Janus Henderson Group PLC Acquires 775,861 Shares of Roku, Inc. $ROKU

Key Points

• Janus Henderson significantly increased its Roku position by purchasing 775,861 shares in the first quarter, bringing its holdings to 834,619 shares valued at approximately $79 million. Institutional investors collectively own 86.3% of Roku.
• Roku insiders sold a combined 224,181 shares worth about $29 million over the past 90 days, including sales by CFO Dan Jedda and insider Mustafa Ozgen under pre-arranged Rule 10b5-1 trading plans.
• Analyst sentiment remains mixed: Roku has an average “Hold” rating and a $155.12 consensus price target, while the stock recently traded near $145. The company’s latest quarter beat earnings and revenue estimates, with revenue rising 22.4% year over year.

Janus Henderson Group PLC lifted its holdings in shares of Roku, Inc. (NASDAQ:ROKU - Free Report) by 1,320.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 834,619 shares of the company's stock after buying an additional 775,861 shares during the period. Janus Henderson Group PLC owned about 0.57% of Roku worth $78,967,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of ROKU. Blue Trust Inc. raised its holdings in Roku by 680.0% during the fourth 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. Bayban boosted its position in Roku by 1,300.0% during the first quarter. Bayban now owns 280 shares of the company's stock valued at $26,000 after purchasing an additional 260 shares during the last quarter. WPG Advisers LLC bought a new position in Roku in the fourth quarter valued at approximately $31,000. Safe Harbor Fiduciary LLC bought a new position in Roku in the fourth quarter valued at approximately $31,000. Finally, Rakuten Securities Inc. increased its position in shares of Roku by 55.6% during the 2nd quarter. Rakuten Securities Inc. now owns 442 shares of the company's stock worth $39,000 after purchasing an additional 158 shares during the last quarter. Institutional investors own 86.30% of the company's stock.

Insider Buying and Selling at Roku

In other Roku news, CFO Dan Jedda sold 7,000 shares of Roku stock in a transaction on Monday, June 15th. The shares were sold at an average price of $143.87, for a total transaction of $1,007,090.00. Following the completion of the transaction, the chief financial officer directly owned 79,963 shares of the company's stock, valued at $11,504,276.81. The trade was a 8.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mustafa Ozgen sold 10,194 shares of Roku stock in a transaction on Friday, June 12th. The stock was sold at an average price of $144.00, for a total transaction of $1,467,936.00. Following the transaction, the insider directly owned 19,185 shares of the company's stock, valued at approximately $2,762,640. This trade represents a 34.70% decrease in their ownership of the stock. 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 ninety days, insiders have sold 224,181 shares of company stock worth $29,043,628. 13.45% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ROKU. Evercore cut Roku from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 15th. Weiss Ratings reissued a "hold (c-)" rating on shares of Roku in a research note on Friday, May 15th. UBS Group set a $160.00 target price on shares of Roku in a report on Monday, June 15th. KeyCorp lowered shares of Roku from an "overweight" rating to a "sector weight" rating in a research report on Monday, June 15th. Finally, Pivotal Research reiterated a "buy" rating and issued a $160.00 price target (up from $140.00) on shares of Roku in a research note on Friday, May 1st. Ten analysts have rated the stock with a Buy rating and seventeen have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $155.12.

Roku Stock Down 0.1%

ROKU opened at $145.01 on Friday. Roku, Inc. has a 12-month low of $78.53 and a 12-month high of $148.88. The business has a 50 day moving average of $136.45 and a 200-day moving average of $114.86. The stock has a market cap of $21.38 billion, a price-to-earnings ratio of 109.03 and a beta of 2.01.

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

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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