Assenagon Asset Management S.A. Acquires 230,398 Shares of Roku, Inc. $ROKU

Key Points

• Assenagon Asset Management increased its Roku stake by 24.7% in the first quarter, buying 230,398 additional shares and bringing its total holding to 1,162,051 shares worth about $109.95 million.
• Roku’s latest earnings beat expectations, with quarterly EPS of $0.57 versus $0.34 expected and revenue of $1.25 billion, up 22.4% year over year.
• Analysts remain mixed on Roku: several firms raised or lowered targets, but the overall consensus from MarketBeat is a "Hold" rating with an average price target of $153.71.

Assenagon Asset Management S.A. grew its holdings in Roku, Inc. (NASDAQ:ROKU - Free Report) by 24.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,162,051 shares of the company's stock after purchasing an additional 230,398 shares during the period. Assenagon Asset Management S.A. owned about 0.79% of Roku worth $109,953,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in ROKU. SG Americas Securities LLC grew its holdings in shares of Roku by 56.0% in the first quarter. SG Americas Securities LLC now owns 149,670 shares of the company's stock worth $14,162,000 after purchasing an additional 53,731 shares during the last quarter. Diversified Trust Co increased its position in shares of Roku by 1.4% during the first quarter. Diversified Trust Co now owns 20,855 shares of the company's stock worth $1,973,000 after acquiring an additional 297 shares during the period. Hsbc Holdings PLC raised its stake in shares of Roku by 21.2% during the fourth quarter. Hsbc Holdings PLC now owns 16,733 shares of the company's stock valued at $1,837,000 after acquiring an additional 2,929 shares in the last quarter. Rockefeller Capital Management L.P. raised its stake in shares of Roku by 0.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 286,721 shares of the company's stock valued at $31,106,000 after acquiring an additional 2,221 shares in the last quarter. Finally, Osbon Capital Management LLC purchased a new stake in shares of Roku in the fourth quarter valued at approximately $45,000. 86.30% of the stock is currently owned by institutional investors.

Roku Stock Performance

Shares of Roku stock opened at $135.95 on Thursday. The company has a market capitalization of $20.04 billion, a PE ratio of 102.22 and a beta of 2.06. The company has a 50-day simple moving average of $124.73 and a two-hundred day simple moving average of $108.67. Roku, Inc. has a one year low of $78.53 and a one year high of $148.88.

Roku (NASDAQ:ROKU - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The company reported $0.57 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $1.20 billion. During the same period last year, the business earned ($0.19) EPS. The company's revenue was up 22.4% compared to the same quarter last year. On average, equities analysts predict that Roku, Inc. will post 2.41 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on ROKU. Morgan Stanley raised their price objective on Roku from $150.00 to $170.00 and gave the stock an "overweight" rating in a report on Thursday, June 4th. Fox Advisors set a $160.00 price target on Roku in a research report on Tuesday, June 16th. Evercore downgraded Roku from a "strong-buy" rating to a "hold" rating in a report on Monday, June 15th. Wolfe Research lowered shares of Roku from an "outperform" rating to a "peer perform" rating in a research note on Tuesday, June 16th. Finally, Wedbush cut shares of Roku from an "outperform" rating to a "neutral" rating and set a $155.00 target price on the stock. in a report on Tuesday, June 16th. Eleven equities research analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $153.71.

Trending Headlines about Roku

Here are the key news stories impacting Roku this week:

• Positive Sentiment: Multiple reports suggested Fox could be buying Roku for about $22 billion, which sparked investor interest because a deal like that would imply a major premium and could make Roku a much bigger player in streaming. Fox is buying Roku for $22 billion - here's what it means for your TV
• Positive Sentiment: Media consolidation commentary also highlighted Fox’s large investment in Roku, reinforcing the market’s view that Roku could be part of broader industry dealmaking. Media Consolidation in Its 'Middle Innings': Tom Ara
• Positive Sentiment: Jim Cramer’s discussion of Roku’s “big announcement” added to the attention around the stock, which can support momentum trading when sentiment is already strong. Jim Cramer Shares Thoughts On Roku’s (ROKU) Big Announcement
• Positive Sentiment: A Roku TV update reportedly brought a popular feature back to the home screen, a small but favorable product improvement that may help user engagement. A small Roku TV update brought a popular feature back to your home screen
• Neutral Sentiment: Zacks included Roku among broadcast and TV stocks to watch, noting the company benefits from higher content consumption and steady digital viewing, but also faces tough advertising competition. 4 Broadcast Radio & TV Stocks to Watch From a Challenging Industry
• Neutral Sentiment: Several articles focused on Roku alternatives, promotional pricing, and accessory deals, which are mostly consumer-interest pieces and unlikely to materially move the stock on their own. Want a Roku alternative? These are my 4 other favorite TV OS options, and I've tried them all
• Negative Sentiment: There were also reports that a recent YouTube TV update is causing unexpected problems and degraded performance on Roku devices, which could be a short-term headwind for user experience. It's not just you: YouTube TV update reportedly degrades performance on Roku devices

Insiders Place Their Bets

In other news, CEO Anthony J. Wood sold 75,000 shares of the firm's stock in a transaction on Monday, May 11th. The stock was sold at an average price of $128.79, for a total value of $9,659,250.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mustafa Ozgen sold 10,194 shares of the firm's stock in a transaction on Friday, June 12th. The stock was sold at an average price of $144.00, for a total value of $1,467,936.00. Following the completion of the sale, the insider directly owned 19,185 shares of the company's stock, valued at $2,762,640. The trade was a 34.70% 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. Over the last three months, insiders have sold 713,194 shares of company stock valued at $81,763,589. 13.45% of the stock is currently owned by insiders.

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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