Assenagon Asset Management S.A. Grows Position in Roku, Inc. $ROKU

Assenagon Asset Management S.A. raised its stake in shares of Roku, Inc. (NASDAQ:ROKU) by 24.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,162,051 shares of the company’s stock after purchasing an additional 230,398 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Roku were worth $109,953,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Jefferies Financial Group Inc. acquired a new position in Roku in the 4th quarter worth approximately $1,345,000. Holocene Advisors LP lifted its stake in Roku by 352.3% during the 3rd quarter. Holocene Advisors LP now owns 1,650,448 shares of the company’s stock valued at $165,259,000 after acquiring an additional 1,285,585 shares during the period. Crossmark Global Holdings Inc. purchased a new stake in shares of Roku in the 3rd quarter valued at $2,997,000. MH & Associates Securities Management Corp ADV purchased a new stake in shares of Roku in the 4th quarter valued at $2,398,000. Finally, Magnetar Financial LLC acquired a new stake in shares of Roku in the third quarter worth $5,466,000. Hedge funds and other institutional investors own 86.30% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on ROKU. Fox Advisors set a $160.00 target price on shares of Roku in a report on Tuesday, June 16th. Wedbush lowered shares of Roku from an “outperform” rating to a “neutral” rating and set a $155.00 price target on the stock. in a report on Tuesday, June 16th. Jefferies Financial Group downgraded Roku from a “buy” rating to a “hold” rating and set a $160.00 price target on the stock. in a research report on Monday, June 15th. Robert W. Baird reiterated a “neutral” rating and set a $160.00 price objective on shares of Roku in a research note on Monday, June 15th. Finally, Piper Sandler cut Roku from an “overweight” rating to a “neutral” rating and boosted their price objective for the company from $148.00 to $160.00 in a report on Tuesday, June 16th. Eleven research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the stock. According to data from MarketBeat.com, Roku presently has an average rating of “Hold” and an average price target of $153.71.

Insiders Place Their Bets

In other news, insider Charles Collier sold 205,821 shares of the firm’s stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $105.00, for a total transaction of $21,611,205.00. Following the sale, the insider directly owned 11,131 shares in the company, valued at $1,168,755. This trade represents a 94.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 dated Friday, June 12th. The shares were sold at an average price of $144.00, for a total value of $1,467,936.00. Following the completion of the transaction, the insider owned 19,185 shares of the company’s stock, valued at approximately $2,762,640. This represents a 34.70% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 713,194 shares of company stock worth $81,763,589. Company insiders own 13.45% of the company’s stock.

Trending Headlines about Roku

Here are the key news stories impacting Roku this week:

• Positive Sentiment: Multiple reports suggested Fox could be buying Roku for about $22 billion, which sparked investor interest because a deal like that would imply a major premium and could make Roku a much bigger player in streaming. Fox is buying Roku for $22 billion – here’s what it means for your TV
• Positive Sentiment: Media consolidation commentary also highlighted Fox’s large investment in Roku, reinforcing the market’s view that Roku could be part of broader industry dealmaking. Media Consolidation in Its ‘Middle Innings’: Tom Ara
• Positive Sentiment: Jim Cramer’s discussion of Roku’s “big announcement” added to the attention around the stock, which can support momentum trading when sentiment is already strong. Jim Cramer Shares Thoughts On Roku’s (ROKU) Big Announcement
• Positive Sentiment: A Roku TV update reportedly brought a popular feature back to the home screen, a small but favorable product improvement that may help user engagement. A small Roku TV update brought a popular feature back to your home screen
• Neutral Sentiment: Zacks included Roku among broadcast and TV stocks to watch, noting the company benefits from higher content consumption and steady digital viewing, but also faces tough advertising competition. 4 Broadcast Radio & TV Stocks to Watch From a Challenging Industry
• Neutral Sentiment: Several articles focused on Roku alternatives, promotional pricing, and accessory deals, which are mostly consumer-interest pieces and unlikely to materially move the stock on their own. Want a Roku alternative? These are my 4 other favorite TV OS options, and I’ve tried them all
• Negative Sentiment: There were also reports that a recent YouTube TV update is causing unexpected problems and degraded performance on Roku devices, which could be a short-term headwind for user experience. It’s not just you: YouTube TV update reportedly degrades performance on Roku devices

Roku Price Performance

ROKU opened at $135.95 on Thursday. The firm has a fifty day moving average price of $124.73 and a 200 day moving average price of $108.67. Roku, Inc. has a 1 year low of $78.53 and a 1 year high of $148.88. The stock has a market cap of $20.04 billion, a P/E ratio of 102.22 and a beta of 2.06.

Roku (NASDAQ:ROKU) last announced its quarterly earnings results on Thursday, April 30th. The company reported $0.57 earnings per share (EPS) for the quarter, topping 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 firm’s quarterly revenue was up 22.4% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.19) earnings per share. Equities analysts expect that Roku, Inc. will post 2.41 EPS for the current 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.