Roku, Inc. (NASDAQ:ROKU) Shares Sold by Cibc World Markets Corp

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

A number of other hedge funds have also made changes to their positions in ROKU. Geneos Wealth Management Inc. grew its position in shares of Roku by 369.9% during the fourth 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 acquired a new stake in shares of Roku during the fourth quarter worth approximately $30,000. Raelipskie Partnership bought a new position in Roku during the third quarter worth $32,000. Game Plan Financial Advisors LLC bought a new position in Roku during the fourth quarter worth $37,000. Finally, Farther Finance Advisors LLC lifted its stake in Roku by 23.9% during the fourth quarter. Farther Finance Advisors LLC now owns 627 shares of the company’s stock worth $47,000 after purchasing an additional 121 shares during the last quarter. Institutional investors and hedge funds own 86.30% of the company’s stock.

Analysts Set New Price Targets

ROKU has been the topic of several research analyst reports. Compass Point initiated coverage on Roku in a research note on Sunday. They set a “buy” rating on the stock. Bank of America raised their price objective on Roku from $90.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Benchmark raised their price objective on Roku from $100.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. JMP Securities raised their price objective on Roku from $95.00 to $115.00 and gave the stock a “market outperform” rating in a research note on Friday, February 14th. Finally, UBS Group raised their price objective on Roku from $73.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. One analyst has rated the stock with a sell rating, six have issued a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Roku has a consensus rating of “Moderate Buy” and a consensus price target of $96.71.

Insider Activity

In related news, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $79.77, for a total transaction of $1,994,250.00. Following the transaction, the chief executive officer now directly owns 26,538 shares of the company’s stock, valued at $2,116,936.26. The trade was a 48.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Dan Jedda sold 1,000 shares of Roku stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $75.00, for a total value of $75,000.00. Following the transaction, the chief financial officer now directly owns 68,843 shares in the company, valued at approximately $5,163,225. The trade was a 1.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 97,908 shares of company stock valued at $8,633,436. Company insiders own 13.98% of the company’s stock.

Roku Stock Performance

Shares of ROKU opened at $78.29 on Monday. The firm has a market capitalization of $11.43 billion, a price-to-earnings ratio of -87.97 and a beta of 2.12. Roku, Inc. has a one year low of $48.33 and a one year high of $104.96. The stock’s fifty day moving average is $80.89 and its 200-day moving average is $77.32.

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