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

Legal & General Group Plc reduced its stake in shares of Roku, Inc. (NASDAQ:ROKU) by 26.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 136,876 shares of the company’s stock after selling 50,370 shares during the quarter. Legal & General Group Plc’s holdings in Roku were worth $14,850,000 at the end of the most recent reporting period.

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

Key Roku News

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

Analysts Set New Price Targets

A number of research firms have weighed in on ROKU. Stifel Nicolaus set a $160.00 target price on Roku in a report on Monday, March 2nd. Weiss Ratings restated a “hold (c-)” rating on shares of Roku in a research note on Friday, May 15th. Wedbush lifted their price target on Roku from $140.00 to $155.00 and gave the company an “outperform” rating in a research report on Friday, May 1st. Wells Fargo & Company upped their price target on Roku from $137.00 to $167.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Finally, Piper Sandler increased their price objective on Roku from $140.00 to $148.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Twenty-two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $144.46.

Insider Buying and Selling

In other Roku news, insider Gilbert Fuchsberg sold 9,593 shares of the business’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $125.52, for a total value of $1,204,113.36. Following the sale, the insider directly owned 50,863 shares of the company’s stock, valued at approximately $6,384,323.76. The trade was a 15.87% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Dan Jedda sold 15,000 shares of the firm’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $94.23, for a total value of $1,413,450.00. Following the transaction, the chief financial officer owned 85,115 shares of the company’s stock, valued at $8,020,386.45. The trade was a 14.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 681,358 shares of company stock worth $75,642,627 over the last three months. 13.45% of the stock is owned by corporate insiders.

Roku Stock Performance

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

Roku (NASDAQ:ROKU) last posted its quarterly earnings results 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. Roku had a return on equity of 7.64% and a net margin of 4.06%.The company had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the prior year, the business posted ($0.19) EPS. The firm’s quarterly revenue was up 22.4% compared to the same quarter last year. On average, analysts forecast that Roku, Inc. will post 2.41 earnings per share for the current fiscal 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.