Teacher Retirement System of Texas Invests $4.97 Million in Roku, Inc. (NASDAQ:ROKU)

Teacher Retirement System of Texas acquired a new position in shares of Roku, Inc. (NASDAQ:ROKU - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 70,485 shares of the company's stock, valued at approximately $4,965,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. FMR LLC grew its holdings in Roku by 31.7% during the fourth quarter. FMR LLC now owns 19,183,942 shares of the company's stock worth $1,426,134,000 after acquiring an additional 4,613,570 shares during the period. Vanguard Group Inc. raised its holdings in Roku by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 12,249,091 shares of the company's stock worth $910,597,000 after purchasing an additional 185,676 shares during the last quarter. Marshall Wace LLP raised its holdings in Roku by 663.9% during the fourth quarter. Marshall Wace LLP now owns 2,335,813 shares of the company's stock worth $173,644,000 after purchasing an additional 2,030,036 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in Roku by 10.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,269,751 shares of the company's stock worth $168,734,000 after purchasing an additional 215,841 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Roku by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 2,147,259 shares of the company's stock worth $159,353,000 after purchasing an additional 56,820 shares during the last quarter. Institutional investors and hedge funds own 86.30% of the company's stock.

Roku Stock Down 1.4%

Shares of Roku stock traded down $1.26 during trading hours on Friday, hitting $88.99. 2,250,377 shares of the company's stock traded hands, compared to its average volume of 3,834,789. The company has a market cap of $12.99 billion, a PE ratio of -121.90 and a beta of 2.12. Roku, Inc. has a twelve month low of $48.33 and a twelve month high of $104.96. The stock has a 50 day simple moving average of $76.24 and a 200-day simple moving average of $75.59.

Roku (NASDAQ:ROKU - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported ($0.19) earnings per share for the quarter, topping 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 company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the business earned ($0.35) EPS. The firm's revenue for the quarter was up 15.8% compared to the same quarter last year. As a group, equities research analysts predict that Roku, Inc. will post -0.3 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently issued reports on ROKU. UBS Group reduced their price objective on Roku from $90.00 to $72.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. JMP Securities reissued a "market outperform" rating and issued a $95.00 price target on shares of Roku in a report on Tuesday, June 17th. Benchmark reaffirmed a "buy" rating and issued a $130.00 price objective on shares of Roku in a research report on Friday, May 2nd. Evercore ISI lowered their price objective on Roku from $105.00 to $80.00 and set an "in-line" rating for the company in a research report on Friday, May 2nd. Finally, KeyCorp raised Roku from a "sector weight" rating to an "overweight" rating and set a $115.00 price objective for the company in a research report on Thursday. One analyst has rated the stock with a sell rating, seven have given a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Roku presently has an average rating of "Moderate Buy" and a consensus target price of $92.67.

Insider Activity

In other Roku news, insider Charles Collier sold 3,590 shares of the company's stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $85.00, for a total transaction of $305,150.00. Following the sale, the insider owned 7,380 shares in the company, valued at $627,300. This represents a 32.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Dan Jedda sold 1,500 shares of the stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $91.00, for a total value of $136,500.00. Following the sale, the chief financial officer owned 79,132 shares in the company, valued at $7,201,012. The trade was a 1.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 90,520 shares of company stock valued at $7,357,094 over the last three months. 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.