Pictet Asset Management SA Raises Stake in Roku, Inc. (NASDAQ:ROKU)

Posted by on Feb 27th, 2023

Pictet Asset Management SA raised its holdings in shares of Roku, Inc. (NASDAQ:ROKU – Get Rating) by 1.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 39,270 shares of the company’s stock after acquiring an additional 718 shares during the period. Pictet Asset Management SA’s holdings in Roku were worth $2,214,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. MetLife Investment Management LLC acquired a new position in Roku during the first quarter valued at $955,000. Synovus Financial Corp lifted its holdings in shares of Roku by 45.2% in the 1st quarter. Synovus Financial Corp now owns 3,501 shares of the company’s stock valued at $448,000 after buying an additional 1,090 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Roku by 2.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 94,224 shares of the company’s stock valued at $11,806,000 after buying an additional 2,130 shares during the period. Cetera Investment Advisers boosted its stake in shares of Roku by 32.5% in the first quarter. Cetera Investment Advisers now owns 10,620 shares of the company’s stock worth $1,330,000 after buying an additional 2,605 shares during the last quarter. Finally, Brighton Jones LLC grew its holdings in Roku by 8.6% during the first quarter. Brighton Jones LLC now owns 1,874 shares of the company’s stock worth $235,000 after acquiring an additional 148 shares during the period. 66.11% of the stock is owned by hedge funds and other institutional investors.

Roku Price Performance

Shares of NASDAQ ROKU opened at $62.65 on Monday. Roku, Inc. has a 1 year low of $38.26 and a 1 year high of $141.93. The company has a market capitalization of $8.73 billion, a P/E ratio of -17.45 and a beta of 1.80. The company has a 50 day simple moving average of $52.70 and a 200-day simple moving average of $57.53.

Roku (NASDAQ:ROKU – Get Rating) last posted its earnings results on Wednesday, February 15th. The company reported ($1.70) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.74) by $0.04. The company had revenue of $867.06 million during the quarter, compared to analysts’ expectations of $803.32 million. Roku had a negative return on equity of 18.05% and a negative net margin of 15.93%. The firm’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.17 earnings per share. As a group, research analysts expect that Roku, Inc. will post -5.15 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on ROKU shares. Benchmark reaffirmed a “buy” rating and set a $65.00 price objective (up previously from $63.00) on shares of Roku in a research note on Monday, February 13th. Bank of America upgraded shares of Roku from an “underperform” rating to a “buy” rating and raised their price target for the company from $45.00 to $85.00 in a research report on Friday, February 17th. Needham & Company LLC reiterated a “buy” rating and issued a $80.00 price objective on shares of Roku in a research report on Friday. Oppenheimer raised their target price on Roku from $75.00 to $85.00 in a research report on Thursday, February 16th. Finally, Truist Financial lifted their price target on Roku from $50.00 to $70.00 in a research note on Thursday, February 16th. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Roku has an average rating of “Hold” and a consensus target price of $82.12.

Insider Buying and Selling at Roku

In other Roku news, SVP Stephen H. Kay sold 2,763 shares of Roku stock in a transaction dated Thursday, February 16th. The shares were sold at an average price of $75.00, for a total transaction of $207,225.00. Following the completion of the sale, the senior vice president now directly owns 78,527 shares in the company, valued at $5,889,525. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, SVP Gilbert Fuchsberg sold 2,040 shares of Roku stock in a transaction on Thursday, December 1st. The stock was sold at an average price of $59.16, for a total value of $120,686.40. Following the completion of the sale, the senior vice president now directly owns 32,645 shares of the company’s stock, valued at $1,931,278.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Stephen H. Kay sold 2,763 shares of the stock in a transaction dated Thursday, February 16th. The stock was sold at an average price of $75.00, for a total value of $207,225.00. Following the transaction, the senior vice president now directly owns 78,527 shares in the company, valued at approximately $5,889,525. The disclosure for this sale can be found here. 13.79% of the stock is currently owned by corporate insiders.

Roku Company Profile

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Roku, Inc engages in the provision of a streaming platform for television. It operates through the following business segments: Platform and Player. The Platform segment includes digital advertising and related services including the OneView ad platform, content distribution, and licensing arrangements with service operators and TV brands.

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Institutional Ownership by Quarter for Roku (NASDAQ:ROKU)

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