Janney Montgomery Scott LLC Takes $1.35 Million Position in Roku, Inc. $ROKU

Key Points

• Janney Montgomery Scott LLC opened a new position in Roku during the first quarter, buying 14,291 shares valued at about $1.35 million.
• Institutional ownership remains high, with multiple funds adding to their Roku stakes, while insiders have been selling shares; CEO Anthony J. Wood and insider Charles Collier both made large sales under pre-arranged trading plans.
• Analysts are mixed on Roku after recent updates: several firms trimmed ratings to Neutral even as price targets were raised to the $155–$160 range, and the stock recently traded near $140.69 after a strong earnings report beat estimates.

Janney Montgomery Scott LLC bought a new stake in shares of Roku, Inc. (NASDAQ:ROKU - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 14,291 shares of the company's stock, valued at approximately $1,352,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Apollon Wealth Management LLC grew its stake in shares of Roku by 1.5% in the 4th quarter. Apollon Wealth Management LLC now owns 6,450 shares of the company's stock worth $700,000 after purchasing an additional 96 shares during the last quarter. Quarry LP boosted its holdings in Roku by 21.7% during the fourth quarter. Quarry LP now owns 689 shares of the company's stock worth $75,000 after buying an additional 123 shares in the last quarter. Swiss Life Asset Management Ltd boosted its holdings in Roku by 2.2% during the fourth quarter. Swiss Life Asset Management Ltd now owns 5,969 shares of the company's stock worth $648,000 after buying an additional 127 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in Roku by 3.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,664 shares of the company's stock worth $398,000 after buying an additional 135 shares during the last quarter. Finally, Larson Financial Group LLC increased its holdings in shares of Roku by 32.1% in the third quarter. Larson Financial Group LLC now owns 556 shares of the company's stock valued at $56,000 after buying an additional 135 shares in the last quarter. 86.30% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Anthony J. Wood sold 75,000 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $128.79, for a total value of $9,659,250.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Charles Collier sold 205,807 shares of the business's stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $115.00, for a total transaction of $23,667,805.00. Following the transaction, the insider directly owned 7,700 shares in the company, valued at $885,500. The trade was a 96.39% decrease in their ownership of the stock. 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. In the last 90 days, insiders sold 477,737 shares of company stock worth $58,132,511. Insiders own 13.45% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Seaport Research Partners set a $155.00 price objective on Roku in a research note on Tuesday, June 16th. Fox Advisors set a $160.00 target price on Roku in a research report on Tuesday, June 16th. Piper Sandler downgraded Roku from an "overweight" rating to a "neutral" rating and upped their target price for the company from $148.00 to $160.00 in a report on Tuesday, June 16th. Wedbush lowered Roku from an "outperform" rating to a "neutral" rating and set a $155.00 price target for the company. in a research report on Tuesday, June 16th. Finally, Susquehanna cut 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. Eleven equities research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $153.71.

Roku Price Performance

NASDAQ ROKU traded up $0.43 on Friday, hitting $140.69. 1,881,481 shares of the stock were exchanged, compared to its average volume of 8,113,601. The company's 50-day moving average price is $130.91 and its two-hundred day moving average price is $111.41. Roku, Inc. has a 52-week low of $78.53 and a 52-week high of $148.88. The company has a market capitalization of $20.74 billion, a price-to-earnings ratio of 105.78 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 analysts' consensus estimates of $0.34 by $0.23. Roku had a return on equity of 7.64% and a net margin of 4.06%.The company had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the prior year, the company earned ($0.19) earnings per share. The company's revenue for the quarter was up 22.4% on a year-over-year basis. Equities analysts predict that Roku, Inc. will post 2.41 EPS for the current fiscal year.

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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