Intech Investment Management LLC Invests $1.32 Million in Roku, Inc. $ROKU

Key Points

• Intech Investment Management opened a new position in Roku during the fourth quarter, buying 12,183 shares valued at about $1.32 million.
• Roku reported strong quarterly results, with EPS of $0.57 beating estimates and revenue of $1.25 billion topping forecasts, while revenue grew 22.4% year over year.
• Wall Street remains bullish on Roku, with 22 Buy ratings and a consensus price target of $145.29, even as insiders recently sold shares under pre-arranged trading plans.

Intech Investment Management LLC bought a new position in Roku, Inc. (NASDAQ:ROKU - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The firm bought 12,183 shares of the company's stock, valued at approximately $1,322,000.

Other institutional investors also recently modified their holdings of the company. Blue Trust Inc. increased its stake in shares of Roku by 680.0% in the 4th quarter. Blue Trust Inc. now owns 234 shares of the company's stock worth $25,000 after acquiring an additional 204 shares in the last quarter. Aventura Private Wealth LLC bought a new position in shares of Roku in the 4th quarter worth about $26,000. WPG Advisers LLC bought a new position in shares of Roku in the 4th quarter worth about $31,000. Cornerstone Planning Group LLC increased its stake in shares of Roku by 20,450.0% in the 3rd quarter. Cornerstone Planning Group LLC now owns 411 shares of the company's stock worth $41,000 after acquiring an additional 409 shares in the last quarter. Finally, Rakuten Securities Inc. increased its stake in shares of Roku by 55.6% in the 2nd quarter. Rakuten Securities Inc. now owns 442 shares of the company's stock worth $39,000 after acquiring an additional 158 shares in the last quarter. 86.30% of the stock is currently owned by institutional investors.

Roku Stock Down 2.7%

Shares of NASDAQ ROKU opened at $122.26 on Friday. The firm's 50-day moving average price is $115.32 and its 200-day moving average price is $105.15. The company has a market cap of $18.02 billion, a PE ratio of 91.93 and a beta of 2.06. Roku, Inc. has a 52-week low of $73.91 and a 52-week high of $133.46.

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, beating analysts' consensus estimates of $0.34 by $0.23. The firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.20 billion. Roku had a net margin of 4.06% and a return on equity of 7.64%. The business's quarterly revenue was up 22.4% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.19) EPS. As a group, equities research analysts anticipate that Roku, Inc. will post 2.41 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ROKU. Needham & Company LLC increased their price target on shares of Roku from $110.00 to $140.00 and gave the stock a "buy" rating in a research note on Friday, May 1st. Citizens Jmp reiterated a "market outperform" rating and issued a $170.00 price target on shares of Roku in a research note on Thursday, May 28th. Rosenblatt Securities increased their price target on shares of Roku from $118.00 to $150.00 and gave the stock a "buy" rating in a research note on Friday, May 1st. Jefferies Financial Group increased their price target on shares of Roku from $135.00 to $140.00 and gave the stock a "buy" rating in a research note on Monday, April 13th. Finally, Susquehanna increased their price target on shares of Roku from $130.00 to $160.00 and gave the stock a "positive" rating in a research note on Friday, May 1st. Twenty-two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Roku currently has an average rating of "Moderate Buy" and a consensus price target of $145.29.

Roku News Roundup

Here are the key news stories impacting Roku this week:

• Positive Sentiment: Roku continues to expand its free ad-supported streaming lineup, adding new channels including Sports Illustrated and FIFA Plus, plus four more free channels in June. That supports engagement on The Roku Channel and could improve ad inventory and viewing time. Article Title
• Positive Sentiment: The company also launched a $25 bundle pairing the Streaming Stick Plus with Fox One, which may help drive device sales and keep Roku’s ecosystem competitive. Article Title
• Positive Sentiment: Roku has been benefiting from a bullish narrative around its growing household reach and stronger live-sports positioning, which investors may see as supportive of future ad and platform revenue. Article Title

Insider Activity

In other news, SVP Christopher T. Handman sold 2,999 shares of the firm's stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $127.26, for a total transaction of $381,652.74. Following the sale, the senior vice president owned 5,998 shares of the company's stock, valued at $763,305.48. This trade represents a 33.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Neil D. Hunt sold 2,000 shares of the firm's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $129.09, for a total transaction of $258,180.00. Following the completion of the transaction, the director directly owned 7,782 shares in the company, valued at approximately $1,004,578.38. The trade was a 20.45% 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 90 days, insiders have sold 696,631 shares of company stock worth $77,636,680. 13.45% of the stock is owned by corporate insiders.

About Roku

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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