Mackenzie Financial Corp Sells 6,527 Shares of Roku, Inc. (NASDAQ:ROKU)

Mackenzie Financial Corp lowered its stake in shares of Roku, Inc. (NASDAQ:ROKUGet Rating) by 29.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,969 shares of the company’s stock after selling 6,527 shares during the period. Mackenzie Financial Corp’s holdings in Roku were worth $1,312,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Brighton Jones LLC raised its position in shares of Roku by 8.6% during the first quarter. Brighton Jones LLC now owns 1,874 shares of the company’s stock worth $235,000 after purchasing an additional 148 shares during the period. Quadrant Capital Group LLC raised its holdings in shares of Roku by 31.6% during the first quarter. Quadrant Capital Group LLC now owns 625 shares of the company’s stock worth $78,000 after acquiring an additional 150 shares during the period. Zullo Investment Group Inc. increased its holdings in Roku by 150.0% during the 1st quarter. Zullo Investment Group Inc. now owns 250 shares of the company’s stock worth $31,000 after purchasing an additional 150 shares in the last quarter. IHT Wealth Management LLC boosted its position in shares of Roku by 4.0% during the first quarter. IHT Wealth Management LLC now owns 4,060 shares of the company’s stock worth $509,000 after buying an additional 157 shares during the period. Finally, Advisors Asset Management Inc. grew its holdings in shares of Roku by 8.5% during the first quarter. Advisors Asset Management Inc. now owns 2,222 shares of the company’s stock worth $278,000 after buying an additional 175 shares in the last quarter. 66.86% of the stock is currently owned by institutional investors and hedge funds.

Roku Stock Performance

Shares of NASDAQ ROKU opened at $56.51 on Thursday. The stock has a market capitalization of $7.87 billion, a P/E ratio of -32.85 and a beta of 1.67. The stock’s fifty day moving average is $56.60 and its 200 day moving average is $73.90. Roku, Inc. has a 52 week low of $44.50 and a 52 week high of $266.05.

Roku (NASDAQ:ROKUGet Rating) last released its earnings results on Wednesday, November 2nd. The company reported ($0.88) EPS for the quarter, beating the consensus estimate of ($1.37) by $0.49. The firm had revenue of $761.37 million for the quarter, compared to analyst estimates of $698.93 million. Roku had a negative net margin of 7.59% and a negative return on equity of 8.50%. Equities research analysts forecast that Roku, Inc. will post -3.65 earnings per share for the current year.

Insider Activity

In related news, SVP Stephen H. Kay sold 1,469 shares of the firm’s stock in a transaction dated Wednesday, November 16th. The stock was sold at an average price of $56.46, for a total value of $82,939.74. Following the sale, the senior vice president now directly owns 81,290 shares of the company’s stock, valued at $4,589,633.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Roku news, SVP Stephen H. Kay sold 1,469 shares of the stock in a transaction dated Wednesday, November 16th. The stock was sold at an average price of $56.46, for a total value of $82,939.74. Following the completion of the transaction, the senior vice president now directly owns 81,290 shares in the company, valued at $4,589,633.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gidon Katz sold 7,010 shares of Roku stock in a transaction that occurred on Wednesday, November 16th. The stock was sold at an average price of $56.46, for a total transaction of $395,784.60. Following the sale, the insider now owns 13,917 shares in the company, valued at $785,753.82. The disclosure for this sale can be found here. Corporate insiders own 13.79% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on ROKU. Wedbush reduced their price target on Roku from $85.00 to $75.00 and set an “outperform” rating for the company in a research report on Monday, October 31st. Morgan Stanley cut their price target on shares of Roku from $50.00 to $45.00 and set an “underweight” rating on the stock in a research report on Thursday, November 3rd. Oppenheimer raised their price objective on Roku from $58.00 to $70.00 in a report on Friday, November 18th. Moffett Nathanson lowered Roku from a “market perform” rating to an “underperform” rating and set a $62.00 target price on the stock. in a report on Wednesday, August 10th. Finally, Jefferies Financial Group assumed coverage on Roku in a research note on Friday, November 11th. They issued a “hold” rating and a $45.00 price target for the company. Seven investment analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Roku has a consensus rating of “Hold” and an average target price of $91.35.

Roku Company Profile

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Roku, Inc, together with its subsidiaries, operates a TV streaming platform. The company operates in two segments, Platform and Player. Its platform allows users to discover and access various movies and TV episodes, as well as live TV, news sports, shows, and others. As of December 31, 2021, the company had 60.1 million active accounts.

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Institutional Ownership by Quarter for Roku (NASDAQ:ROKU)

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