Legal & General Group Plc Sells 50,370 Shares of Roku, Inc. $ROKU

Key Points

• Legal & General Group Plc cut its Roku stake by 26.9% in the fourth quarter, selling 50,370 shares and leaving it with 136,876 shares valued at about $14.85 million.
• Roku insiders also sold shares, including CFO Dan Jedda and CEO Anthony J. Wood, with insider sales totaling 681,358 shares worth about $75.6 million over the last 90 days.
• Wall Street remains mostly bullish on Roku after its recent earnings beat, with 22 Buy ratings and a consensus target price of $144.46; the company also topped quarterly EPS and revenue estimates.

Legal & General Group Plc lowered its stake in shares of Roku, Inc. (NASDAQ:ROKU - Free Report) by 26.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 136,876 shares of the company's stock after selling 50,370 shares during the quarter. Legal & General Group Plc owned 0.09% of Roku worth $14,850,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Blue Trust Inc. raised its position in Roku by 680.0% during the fourth quarter. Blue Trust Inc. now owns 234 shares of the company's stock valued at $25,000 after purchasing an additional 204 shares in the last quarter. Aventura Private Wealth LLC purchased a new position in shares of Roku in the 4th quarter worth about $26,000. WPG Advisers LLC purchased a new position in shares of Roku in the 4th quarter worth about $31,000. Cornerstone Planning Group LLC increased its position in shares of Roku by 20,450.0% during the 3rd quarter. Cornerstone Planning Group LLC now owns 411 shares of the company's stock valued at $41,000 after purchasing an additional 409 shares during the last quarter. Finally, Rakuten Securities Inc. raised its holdings in shares of Roku by 55.6% during the 2nd quarter. Rakuten Securities Inc. now owns 442 shares of the company's stock valued at $39,000 after buying an additional 158 shares in the last quarter. 86.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ROKU has been the subject of a number of recent research reports. Wedbush boosted their target price on Roku from $140.00 to $155.00 and gave the stock an "outperform" rating in a research report on Friday, May 1st. Weiss Ratings reissued a "hold (c-)" rating on shares of Roku in a research note on Friday, May 15th. Citizens Jmp restated a "market outperform" rating and issued a $170.00 price objective on shares of Roku in a report on Thursday, May 28th. Susquehanna increased their target price on shares of Roku from $130.00 to $160.00 and gave the company a "positive" rating in a report on Friday, May 1st. Finally, Oppenheimer lifted their target price on shares of Roku from $105.00 to $120.00 and gave the stock an "outperform" rating in a research report on Friday, February 13th. Twenty-two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Roku currently has a consensus rating of "Moderate Buy" and a consensus target price of $144.46.

Insiders Place Their Bets

In other Roku news, CFO Dan Jedda sold 7,000 shares of the business's 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 transaction, the chief financial officer owned 71,115 shares in the company, valued at approximately $8,715,854.40. The trade was a 8.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Anthony J. Wood sold 75,000 shares of the company's stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $128.79, for a total transaction of $9,659,250.00. 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. Over the last 90 days, insiders have sold 681,358 shares of company stock worth $75,642,627. 13.45% of the stock is currently owned by insiders.

Key Stories Impacting Roku

Here are the key news stories impacting Roku this week:

• Positive Sentiment: Several articles highlighted bullish Wall Street views on Roku, with the average brokerage recommendation pointing to a Buy-style stance. While these pieces note that analyst ratings can be overly optimistic, they may still support sentiment around the stock. Is It Worth Investing in Roku (ROKU) Based on Wall Street's Bullish Views?
• Positive Sentiment: Roku continued rolling out platform content, including more than 20 new free live TV channels and a dedicated Soccer Zone portal ahead of the FIFA World Cup. These updates could help drive engagement, ad inventory, and user growth. Roku just added over 20 new free live TV channels
• Positive Sentiment: Roku also announced its CFO and COO Dan Jedda will speak at Evercore ISI’s Global TMT Conference, which may draw investor attention to management’s outlook and near-term strategy. Roku CFO to Participate in Fireside Chat Hosted by Evercore ISI
• Neutral Sentiment: One commentary argued that another tech stock may be a better long-term value than Roku, but the piece also noted Roku’s strong recent earnings beat and a sharp one-year rally. This is more of a valuation comparison than a direct negative on the business. Forget Roku: This Stock Is a Far Better Value for Long-Term Investors
• Neutral Sentiment: Other recent coverage focused on Roku’s stock being a favorite of Cathie Wood and still well below prior highs. That reinforces the turnaround narrative, but it does not add new company-specific catalysts. Cathie Wood favorite tech stock still down 73% from all-time highs

Roku Stock Performance

Shares of ROKU stock opened at $127.12 on Wednesday. The company has a market capitalization of $18.74 billion, a P/E ratio of 95.58 and a beta of 2.06. Roku, Inc. has a fifty-two week low of $71.88 and a fifty-two week high of $133.46. The stock has a 50 day moving average price of $113.01 and a two-hundred day moving average price of $104.54.

Roku (NASDAQ:ROKU - Get Free Report) last issued its earnings results on Thursday, April 30th. The company reported $0.57 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts' expectations of $1.20 billion. During the same quarter last year, the business earned ($0.19) earnings per share. The business's revenue was up 22.4% on a year-over-year basis. As a group, equities analysts predict that Roku, Inc. will post 2.41 earnings per share for the current year.

Roku Company 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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