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

Connor Clark & Lunn Investment Management Ltd. trimmed its stake in shares of Roku, Inc. (NASDAQ:ROKU) by 69.8% in the 3rd quarter, HoldingsChannel reports. 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.’s holdings in Roku were worth $25,673,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of ROKU. Westfuller Advisors LLC acquired a new stake in Roku in the 3rd quarter valued at about $30,000. Root Financial Partners LLC acquired a new position in shares of Roku during the third quarter worth about $33,000. Cornerstone Planning Group LLC increased its stake in shares of 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 buying an additional 409 shares during the period. Rakuten Securities Inc. increased its stake in shares of Roku by 55.6% during the second quarter. Rakuten Securities Inc. now owns 442 shares of the company’s stock worth $39,000 after buying an additional 158 shares during the period. Finally, Lion Street Advisors LLC acquired a new stake in Roku in the third quarter valued at approximately $70,000. Hedge funds and other institutional investors own 86.30% of the company’s stock.

Roku Trading Down 5.9%

ROKU stock opened at $94.80 on Friday. The stock has a market cap of $13.98 billion, a P/E ratio of 166.32 and a beta of 1.98. Roku, Inc. has a twelve month low of $52.43 and a twelve month high of $116.66. The company’s 50 day moving average is $98.38 and its two-hundred day moving average is $99.72.

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

Insider Transactions at Roku

In other Roku news, CEO Anthony J. Wood sold 50,000 shares of the company’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $99.68, for a total value of $4,984,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Christopher T. Handman sold 2,999 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $95.57, for a total value of $286,614.43. Following the transaction, the senior vice president directly owned 2,999 shares in the company, valued at approximately $286,614.43. The trade was a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 201,124 shares of company stock valued at $20,342,748 over the last quarter. 13.98% of the stock is owned by corporate insiders.

Roku News Summary

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

Analyst Ratings Changes

Several research analysts have commented on the stock. Piper Sandler reiterated an “overweight” rating and set a $140.00 price target (up from $135.00) on shares of Roku in a report on Friday, February 13th. Morgan Stanley set a $135.00 price objective on shares of Roku and gave the company an “overweight” rating in a report on Tuesday, December 16th. Wells Fargo & Company lifted their price objective on shares of Roku from $116.00 to $137.00 and gave the stock an “overweight” rating in a research report on Friday, February 13th. Oppenheimer boosted their target price on shares of Roku from $105.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, February 13th. Finally, Bank of America raised their price target on Roku from $115.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, January 12th. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $125.40.

Roku Company 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.