Public Employees Retirement System of Ohio Makes New Investment in Roku, Inc. $ROKU

Public Employees Retirement System of Ohio bought a new stake in shares of Roku, Inc. (NASDAQ:ROKU) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 82,301 shares of the company’s stock, valued at approximately $11,369,000. Public Employees Retirement System of Ohio owned 0.06% of Roku as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of ROKU. Empowered Funds LLC increased its stake in shares of Roku by 18.6% in the first quarter. Empowered Funds LLC now owns 3,291 shares of the company’s stock worth $232,000 after acquiring an additional 515 shares during the last quarter. Focus Partners Wealth acquired a new stake in Roku during the first quarter valued at $229,000. EverSource Wealth Advisors LLC grew its stake in Roku by 145.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,394 shares of the company’s stock valued at $123,000 after purchasing an additional 826 shares in the last quarter. First Trust Advisors LP grew its stake in Roku by 231.0% in the second quarter. First Trust Advisors LP now owns 70,786 shares of the company’s stock valued at $6,221,000 after purchasing an additional 49,399 shares in the last quarter. Finally, Brown Advisory Inc. purchased a new position in Roku in the second quarter valued at about $326,000. 86.30% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Gilbert Fuchsberg sold 10,719 shares of Roku stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $150.00, for a total value of $1,607,850.00. Following the transaction, the insider owned 40,380 shares in the company, valued at $6,057,000. This trade represents a 20.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Charles Collier sold 20,538 shares of the business’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $145.93, for a total transaction of $2,997,110.34. Following the transaction, the insider directly owned 15,200 shares of the company’s stock, valued at approximately $2,218,136. This represents a 57.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 160,452 shares of company stock valued at $21,794,802 in the last three months. Company insiders own 13.45% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on ROKU shares. Piper Sandler lowered Roku from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $148.00 to $160.00 in a report on Tuesday, June 16th. Wedbush cut shares of Roku from an “outperform” rating to a “neutral” rating and set a $155.00 target price for the company. in a research note on Tuesday, June 16th. Evercore downgraded shares of Roku from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 15th. Fox Advisors set a $157.00 price target on shares of Roku in a research note on Friday, July 17th. Finally, Guggenheim lowered shares of Roku from a “buy” rating to a “neutral” rating and increased their price target for the stock from $145.00 to $160.00 in a research note on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and nineteen have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $156.17.

Roku Stock Performance

Shares of ROKU stock opened at $157.68 on Monday. The stock’s 50 day simple moving average is $146.41 and its 200 day simple moving average is $122.54. Roku, Inc. has a twelve month low of $78.53 and a twelve month high of $159.89. The company has a market capitalization of $23.40 billion, a price-to-earnings ratio of 67.38 and a beta of 2.01.

Roku (NASDAQ:ROKU) last announced its earnings results on Wednesday, August 5th. The company reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.47. Roku had a return on equity of 13.73% and a net margin of 6.82%.The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter in the prior year, the business earned $0.07 earnings per share. The company’s revenue was up 21.9% on a year-over-year basis. On average, analysts forecast that Roku, Inc. will post 2.85 EPS for the current fiscal year.

About Roku

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.