $60.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Guggenheim raised shares of Roku from a “neutral” rating to a “buy” rating and set a $75.00 price target on the stock in a research note on Friday, August 23rd. Loop Capital lifted their price target on shares of Roku from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. Wells Fargo & Company lifted their price target on shares of Roku from $72.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Finally, JPMorgan Chase & Co. lifted their price target on shares of Roku from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $82.62.

Roku Trading Up 9.6 %

Shares of ROKU stock opened at $82.94 on Thursday. Roku, Inc. has a 12 month low of $48.33 and a 12 month high of $108.84. The stock has a market cap of $12.04 billion, a P/E ratio of -69.12 and a beta of 2.06. The company has a 50 day simple moving average of $73.86 and a two-hundred day simple moving average of $65.72.

Roku (NASDAQ:ROKU) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.29. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Roku had a negative return on equity of 7.22% and a negative net margin of 4.42%. The business’s quarterly revenue was up 16.5% on a year-over-year basis. During the same quarter in the prior year, the business posted ($2.33) earnings per share. As a group, equities analysts forecast that Roku, Inc. will post -1.1 earnings per share for the current year.

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.