Teachers Retirement System of The State of Kentucky Sells 4,400 Shares of Roku, Inc. (NASDAQ:ROKU)

Teachers Retirement System of The State of Kentucky reduced its position in shares of Roku, Inc. (NASDAQ:ROKU - Free Report) by 5.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 77,721 shares of the company's stock after selling 4,400 shares during the period. Teachers Retirement System of The State of Kentucky owned about 0.05% of Roku worth $5,475,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kestra Private Wealth Services LLC bought a new stake in Roku in the first quarter valued at approximately $506,000. Fortis Group Advisors LLC boosted its holdings in Roku by 15.0% in the first quarter. Fortis Group Advisors LLC now owns 9,315 shares of the company's stock valued at $656,000 after acquiring an additional 1,217 shares during the last quarter. Cullen Frost Bankers Inc. boosted its holdings in Roku by 9,422.2% in the first quarter. Cullen Frost Bankers Inc. now owns 857 shares of the company's stock valued at $60,000 after acquiring an additional 848 shares during the last quarter. Wealthfront Advisers LLC boosted its holdings in Roku by 9.1% in the first quarter. Wealthfront Advisers LLC now owns 5,634 shares of the company's stock valued at $397,000 after acquiring an additional 472 shares during the last quarter. Finally, Dakota Wealth Management bought a new stake in Roku in the first quarter valued at approximately $2,168,000. 86.30% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on ROKU. KeyCorp raised shares of 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, July 10th. Wedbush reaffirmed an "outperform" rating and set a $100.00 price objective on shares of Roku in a research report on Monday, June 16th. Guggenheim reaffirmed a "buy" rating and set a $100.00 price objective on shares of Roku in a research report on Friday, May 2nd. Redburn Atlantic raised shares of Roku from a "neutral" rating to a "buy" rating and set a $100.00 price objective for the company in a research report on Monday, April 7th. Finally, Benchmark reaffirmed a "buy" rating and set a $130.00 price objective on shares of Roku in a research report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $93.92.

Insider Transactions at Roku

In other news, CAO Matthew C. Banks sold 629 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $72.98, for a total transaction of $45,904.42. Following the transaction, the chief accounting officer directly owned 8,555 shares of the company's stock, valued at approximately $624,343.90. The trade was a 6.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of the business's stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $89.64, for a total value of $2,241,000.00. Following the transaction, the chief executive officer directly owned 11,953 shares in the company, valued at $1,071,466.92. This trade represents a 67.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 96,520 shares of company stock valued at $7,898,294. Insiders own 13.98% of the company's stock.

Roku Trading Down 1.7%

Shares of ROKU opened at $91.69 on Tuesday. The company has a market cap of $13.38 billion, a PE ratio of -125.60 and a beta of 2.12. The stock has a 50-day moving average price of $79.82 and a 200-day moving average price of $76.16. Roku, Inc. has a 12-month low of $48.33 and a 12-month high of $104.96.

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

Roku Company 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.

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