Amova Asset Management Americas Inc. Sells 1,092,615 Shares of Roku, Inc. $ROKU

Key Points

• Amova Asset Management Americas reduced its Roku stake by 37.1% in Q1, selling 1,092,615 shares and leaving it with 1,848,889 shares valued at about $174.9 million.
• Roku shares were trading around $144.13, near their 52-week high of $148.88, with a market cap of about $21.25 billion.
• Roku recently beat earnings expectations, reporting $0.57 EPS on $1.25 billion in revenue, while analysts currently have a consensus rating of Hold with an average target price of $155.12.

Amova Asset Management Americas Inc. lessened its stake in Roku, Inc. (NASDAQ:ROKU - Free Report) by 37.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,848,889 shares of the company's stock after selling 1,092,615 shares during the quarter. Roku comprises 2.5% of Amova Asset Management Americas Inc.'s investment portfolio, making the stock its 11th biggest position. Amova Asset Management Americas Inc. owned 1.25% of Roku worth $174,923,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Jefferies Financial Group Inc. acquired a new position in shares of Roku during the 4th quarter valued at $1,345,000. Moran Wealth Management LLC acquired a new stake in Roku in the first quarter worth $2,990,000. MH & Associates Securities Management Corp ADV bought a new stake in Roku in the fourth quarter valued at $2,398,000. Katamaran Capital LLP increased its stake in Roku by 90.8% in the first quarter. Katamaran Capital LLP now owns 52,548 shares of the company's stock valued at $4,972,000 after purchasing an additional 25,002 shares in the last quarter. Finally, Maxi Investments CY Ltd acquired a new position in shares of Roku during the fourth quarter valued at about $1,953,000. Institutional investors own 86.30% of the company's stock.

Roku Stock Down 0.2%

Shares of NASDAQ:ROKU opened at $144.13 on Tuesday. The stock has a market cap of $21.25 billion, a price-to-earnings ratio of 108.37 and a beta of 2.01. Roku, Inc. has a 12-month low of $78.53 and a 12-month high of $148.88. The business's 50 day moving average is $133.04 and its 200 day moving average is $112.78.

Roku (NASDAQ:ROKU - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.23. The business had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.20 billion. Roku had a return on equity of 7.64% and a net margin of 4.06%.Roku's revenue was up 22.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.19) earnings per share. As a group, equities research analysts expect that Roku, Inc. will post 2.41 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ROKU. Citigroup increased their price objective on shares of Roku from $120.00 to $157.00 and gave the stock a "neutral" rating in a research report on Friday. Susquehanna downgraded Roku from a "positive" rating to a "neutral" rating and set a $160.00 price target on the stock. in a research note on Tuesday, June 16th. Zacks Research lowered Roku from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 14th. Morgan Stanley raised their price objective on Roku from $150.00 to $170.00 and gave the company an "overweight" rating in a research note on Thursday, June 4th. Finally, UBS Group set a $160.00 price objective on Roku in a report on Monday, June 15th. Ten research analysts have rated the stock with a Buy rating and seventeen have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $155.12.

Insider Activity at Roku

In related news, insider Charles Collier sold 20,538 shares of the business's stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $124.23, for a total transaction of $2,551,435.74. Following the transaction, the insider directly owned 7,700 shares in the company, valued at approximately $956,571. The trade was a 72.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gilbert Fuchsberg sold 9,593 shares of the business's stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $125.52, for a total value of $1,204,113.36. Following the completion of the transaction, the insider owned 50,863 shares in the company, valued at $6,384,323.76. The trade was a 15.87% 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 236,499 shares of company stock valued at $30,582,963 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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