New York State Common Retirement Fund Sells 4,400 Shares of Roku, Inc. (NASDAQ:ROKU)

New York State Common Retirement Fund lowered its stake in Roku, Inc. (NASDAQ:ROKU - Free Report) by 6.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,163 shares of the company's stock after selling 4,400 shares during the period. New York State Common Retirement Fund's holdings in Roku were worth $4,238,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of ROKU. Garde Capital Inc. acquired a new position in Roku during the first quarter worth $25,000. Golden State Wealth Management LLC grew its holdings in Roku by 125.4% in the 1st quarter. Golden State Wealth Management LLC now owns 444 shares of the company's stock worth $31,000 after buying an additional 247 shares in the last quarter. Princeton Global Asset Management LLC bought a new position in Roku during the 1st quarter valued at $35,000. First PREMIER Bank acquired a new stake in shares of Roku during the 1st quarter valued at $35,000. Finally, Harvest Fund Management Co. Ltd lifted its holdings in shares of Roku by 4,091.7% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 503 shares of the company's stock valued at $37,000 after purchasing an additional 491 shares in the last quarter. Institutional investors and hedge funds own 86.30% of the company's stock.

Insider Buying and Selling at Roku

In other Roku news, CEO Anthony J. Wood sold 25,000 shares of the firm's stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $89.64, for a total transaction of $2,241,000.00. Following the completion of the sale, the chief executive officer directly owned 11,953 shares in the company, valued at approximately $1,071,466.92. This trade represents a 67.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Dan Jedda sold 3,000 shares of the business's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $90.20, for a total value of $270,600.00. Following the completion of the sale, the chief financial officer owned 76,132 shares of the company's stock, valued at approximately $6,867,106.40. This trade represents a 3.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 96,520 shares of company stock valued at $7,898,294. Corporate insiders own 13.98% of the company's stock.

Roku Trading Down 2.3%

Shares of ROKU stock traded down $2.14 during trading hours on Tuesday, hitting $89.55. The company's stock had a trading volume of 2,899,856 shares, compared to its average volume of 3,815,438. The company has a 50 day moving average of $80.28 and a 200 day moving average of $76.26. Roku, Inc. has a 12-month low of $48.33 and a 12-month high of $104.96. The stock has a market cap of $13.07 billion, a PE ratio of -122.67 and a beta of 2.12.

Roku (NASDAQ:ROKU - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.08. Roku had a negative net margin of 2.49% and a negative return on equity of 4.29%. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the prior year, the firm earned ($0.35) EPS. Roku's revenue for the quarter was up 15.8% on a year-over-year basis. As a group, analysts anticipate that Roku, Inc. will post -0.3 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Pivotal Research cut their price target on shares of Roku from $125.00 to $100.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. KeyCorp raised shares of Roku from a "sector weight" rating to an "overweight" rating and set a $115.00 price objective on the stock in a research report on Thursday, July 10th. Needham & Company LLC boosted their price target on shares of Roku from $88.50 to $100.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Guggenheim reiterated a "buy" rating and issued a $100.00 price target on shares of Roku in a research note on Friday, May 2nd. Finally, JPMorgan Chase & Co. upped their price target on shares of Roku from $85.00 to $100.00 and gave the stock an "overweight" rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $93.92.

Roku 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.