Janney Montgomery Scott LLC Buys New Stake in Roku, Inc. $ROKU

Janney Montgomery Scott LLC purchased a new position in shares of Roku, Inc. (NASDAQ:ROKU) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 14,291 shares of the company’s stock, valued at approximately $1,352,000.

Several other large investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its stake in Roku by 10.6% during the fourth quarter. AQR Capital Management LLC now owns 2,860,149 shares of the company’s stock worth $310,298,000 after purchasing an additional 274,024 shares during the period. Geode Capital Management LLC increased its stake in shares of Roku by 7.3% in the fourth quarter. Geode Capital Management LLC now owns 2,464,130 shares of the company’s stock valued at $267,389,000 after buying an additional 168,214 shares in the last quarter. Holocene Advisors LP lifted its position in shares of Roku by 352.3% during the third quarter. Holocene Advisors LP now owns 1,650,448 shares of the company’s stock worth $165,259,000 after purchasing an additional 1,285,585 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in shares of Roku by 0.8% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,509,686 shares of the company’s stock valued at $163,786,000 after buying an additional 12,705 shares during the period. Finally, Fred Alger Management LLC lifted its position in Roku by 7,087.7% during the 4th quarter. Fred Alger Management LLC now owns 1,421,440 shares of the company’s stock valued at $154,212,000 after purchasing an additional 1,401,664 shares during the period. Institutional investors and hedge funds own 86.30% of the company’s stock.

Roku Price Performance

Shares of ROKU traded up $0.43 during midday trading on Friday, hitting $140.69. The stock had a trading volume of 1,881,481 shares, compared to its average volume of 8,113,601. The company has a 50 day simple moving average of $130.91 and a two-hundred day simple moving average of $111.41. Roku, Inc. has a twelve month low of $78.53 and a twelve month high of $148.88. The firm has a market cap of $20.74 billion, a price-to-earnings ratio of 105.78 and a beta of 2.01.

Roku (NASDAQ:ROKU) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.23. The company had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Roku had a return on equity of 7.64% and a net margin of 4.06%.Roku’s revenue for the quarter was up 22.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.19) earnings per share. Analysts forecast that Roku, Inc. will post 2.41 EPS for the current fiscal year.

Insider Transactions at Roku

In other Roku news, CFO Dan Jedda sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was 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 owned 79,963 shares of the company’s stock, valued at $11,504,276.81. This represents a 8.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mustafa Ozgen sold 10,194 shares of the firm’s stock in a transaction that occurred 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 $2,762,640. This 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. In the last three months, insiders have sold 477,737 shares of company stock worth $58,132,511. Corporate insiders own 13.45% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ROKU. Piper Sandler lowered shares of Roku from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $148.00 to $160.00 in a research note on Tuesday, June 16th. Pivotal Research restated a “buy” rating and issued a $160.00 price target (up from $140.00) on shares of Roku in a report on Friday, May 1st. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $160.00 price target (up from $150.00) on shares of Roku in a research report on Tuesday, June 16th. Citizens Jmp lowered Roku from a “market outperform” rating to a “hold” rating in a research report on Tuesday, June 16th. Finally, Guggenheim increased their target price on Roku from $140.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, June 9th. Eleven analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $153.71.

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.