Teacher Retirement System of Texas Takes Position in Roku, Inc. (NASDAQ:ROKU)

Teacher Retirement System of Texas bought a new stake in shares of Roku, Inc. (NASDAQ:ROKU - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 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 made changes to their positions in ROKU. Garde Capital Inc. bought a new stake in Roku in the 1st quarter worth approximately $25,000. Golden State Wealth Management LLC lifted its stake 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 purchasing an additional 247 shares in the last quarter. Princeton Global Asset Management LLC purchased a new stake in Roku in the 1st quarter worth $35,000. First PREMIER Bank purchased a new stake in shares of Roku during the 1st quarter valued at about $35,000. Finally, Harvest Fund Management Co. Ltd raised its position in shares of Roku by 4,091.7% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 503 shares of the company's stock valued at $37,000 after buying an additional 491 shares in the last quarter. Institutional investors own 86.30% of the company's stock.

Roku Stock Performance

NASDAQ ROKU traded up $1.73 during trading hours on Thursday, reaching $90.36. The company's stock had a trading volume of 2,015,386 shares, compared to its average volume of 3,984,490. Roku, Inc. has a fifty-two week low of $48.33 and a fifty-two week high of $104.96. The stock has a market cap of $13.19 billion, a PE ratio of -123.73 and a beta of 2.12. The company's 50-day moving average is $75.78 and its two-hundred day moving average is $75.51.

Roku (NASDAQ:ROKU - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported ($0.19) earnings per share (EPS) 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 business had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.01 billion. During the same period last year, the company earned ($0.35) earnings per share. The company's quarterly revenue was up 15.8% on a year-over-year basis. Equities analysts expect that Roku, Inc. will post -0.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ROKU has been the topic of several analyst reports. Citigroup reiterated a "neutral" rating and set a $84.00 price target (up from $68.00) on shares of Roku in a report on Wednesday, June 18th. Bank of America increased their price objective on shares of Roku from $100.00 to $110.00 and gave the company a "buy" rating in a research note on Thursday, July 3rd. Redburn Atlantic upgraded shares of Roku from a "neutral" rating to a "buy" rating and set a $100.00 price objective on the stock in a research note on Monday, April 7th. Needham & Company LLC raised their price target on shares of Roku from $88.50 to $100.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, Compass Point began coverage on shares of Roku in a research report on Sunday, March 23rd. They issued a "buy" rating on the stock. One analyst has rated the stock with a sell rating, seven have given a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $92.67.

Insider Activity at Roku

In other news, CEO Anthony J. Wood sold 25,000 shares of the business's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $80.27, for a total transaction of $2,006,750.00. Following the completion of the transaction, the chief executive officer owned 11,953 shares of the company's stock, valued at approximately $959,467.31. The trade was a 67.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Mai Fyfield sold 914 shares of Roku stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $78.50, for a total transaction of $71,749.00. Following the sale, the director owned 4,374 shares in the company, valued at approximately $343,359. This represents a 17.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 64,020 shares of company stock valued at $4,979,594. 13.98% of the stock is currently owned by corporate insiders.

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.