California Public Employees Retirement System Purchases 43,719 Shares of Roku, Inc. (NASDAQ:ROKU)

California Public Employees Retirement System boosted its position in Roku, Inc. (NASDAQ:ROKU – Get Rating) by 21.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 246,000 shares of the company’s stock after buying an additional 43,719 shares during the period. California Public Employees Retirement System owned approximately 0.18% of Roku worth $13,874,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC increased its position in Roku by 8.6% in the 1st quarter. Brighton Jones LLC now owns 1,874 shares of the company’s stock valued at $235,000 after buying an additional 148 shares in the last quarter. IHT Wealth Management LLC increased its holdings in Roku by 4.0% during the 1st quarter. IHT Wealth Management LLC now owns 4,060 shares of the company’s stock worth $509,000 after purchasing an additional 157 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in Roku by 8.5% during the 1st quarter. Advisors Asset Management Inc. now owns 2,222 shares of the company’s stock worth $278,000 after purchasing an additional 175 shares in the last quarter. abrdn plc increased its holdings in Roku by 1.1% during the 2nd quarter. abrdn plc now owns 15,860 shares of the company’s stock worth $1,302,000 after purchasing an additional 176 shares in the last quarter. Finally, Moser Wealth Advisors LLC increased its holdings in Roku by 11.3% during the 2nd quarter. Moser Wealth Advisors LLC now owns 1,812 shares of the company’s stock worth $149,000 after purchasing an additional 184 shares in the last quarter. 66.11% of the stock is owned by institutional investors.

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Roku Stock Performance

Shares of NASDAQ ROKU opened at $56.64 on Wednesday. The company has a market cap of $7.89 billion, a P/E ratio of -32.93 and a beta of 1.80. The firm’s fifty day moving average is $49.90 and its two-hundred day moving average is $58.17. Roku, Inc. has a 52-week low of $38.26 and a 52-week high of $168.60.

Wall Street Analyst Weigh In

A number of brokerages have commented on ROKU. Guggenheim lowered Roku from a “buy” rating to a “neutral” rating in a report on Thursday, November 3rd. Needham & Company LLC restated a “buy” rating and issued a $65.00 target price on shares of Roku in a research note on Thursday, January 26th. Oppenheimer boosted their target price on Roku from $70.00 to $75.00 and gave the stock an “outperform” rating in a research note on Friday, February 10th. Citigroup cut their target price on Roku from $80.00 to $75.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, Rosenblatt Securities downgraded Roku from a “buy” rating to a “neutral” rating and cut their target price for the stock from $100.00 to $51.00 in a research note on Thursday, November 3rd. Six analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Roku has a consensus rating of “Hold” and a consensus target price of $83.96.

Insider Buying and Selling at Roku

In other Roku news, SVP Gilbert Fuchsberg sold 2,040 shares of Roku stock in a transaction on Thursday, December 1st. The shares were sold at an average price of $59.16, for a total value of $120,686.40. Following the sale, the senior vice president now directly owns 32,645 shares in the company, valued at approximately $1,931,278.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 13.79% of the stock is currently owned by insiders.

Roku Profile

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Roku, Inc engages in the provision of a streaming platform for television. It operates through the following business segments: Platform and Player. The Platform segment includes digital advertising and related services including the OneView ad platform, content distribution, and licensing arrangements with service operators and TV brands.

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