Healthcare of Ontario Pension Plan Trust Fund Has $3.97 Million Stock Position in Roku, Inc. $ROKU

Key Points

• Healthcare of Ontario Pension Plan Trust Fund increased its Roku stake by 25.7% in the first quarter, owning 42,000 shares valued at approximately $3.97 million. Institutional investors collectively hold 86.3% of Roku’s shares.
• Wall Street’s consensus rating is “Hold”, with 10 analysts rating Roku a Buy and 17 a Hold; the average price target is $155.12. Recent targets range from $155 to $170, while several firms downgraded the stock to Hold or Neutral.
• Roku reported stronger-than-expected quarterly results, with revenue of $1.25 billion, up 22.4% year over year, and EPS of $0.57 versus the $0.34 consensus estimate. However, insiders sold roughly 224,181 shares worth $29 million over the past 90 days.

Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Roku, Inc. (NASDAQ:ROKU - Free Report) by 25.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 42,000 shares of the company's stock after acquiring an additional 8,600 shares during the period. Healthcare of Ontario Pension Plan Trust Fund's holdings in Roku were worth $3,974,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. AQR Capital Management LLC boosted its position in shares of Roku by 275.5% during the third quarter. AQR Capital Management LLC now owns 2,586,125 shares of the company's stock worth $258,897,000 after buying an additional 1,897,407 shares during the period. Arrowstreet Capital Limited Partnership raised its position in Roku by 229.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,038,347 shares of the company's stock valued at $192,868,000 after buying an additional 1,419,772 shares during the last quarter. Fred Alger Management LLC lifted its stake in Roku by 7,087.7% in the 4th quarter. Fred Alger Management LLC now owns 1,421,440 shares of the company's stock valued at $154,212,000 after acquiring an additional 1,401,664 shares in the last quarter. Norges Bank bought a new stake in Roku in the 4th quarter valued at approximately $92,808,000. Finally, Alyeska Investment Group L.P. boosted its position in Roku by 380.9% during the 4th quarter. Alyeska Investment Group L.P. now owns 882,915 shares of the company's stock worth $95,787,000 after acquiring an additional 699,336 shares during the last quarter. 86.30% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Susquehanna downgraded shares of Roku from a "positive" rating to a "neutral" rating and set a $160.00 target price for the company. in a research report on Tuesday, June 16th. Needham & Company LLC boosted their price target on shares of Roku from $140.00 to $170.00 and gave the stock a "buy" rating in a research report on Monday, June 15th. Zacks Research downgraded shares of Roku from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 14th. Seaport Research Partners set a $155.00 price objective on Roku in a report on Tuesday, June 16th. Finally, Jefferies Financial Group downgraded Roku from a "buy" rating to a "hold" rating and set a $160.00 target price on the stock. in a research report on Monday, June 15th. Ten research analysts have rated the stock with a Buy rating and seventeen have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $155.12.

Roku Stock Performance

ROKU opened at $145.09 on Friday. Roku, Inc. has a fifty-two week low of $78.53 and a fifty-two week high of $148.88. The stock has a fifty day moving average of $136.06 and a 200-day moving average of $114.64. The company has a market capitalization of $21.39 billion, a P/E ratio of 109.09 and a beta of 2.01.

Roku (NASDAQ:ROKU - Get Free Report) last released its earnings results on Thursday, April 30th. The company reported $0.57 earnings per share for the quarter, beating analysts' consensus estimates of $0.34 by $0.23. Roku had a return on equity of 7.64% and a net margin of 4.06%.The firm had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the prior year, the company posted ($0.19) EPS. The company's revenue was up 22.4% compared to the same quarter last year. On average, equities research analysts predict that Roku, Inc. will post 2.41 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Mustafa Ozgen sold 10,194 shares of the firm's stock in a transaction on Friday, June 12th. The shares were sold at an average price of $144.00, for a total transaction of $1,467,936.00. Following the completion of the transaction, the insider owned 19,185 shares of the company's stock, valued at approximately $2,762,640. This trade represents a 34.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Dan Jedda sold 7,000 shares of the firm's stock in a transaction on Friday, May 15th. The stock was sold at an average price of $122.56, for a total value of $857,920.00. Following the transaction, the chief financial officer directly owned 71,115 shares of the company's stock, valued at approximately $8,715,854.40. This represents a 8.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 224,181 shares of company stock valued at $29,043,628. 13.45% of the stock is owned by insiders.

Roku Profile

Roku, Inc NASDAQ: ROKU is a technology company that develops and operates a proprietary streaming platform designed to deliver entertainment content to consumers via internet-connected devices and smart televisions. Since its inception in 2002 in California, Roku has focused on simplifying access to streaming services for viewers worldwide. The company's platform enables users to discover, access and manage a wide array of over-the-top content from major streaming services, free ad-supported channels and niche providers.

At the core of Roku's product lineup are a range of streaming players and sticks, which connect to televisions via HDMI and deliver the Roku OS experience.

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