Connor Clark & Lunn Investment Management Ltd. Has $44.14 Million Stake in Roku, Inc. (NASDAQ:ROKU)

Connor Clark & Lunn Investment Management Ltd. cut its holdings in shares of Roku, Inc. (NASDAQ:ROKU) by 9.7% during the fourth quarter, Holdings Channel reports. The fund owned 593,789 shares of the company’s stock after selling 63,512 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Roku were worth $44,142,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Avantax Advisory Services Inc. raised its position in shares of Roku by 3.2% in the fourth quarter. Avantax Advisory Services Inc. now owns 11,328 shares of the company’s stock valued at $842,000 after purchasing an additional 352 shares during the period. Jupiter Asset Management Ltd. grew its stake in Roku by 164.5% in the 4th quarter. Jupiter Asset Management Ltd. now owns 506,351 shares of the company’s stock valued at $37,642,000 after buying an additional 314,931 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in Roku by 23.9% in the 4th quarter. Farther Finance Advisors LLC now owns 627 shares of the company’s stock valued at $47,000 after acquiring an additional 121 shares during the period. Clare Market Investments LLC acquired a new stake in Roku during the fourth quarter worth approximately $324,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Roku by 14.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,052 shares of the company’s stock worth $1,937,000 after acquiring an additional 3,367 shares during the period. Institutional investors own 86.30% of the company’s stock.

Roku Stock Up 1.9 %

Shares of Roku stock opened at $70.96 on Thursday. The firm’s 50-day moving average price is $82.05 and its two-hundred day moving average price is $77.07. Roku, Inc. has a 12-month low of $48.33 and a 12-month high of $104.96. The company has a market capitalization of $10.36 billion, a price-to-earnings ratio of -79.73 and a beta of 2.12.

Roku (NASDAQ:ROKU) last posted its quarterly earnings results on Thursday, February 13th. The company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.20. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.15 billion. On average, sell-side analysts expect that Roku, Inc. will post -0.3 earnings per share for the current year.

Insider Activity

In other news, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $79.77, for a total value of $1,994,250.00. Following the sale, the chief executive officer now directly owns 26,538 shares in the company, valued at approximately $2,116,936.26. This trade represents a 48.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Matthew C. Banks sold 1,906 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $80.36, for a total transaction of $153,166.16. Following the completion of the sale, the chief accounting officer now owns 7,256 shares in the company, valued at approximately $583,092.16. The trade was a 20.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 93,308 shares of company stock worth $8,296,166. Corporate insiders own 13.98% of the company’s stock.

Analysts Set New Price Targets

ROKU has been the topic of a number of recent research reports. Jefferies Financial Group upgraded Roku from an “underperform” rating to a “hold” rating and increased their target price for the stock from $55.00 to $100.00 in a research note on Thursday, February 20th. Rosenblatt Securities reiterated a “neutral” rating and set a $86.00 price objective on shares of Roku in a research report on Thursday, February 13th. Moffett Nathanson raised shares of Roku from a “sell” rating to a “neutral” rating and set a $70.00 target price for the company in a research report on Tuesday, March 4th. Robert W. Baird upgraded shares of Roku from a “neutral” rating to an “outperform” rating and upped their price target for the company from $70.00 to $90.00 in a research note on Monday, November 18th. Finally, Loop Capital raised their price target on shares of Roku from $70.00 to $80.00 and gave the stock a “hold” rating in a research report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $96.71.

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.