76,221 Shares in Roku, Inc. $ROKU Acquired by Boussard & Gavaudan Gestion Sas

Key Points

• Boussard & Gavaudan Gestion Sas acquired 76,221 Roku shares worth approximately $10.5 million, giving the fund a 0.05% stake. Institutional investors collectively own 86.3% of Roku.
• Roku reported stronger-than-expected quarterly results, with earnings of $1.08 per share versus the $0.61 consensus and revenue of $1.35 billion, up 21.9% year over year.
• Roku shares opened at $157.68, near their 12-month high, while analysts’ consensus rating remains “Hold” with a target price of $156.17; insiders have sold more than $22 million in stock over the past three months.

Boussard & Gavaudan Gestion Sas acquired a new stake in Roku, Inc. (NASDAQ:ROKU - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 76,221 shares of the company's stock, valued at approximately $10,499,000. Roku comprises about 0.5% of Boussard & Gavaudan Gestion Sas' portfolio, making the stock its 27th largest position. Boussard & Gavaudan Gestion Sas owned 0.05% of Roku at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Empowered Funds LLC increased its position in shares of Roku by 18.6% during 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 period. Focus Partners Wealth purchased a new position in shares of Roku in the 1st quarter valued at approximately $229,000. EverSource Wealth Advisors LLC lifted its position 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 during the period. First Trust Advisors LP grew its stake in shares of Roku by 231.0% during the 2nd quarter. First Trust Advisors LP now owns 70,786 shares of the company's stock worth $6,221,000 after purchasing an additional 49,399 shares during the period. Finally, Brown Advisory Inc. acquired a new stake in Roku in the second quarter valued at $326,000. Hedge funds and other institutional investors own 86.30% of the company's stock.

Roku Stock Up 0.9%

Roku stock opened at $157.68 on Friday. Roku, Inc. has a 12 month low of $78.53 and a 12 month high of $159.89. The stock has a market cap of $23.40 billion, a price-to-earnings ratio of 67.38 and a beta of 2.01. The business has a 50 day moving average price of $146.41 and a two-hundred day moving average price of $122.30.

Roku (NASDAQ:ROKU - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $1.08 earnings per share for the quarter, beating 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 company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter in the prior year, the business posted $0.07 EPS. The firm's quarterly revenue was up 21.9% on a year-over-year basis. On average, analysts expect that Roku, Inc. will post 2.85 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ROKU has been the subject of several analyst reports. Piper Sandler lowered Roku from an "overweight" rating to a "neutral" rating and upped their target price for the company from $148.00 to $160.00 in a research note on Tuesday, June 16th. Benchmark boosted their target price on shares of Roku from $130.00 to $160.00 and gave the stock a "buy" rating in a research report on Friday, May 1st. Oppenheimer lowered shares of Roku from an "outperform" rating to a "market perform" rating in a report on Monday, June 15th. Jefferies Financial Group downgraded Roku from a "buy" rating to a "hold" rating and set a $160.00 target price on the stock. in a research note on Monday, June 15th. Finally, Seaport Research Partners lowered Roku from a "buy" rating to a "neutral" rating in a research report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and nineteen have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $156.17.

Insider Activity at Roku

In related news, insider Charles Collier sold 20,538 shares of the business's stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $145.93, for a total value of $2,997,110.34. Following the sale, the insider directly owned 15,200 shares of the company's stock, valued at approximately $2,218,136. The trade was a 57.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gilbert Fuchsberg sold 10,719 shares of the company's stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $150.00, for a total value of $1,607,850.00. Following the transaction, the insider directly owned 40,380 shares of the company's stock, valued at approximately $6,057,000. This trade represents a 20.98% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 162,452 shares of company stock valued at $22,052,982 over the last three months. Insiders own 13.45% of the company's stock.

Roku 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.

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