Lazard Asset Management LLC Has $9.10 Million Stake in Roku, Inc. $ROKU

Lazard Asset Management LLC boosted its stake in shares of Roku, Inc. (NASDAQ:ROKU) by 31.6% in the first quarter, Holdings Channel reports. The firm owned 96,204 shares of the company’s stock after acquiring an additional 23,092 shares during the period. Lazard Asset Management LLC’s holdings in Roku were worth $9,103,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Ardmore Road Asset Management LP raised its holdings in Roku by 130.2% in the 1st quarter. Ardmore Road Asset Management LP now owns 120,000 shares of the company’s stock worth $11,354,000 after acquiring an additional 67,870 shares during the period. Weiss Asset Management LP bought a new position in shares of Roku in the first quarter worth about $447,000. OMERS ADMINISTRATION Corp lifted its position in shares of Roku by 62.8% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 26,439 shares of the company’s stock worth $2,502,000 after purchasing an additional 10,200 shares during the last quarter. Alua Capital Management LP bought a new stake in Roku during the 1st quarter valued at approximately $44,869,000. Finally, Entropy Technologies LP increased its position in Roku by 56.3% in the 1st quarter. Entropy Technologies LP now owns 29,103 shares of the company’s stock worth $2,754,000 after buying an additional 10,488 shares during the period. Institutional investors own 86.30% of the company’s stock.

Roku Stock Up 1.0%

Shares of ROKU stock opened at $145.33 on Thursday. The company has a market capitalization of $21.43 billion, a P/E ratio of 109.27 and a beta of 2.01. Roku, Inc. has a 12-month low of $78.53 and a 12-month high of $148.88. The firm has a 50-day moving average price of $135.66 and a 200 day moving average price of $114.40.

Roku (NASDAQ:ROKU) last issued 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 firm had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Roku had a net margin of 4.06% and a return on equity of 7.64%. The company’s quarterly revenue 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. As a group, research analysts expect that Roku, Inc. will post 2.41 earnings per share for the current year.

Analyst Upgrades and Downgrades

ROKU has been the subject of a number of research reports. Weiss Ratings reissued a “hold (c-)” rating on shares of Roku in a report on Friday, May 15th. Oppenheimer lowered Roku from an “outperform” rating to a “market perform” rating in a report on Monday, June 15th. Piper Sandler cut Roku from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $148.00 to $160.00 in a research report on Tuesday, June 16th. Wells Fargo & Company boosted their price target on shares of Roku from $137.00 to $167.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Finally, Jefferies Financial Group lowered shares of Roku from a “buy” rating to a “hold” rating and set a $160.00 price target for the company. in a research report on Monday, June 15th. Ten investment analysts have rated the stock with a Buy rating and seventeen have given a Hold rating to the company. According to data from MarketBeat.com, Roku presently has an average rating of “Hold” and an average price target of $155.12.

Insiders Place Their Bets

In other Roku news, CEO Anthony J. Wood sold 75,000 shares of Roku stock in a transaction on Monday, May 11th. The stock was sold at an average price of $128.79, for a total value of $9,659,250.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Charles Collier sold 20,538 shares of the stock in a transaction on Monday, May 4th. The stock was sold at an average price of $124.23, for a total value of $2,551,435.74. Following the sale, the insider owned 7,700 shares in the company, valued at $956,571. The trade was a 72.73% 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. Insiders sold 236,499 shares of company stock worth $30,582,963 over the last ninety days. 13.45% of the stock is owned by insiders.

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.