Mackenzie Financial Corp Sells 9,071 Shares of Roku, Inc. (NASDAQ:ROKU)

Mackenzie Financial Corp trimmed its holdings in shares of Roku, Inc. (NASDAQ:ROKU - Free Report) by 55.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,254 shares of the company's stock after selling 9,071 shares during the quarter. Mackenzie Financial Corp's holdings in Roku were worth $539,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Farther Finance Advisors LLC increased its position 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 acquiring an additional 121 shares during the period. Cerity Partners LLC increased its position in Roku by 0.5% during the fourth 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 increased its position in Roku by 1.1% during the fourth 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 increased its position in Roku by 5.2% during the fourth 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, Allworth Financial LP increased its position in Roku by 52.8% during the fourth quarter. Allworth Financial LP now owns 634 shares of the company's stock worth $50,000 after acquiring an additional 219 shares during the period. 86.30% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ROKU shares. Wells Fargo & Company lowered their price target on shares of Roku from $129.00 to $93.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. Wedbush decreased their target price on shares of Roku from $125.00 to $100.00 and set an "outperform" rating on the stock in a report on Monday, April 28th. Rosenblatt Securities decreased their target price on shares of Roku from $100.00 to $75.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Loop Capital decreased their target price on shares of Roku from $90.00 to $80.00 and set a "hold" rating on the stock in a report on Friday, May 2nd. Finally, JPMorgan Chase & Co. raised their target price on shares of Roku from $75.00 to $85.00 and gave the company an "overweight" rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, eight have given a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $88.37.

Roku Trading Up 5.3%

NASDAQ:ROKU traded up $3.95 during mid-day trading on Friday, hitting $78.55. 5,681,412 shares of the company's stock were exchanged, compared to its average volume of 3,830,156. The company has a 50 day simple moving average of $65.61 and a 200-day simple moving average of $74.44. Roku, Inc. has a fifty-two week low of $48.33 and a fifty-two week high of $104.96. The firm has a market capitalization of $11.46 billion, a P/E ratio of -88.26 and a beta of 2.06.

Roku (NASDAQ:ROKU - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.08. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same period last year, the company earned ($0.35) EPS. The firm's revenue was up 15.8% compared to the same quarter last year. As a group, analysts expect that Roku, Inc. will post -0.3 earnings per share for the current year.

Insider Transactions at Roku

In other news, CAO Matthew C. Banks sold 629 shares of Roku stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $72.98, for a total value of $45,904.42. Following the completion of the sale, the chief accounting officer now owns 8,555 shares in the company, valued at $624,343.90. The trade was a 6.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Dan Jedda sold 1,000 shares of Roku stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $75.00, for a total transaction of $75,000.00. Following the completion of the sale, the chief financial officer now owns 68,843 shares of the company's stock, valued at $5,163,225. This represents a 1.43% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,823 shares of company stock worth $2,908,615. Company insiders own 13.98% of the company's stock.

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.