Roku, Inc. (NASDAQ:ROKU) Stake Boosted by Jupiter Asset Management Ltd.

Key Points

• Jupiter Asset Management Ltd. increased its stake in Roku, Inc. by 45.5%, acquiring a total of 736,526 shares valued at approximately $51.88 million.
• Roku recently reported earnings of $0.07 per share, beating analyst expectations, with revenue increasing by 14.7% year-over-year to $1.11 billion.
• Equities analysts have raised their price targets for Roku, with estimates ranging from $84.00 to $110.00, reflecting an overall "Moderate Buy" rating among analysts.

Jupiter Asset Management Ltd. grew its stake in shares of Roku, Inc. (NASDAQ:ROKU - Free Report) by 45.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 736,526 shares of the company's stock after purchasing an additional 230,175 shares during the quarter. Jupiter Asset Management Ltd. owned approximately 0.50% of Roku worth $51,881,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in ROKU. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Roku in the 1st quarter worth approximately $6,026,000. Jacobs Levy Equity Management Inc. grew its holdings in Roku by 505.3% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,296,774 shares of the company's stock worth $96,402,000 after buying an additional 1,082,548 shares in the last quarter. Geode Capital Management LLC grew its holdings in Roku by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 2,147,259 shares of the company's stock worth $159,353,000 after buying an additional 56,820 shares in the last quarter. Lecap Asset Management Ltd. bought a new position in Roku in the 1st quarter worth approximately $511,000. Finally, J. Goldman & Co LP grew its holdings in Roku by 973.1% in the 4th quarter. J. Goldman & Co LP now owns 354,326 shares of the company's stock worth $26,341,000 after buying an additional 321,307 shares in the last quarter. 86.30% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Dan Jedda sold 3,000 shares of the company's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $90.20, for a total value of $270,600.00. Following the transaction, the chief financial officer directly owned 76,132 shares of the company's stock, valued at approximately $6,867,106.40. This represents a 3.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Anthony J. Wood sold 25,000 shares of the company's stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $89.64, for a total transaction of $2,241,000.00. Following the completion of the transaction, the chief executive officer directly owned 11,953 shares in the company, valued at $1,071,466.92. This trade represents a 67.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 308,873 shares of company stock valued at $28,076,913 in the last 90 days. Company insiders own 13.98% of the company's stock.

Roku Stock Down 15.1%

Shares of NASDAQ:ROKU opened at $79.98 on Friday. The company's fifty day moving average is $83.77 and its two-hundred day moving average is $76.97. Roku, Inc. has a 12-month low of $48.33 and a 12-month high of $104.96. The company has a market cap of $11.67 billion, a P/E ratio of -190.43 and a beta of 2.05.

Roku (NASDAQ:ROKU - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.23. Roku had a negative net margin of 1.40% and a negative return on equity of 2.47%. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the previous year, the business earned ($0.18) EPS. The company's revenue was up 14.7% on a year-over-year basis. Equities research analysts anticipate that Roku, Inc. will post -0.3 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on ROKU shares. Rosenblatt Securities increased their price objective on Roku from $75.00 to $101.00 and gave the stock a "neutral" rating in a report on Friday. JPMorgan Chase & Co. increased their price objective on Roku from $100.00 to $105.00 and gave the stock an "overweight" rating in a report on Friday. Susquehanna increased their price objective on Roku from $85.00 to $110.00 and gave the stock a "positive" rating in a report on Friday. UBS Group increased their price objective on Roku from $72.00 to $95.00 and gave the stock a "neutral" rating in a report on Friday. Finally, Piper Sandler upped their target price on Roku from $65.00 to $84.00 and gave the stock a "neutral" rating in a research report on Thursday, July 10th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $99.36.

About Roku

Roku, Inc, together with its subsidiaries, operates a TV streaming platform in the United states and internationally. The company operates in two segments, Platform and Devices. Its streaming platform allows users to find and access TV shows, movies, news, sports, and others. The Platform segment offers digital advertising, including direct and programmatic video advertising, media and entertainment promotional spending, and related services; and streaming services distribution, such as subscription and transaction revenue shares, and sale of premium subscriptions and branded app buttons on remote controls.

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