Allianz Asset Management GmbH Has $5.32 Million Holdings in Roku, Inc. (NASDAQ:ROKU)

Key Points

• Allianz Asset Management GmbH significantly increased its holdings in Roku, Inc. by 499.8% in Q1, owning approximately 75,449 shares valued at $5.32 million after purchasing an additional 62,871 shares.
• Despite a negative EPS of -$0.19 for the last quarter, Roku reported revenue of $1.02 billion, exceeding expectations, and experienced a year-over-year revenue growth of 15.8%.
• Equity analysts have mixed outlooks on Roku, with price targets ranging from $72 to $115, reflecting a consensus view of "Moderate Buy" as broader market sentiment fluctuates.

Allianz Asset Management GmbH grew its position in shares of Roku, Inc. (NASDAQ:ROKU - Free Report) by 499.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 75,449 shares of the company's stock after purchasing an additional 62,871 shares during the quarter. Allianz Asset Management GmbH owned about 0.05% of Roku worth $5,315,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Roku by 505.3% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,296,774 shares of the company's stock worth $96,402,000 after buying an additional 1,082,548 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Roku by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 2,147,259 shares of the company's stock valued at $159,353,000 after acquiring an additional 56,820 shares during the period. Lecap Asset Management Ltd. acquired a new position in shares of Roku during the 1st quarter valued at $511,000. J. Goldman & Co LP boosted its stake in Roku by 973.1% during the fourth quarter. J. Goldman & Co LP now owns 354,326 shares of the company's stock worth $26,341,000 after acquiring an additional 321,307 shares in the last quarter. Finally, Allstate Corp acquired a new stake in Roku in the fourth quarter worth $275,000. Institutional investors and hedge funds own 86.30% of the company's stock.

Roku Stock Up 3.9%

Shares of ROKU opened at $93.65 on Tuesday. The business's 50-day moving average price is $82.24 and its 200-day moving average price is $76.61. Roku, Inc. has a twelve month low of $48.33 and a twelve month high of $104.96. The stock has a market cap of $13.67 billion, a PE ratio of -128.29 and a beta of 2.12.

Roku (NASDAQ:ROKU - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported ($0.19) earnings per share for the quarter, topping analysts' consensus estimates of ($0.27) by $0.08. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. Roku had a negative net margin of 2.49% and a negative return on equity of 4.29%. Roku's revenue was up 15.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.35) EPS. Analysts expect that Roku, Inc. will post -0.3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. UBS Group dropped their price objective on shares of Roku from $90.00 to $72.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. Evercore ISI dropped their price target on Roku from $105.00 to $80.00 and set an "in-line" rating on the stock in a research note on Friday, May 2nd. Bank of America increased their price target on Roku from $100.00 to $110.00 and gave the stock a "buy" rating in a report on Thursday, July 3rd. Loop Capital upgraded Roku from a "hold" rating to a "buy" rating and boosted their price objective for the company from $80.00 to $100.00 in a report on Tuesday, June 17th. Finally, KeyCorp upgraded Roku from a "sector weight" rating to an "overweight" rating and set a $115.00 price target for the company in a report on Thursday, July 10th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $93.92.

Insiders Place Their Bets

In other Roku news, CFO Dan Jedda sold 3,000 shares of the company's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $90.20, for a total value of $270,600.00. Following the completion of the sale, the chief financial officer owned 76,132 shares of the company's stock, valued at $6,867,106.40. This represents a 3.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mai Fyfield sold 914 shares of the business's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $78.50, for a total transaction of $71,749.00. Following the completion of the sale, the director directly owned 4,374 shares of the company's stock, valued at $343,359. This represents a 17.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 309,079 shares of company stock worth $28,091,399. Insiders own 13.98% of the company's stock.

Roku Profile

Roku, Inc, together with its subsidiaries, operates a TV streaming platform in the United states and internationally. The company operates in two segments, Platform and Devices. Its streaming platform allows users to find and access TV shows, movies, news, sports, and others. The Platform segment offers digital advertising, including direct and programmatic video advertising, media and entertainment promotional spending, and related services; and streaming services distribution, such as subscription and transaction revenue shares, and sale of premium subscriptions and branded app buttons on remote controls.

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