Connor Clark & Lunn Investment Management Ltd. Trims Stock Position in Roku, Inc. $ROKU

Connor Clark & Lunn Investment Management Ltd. decreased its position in Roku, Inc. (NASDAQ:ROKU) by 69.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 256,399 shares of the company’s stock after selling 592,337 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.17% of Roku worth $25,673,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in ROKU. Westfuller Advisors LLC purchased a new stake in shares of Roku during the 3rd quarter valued at approximately $30,000. Root Financial Partners LLC purchased a new position in Roku in the third quarter worth approximately $33,000. Rakuten Securities Inc. grew its position in Roku by 55.6% in the second quarter. Rakuten Securities Inc. now owns 442 shares of the company’s stock worth $39,000 after acquiring an additional 158 shares during the period. Cornerstone Planning Group LLC increased its stake in Roku by 20,450.0% during the third quarter. Cornerstone Planning Group LLC now owns 411 shares of the company’s stock worth $41,000 after acquiring an additional 409 shares during the last quarter. Finally, Lion Street Advisors LLC acquired a new stake in Roku during the third quarter worth $70,000. Institutional investors and hedge funds own 86.30% of the company’s stock.

Analyst Upgrades and Downgrades

ROKU has been the topic of several recent analyst reports. KeyCorp upped their price target on Roku from $128.00 to $130.00 and gave the company an “overweight” rating in a research note on Friday, February 13th. Rosenblatt Securities upgraded shares of Roku from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $106.00 to $118.00 in a report on Friday, February 13th. Guggenheim increased their target price on shares of Roku from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, December 4th. Wall Street Zen upgraded shares of Roku from a “hold” rating to a “buy” rating in a research report on Sunday, December 7th. Finally, UBS Group reissued a “neutral” rating and issued a $110.00 price target on shares of Roku in a research note on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $125.40.

Roku Trading Down 5.9%

ROKU stock opened at $94.80 on Friday. The business’s fifty day moving average price is $98.38 and its 200 day moving average price is $99.72. Roku, Inc. has a 12-month low of $52.43 and a 12-month high of $116.66. The company has a market capitalization of $13.98 billion, a PE ratio of 166.32 and a beta of 1.98.

Roku (NASDAQ:ROKU) last announced its earnings results on Thursday, February 12th. The company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.25. The company had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.35 billion. Roku had a return on equity of 3.40% and a net margin of 1.87%.Roku’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same period last year, the business posted ($0.24) EPS. Research analysts predict that Roku, Inc. will post -0.3 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Dan Jedda sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $107.56, for a total value of $322,680.00. Following the completion of the transaction, the chief financial officer owned 87,267 shares of the company’s stock, valued at approximately $9,386,438.52. This trade represents a 3.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Gilbert Fuchsberg sold 3,250 shares of Roku stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $95.57, for a total transaction of $310,602.50. Following the completion of the transaction, the insider owned 60,456 shares of the company’s stock, valued at $5,777,779.92. This trade represents a 5.10% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 201,124 shares of company stock valued at $20,342,748. 13.98% of the stock is owned by company insiders.

Trending Headlines about Roku

Here are the key news stories impacting Roku this week:

• Positive Sentiment: Roku secured exclusive streaming rights to a new X Games League, expanding live-sports content that can drive viewership and ad revenue. Roku gets exclusive streaming rights to new X Games League
• Positive Sentiment: Product updates aimed at engagement: Roku launched Roklue (an interactive trivia experience) and added a dedicated Live TV search to improve discovery — both are designed to increase time spent on-platform and ad inventory monetization. Roku Engagement Push With Roklue And Live TV Search Meets Valuation Gap
• Positive Sentiment: Roku continues to broaden free local-TV streaming options on its platform, which can attract more active users and increase ad exposure. Live local TV is now easier than ever to stream for free on Roku
• Positive Sentiment: Retail promotions: Roku Smart TVs are seeing aggressive price cuts (lowest-ever Amazon deal; 40″ model priced below smaller models), which should help device attach and expand the active user base over time. The Roku Smart TV is down to its lowest-ever price at Amazon — save $20 right now Roku’s 40-Inch Smart TV Is Cheaper Than the 32-Inch Model
• Positive Sentiment: Analyst/market attention is picking up: Roku was featured in bullish coverage pieces (e.g., “Bull of the Day,” Zacks mentions) and in a list of beaten-down streaming names worth watching — these can support interest from value-focused investors. Bull of the Day: Roku (ROKU) 3 Beaten-Down Streaming and Media Stocks Worth Watching: AMCX, ROKU, SE
• Neutral Sentiment: Coverage repetition and headline-driven interest may spur short-term volume but doesn’t guarantee sustained share gains without continued monetization improvements. 3 Beaten-Down Streaming and Media Stocks Worth Watching: AMCX, ROKU, SE (alternate link)
• Negative Sentiment: Insider sell: CEO Anthony J. Wood sold 50,000 shares at an average $99.68 (~$5.0M), a move investors often view as a near-term negative signal even if sales are for diversification/liquidity. SEC Form 4 — Anthony J. Wood sale

Roku Profile

Roku, Inc (NASDAQ: ROKU) is a technology company that develops and operates a proprietary streaming platform designed to deliver entertainment content to consumers via internet-connected devices and smart televisions. Since its inception in 2002 in California, Roku has focused on simplifying access to streaming services for viewers worldwide. The company’s platform enables users to discover, access and manage a wide array of over-the-top content from major streaming services, free ad-supported channels and niche providers.

At the core of Roku’s product lineup are a range of streaming players and sticks, which connect to televisions via HDMI and deliver the Roku OS experience.