Amundi Boosts Holdings in Roku, Inc. $ROKU

Key Points

• Amundi increased its Roku stake by 170.3% in the first quarter, adding 471,234 shares to own 747,891 shares worth approximately $70.8 million. Institutional investors collectively hold 86.3% of Roku’s stock.
• Roku reported quarterly earnings of $0.57 per share, beating estimates of $0.34, while revenue rose 22.4% year over year to $1.25 billion. The stock opened at $145.01, near its 52-week high of $148.88.
• Analyst sentiment remains cautious, with 10 Buy ratings and 17 Hold ratings producing an overall “Hold” consensus and an average price target of $155.12. Meanwhile, Roku insiders sold $29.0 million of shares over the past 90 days, including sales by its CFO and chief accounting officer under pre-arranged trading plans.

Amundi grew its stake in shares of Roku, Inc. (NASDAQ:ROKU - Free Report) by 170.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 747,891 shares of the company's stock after acquiring an additional 471,234 shares during the quarter. Amundi owned about 0.51% of Roku worth $70,765,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Blue Trust Inc. grew its stake in shares of Roku by 680.0% during the 4th quarter. Blue Trust Inc. now owns 234 shares of the company's stock valued at $25,000 after buying an additional 204 shares during the period. Bayban increased its holdings in shares of Roku by 1,300.0% during the 1st quarter. Bayban now owns 280 shares of the company's stock worth $26,000 after buying an additional 260 shares during the last quarter. WPG Advisers LLC purchased a new position in shares of Roku in the 4th quarter worth $31,000. Safe Harbor Fiduciary LLC purchased a new position in shares of Roku in the 4th quarter worth $31,000. Finally, Rakuten Securities Inc. boosted its holdings in Roku by 55.6% in the second quarter. Rakuten Securities Inc. now owns 442 shares of the company's stock valued at $39,000 after acquiring an additional 158 shares during the last quarter. 86.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Roku

In other news, CFO Dan Jedda sold 7,000 shares of Roku stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $143.87, for a total transaction of $1,007,090.00. Following the sale, the chief financial officer directly owned 79,963 shares of the company's stock, valued at approximately $11,504,276.81. The trade was a 8.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Matthew C. Banks sold 554 shares of the business's stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $138.88, for a total value of $76,939.52. Following the completion of the transaction, the chief accounting officer owned 7,171 shares in the company, valued at approximately $995,908.48. This trade represents a 7.17% 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. Over the last ninety days, insiders sold 224,181 shares of company stock valued at $29,043,628. 13.45% of the stock is currently owned by insiders.

Roku Trading Down 0.1%

NASDAQ ROKU opened at $145.01 on Friday. The company's fifty day simple moving average is $136.45 and its 200-day simple moving average is $114.86. Roku, Inc. has a 52 week low of $78.53 and a 52 week high of $148.88. The stock has a market cap of $21.38 billion, a P/E ratio of 109.03 and a beta of 2.01.

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

Analyst Ratings Changes

ROKU has been the subject of a number of research reports. Piper Sandler downgraded Roku from an "overweight" rating to a "neutral" rating and boosted their price target for the company from $148.00 to $160.00 in a research report on Tuesday, June 16th. Wedbush lowered Roku from an "outperform" rating to a "neutral" rating and set a $155.00 price objective on the stock. in a research note on Tuesday, June 16th. Wells Fargo & Company boosted their target price on Roku from $137.00 to $167.00 and gave the stock an "overweight" rating in a report on Friday, May 1st. Pivotal Research reiterated a "buy" rating and set a $160.00 target price (up from $140.00) on shares of Roku in a report on Friday, May 1st. Finally, Seaport Research Partners set a $155.00 target price on shares of Roku in a research report on Tuesday, June 16th. Ten analysts have rated the stock with a Buy rating and seventeen have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $155.12.

Roku Company 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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