Financiere des Professionnels Fonds d investissement inc. Takes Position in Roku, Inc. $ROKU

Key Points

• Financiere des Professionnels Fonds d investissement inc. initiated a new position in Roku during the first quarter, buying 8,818 shares valued at about $834,000.
• Other institutional investors also increased or established stakes in Roku, and institutions now own 86.30% of the company’s shares, underscoring continued Wall Street interest.
• Roku reported strong quarterly results, with EPS of $0.57 beating estimates and revenue of $1.25 billion rising 22.4% year over year, though analysts still rate the stock Hold on average.

Financiere des Professionnels Fonds d investissement inc. bought a new position in Roku, Inc. (NASDAQ:ROKU - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 8,818 shares of the company's stock, valued at approximately $834,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Independent Financial Group LLC bought a new stake in Roku during the 1st quarter valued at $1,620,000. Illinois Municipal Retirement Fund grew its holdings in Roku by 28.9% in the 1st quarter. Illinois Municipal Retirement Fund now owns 61,406 shares of the company's stock worth $5,810,000 after acquiring an additional 13,764 shares during the last quarter. Katamaran Capital LLP grew its holdings in Roku by 90.8% in the 1st quarter. Katamaran Capital LLP now owns 52,548 shares of the company's stock worth $4,972,000 after acquiring an additional 25,002 shares during the last quarter. Hillsdale Investment Management Inc. increased its position in shares of Roku by 15.6% in the first quarter. Hillsdale Investment Management Inc. now owns 55,480 shares of the company's stock valued at $5,250,000 after acquiring an additional 7,500 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in shares of Roku in the first quarter valued at about $361,000. Institutional investors own 86.30% of the company's stock.

Analyst Upgrades and Downgrades

ROKU has been the subject of a number of analyst reports. Citigroup increased their target price on shares of Roku from $120.00 to $157.00 and gave the stock a "neutral" rating in a report on Friday. UBS Group set a $160.00 price target on Roku in a report on Monday, June 15th. 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 report on Tuesday, June 16th. Evercore lowered shares of Roku from a "strong-buy" rating to a "hold" rating in a report on Monday, June 15th. Finally, JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $160.00 target price (up from $150.00) on shares of Roku in a research note on Tuesday, June 16th. Ten investment analysts have rated the stock with a Buy rating and seventeen have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $155.12.

Roku Price Performance

NASDAQ:ROKU opened at $144.43 on Friday. Roku, Inc. has a 1-year low of $78.53 and a 1-year high of $148.88. The firm's 50-day moving average price is $132.72 and its 200-day moving average price is $112.54. The company has a market capitalization of $21.29 billion, a PE ratio of 108.59 and a beta of 2.01.

Roku (NASDAQ:ROKU - Get Free Report) last released its earnings results on Thursday, April 30th. The company reported $0.57 earnings per share (EPS) 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 firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same period last year, the business earned ($0.19) earnings per share. The business's revenue was up 22.4% on a year-over-year basis. Equities analysts anticipate that Roku, Inc. will post 2.41 EPS for the current fiscal year.

Insider Activity at Roku

In other Roku news, CFO Dan Jedda sold 7,000 shares of Roku stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $122.56, for a total value of $857,920.00. Following the completion of the transaction, the chief financial officer directly owned 71,115 shares of the company's stock, valued at approximately $8,715,854.40. The trade was a 8.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Anthony J. Wood sold 75,000 shares of Roku stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $128.79, for a total transaction of $9,659,250.00. 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 236,499 shares of company stock worth $30,582,963 over the last quarter. 13.45% of the stock is currently owned by company 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.

Want to see what other hedge funds are holding ROKU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Roku, Inc. (NASDAQ:ROKU - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.