Calamos Advisors LLC Acquires 51,627 Shares of Roku, Inc. $ROKU

by · The Cerbat Gem

Calamos Advisors LLC grew its holdings in shares of Roku, Inc. (NASDAQ:ROKU – Free Report) by 15.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 376,627 shares of the company’s stock after purchasing an additional 51,627 shares during the quarter. Calamos Advisors LLC owned about 0.25% of Roku worth $57,353,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. 55 North Private Wealth LLC boosted its position in Roku by 4.8% during the third quarter. 55 North Private Wealth LLC now owns 1,592 shares of the company’s stock worth $242,000 after purchasing an additional 73 shares during the period. CX Institutional lifted its stake in shares of Roku by 44.1% in the third quarter. CX Institutional now owns 281 shares of the company’s stock worth $43,000 after buying an additional 86 shares during the last quarter. Apella Capital LLC lifted its stake in shares of Roku by 1.4% in the third quarter. Apella Capital LLC now owns 6,752 shares of the company’s stock worth $1,031,000 after buying an additional 93 shares during the last quarter. Quantum Portfolio Management LLC boosted its holdings in shares of Roku by 2.6% during the 1st quarter. Quantum Portfolio Management LLC now owns 4,135 shares of the company’s stock worth $391,000 after buying an additional 105 shares during the period. Finally, HB Wealth Management LLC boosted its holdings in shares of Roku by 3.7% during the 1st quarter. HB Wealth Management LLC now owns 3,447 shares of the company’s stock worth $326,000 after buying an additional 122 shares during the period. Institutional investors and hedge funds own 86.30% of the company’s stock.

Insider Activity

In other Roku news, insider Charles Collier sold 20,538 shares of the company’s stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $156.99, for a total value of $3,224,260.62. Following the completion of the transaction, the insider owned 22,700 shares of the company’s stock, valued at $3,563,673. This represents a 47.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Dan Jedda sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $156.81, for a total value of $1,097,670.00. Following the completion of the sale, the chief financial officer owned 74,811 shares of the company’s stock, valued at $11,731,112.91. This represents a 8.56% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 88,028 shares of company stock valued at $13,645,922. Corporate insiders own 13.45% of the company’s stock.

Roku Trading Up 0.1%

NASDAQ:ROKU traded up $0.15 during trading hours on Friday, hitting $160.52. 11,519,211 shares of the company traded hands, compared to its average volume of 2,390,983. Roku, Inc. has a twelve month low of $78.53 and a twelve month high of $163.57. The firm has a 50-day moving average of $155.33 and a 200 day moving average of $128.92. The stock has a market capitalization of $23.82 billion, a price-to-earnings ratio of 47.49 and a beta of 2.12.

Roku (NASDAQ:ROKU – Get Free Report) last posted its quarterly earnings results on Monday, November 2nd. The company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.65. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.41 billion. Roku had a net margin of 9.34% and a return on equity of 19.19%. The business’s quarterly revenue was up 24.1% on a year-over-year basis. During the same period last year, the business posted $0.16 EPS. Equities research analysts predict that Roku, Inc. will post 3.28 earnings per share for the current fiscal year.

Key Stories Impacting Roku

Here are the key news stories impacting Roku this week:

  • Positive Sentiment: Fox completed its reported $22 billion acquisition of Roku, combining Roku’s streaming platform with Fox’s media and advertising business. Fox expects the transaction to create more opportunities to reach audiences and serve advertising partners, while also expanding the reach of its sports and news programming. Fox completes its $22B acquisition of Roku
  • Neutral Sentiment: The acquisition’s completion means Roku will no longer trade on Nasdaq as of Friday. Investors should view ROKU’s immediate trading implications in light of the completed transaction, rather than solely as a bet on Roku’s future as an independent company. Fox Corp. Closes $22B Acquisition Of Roku
  • Neutral Sentiment: Roku head Charlie Collier and Tubi CEO Anjali Sud are departing, with Paul Cheesbrough named CEO of Fox Digital Platforms. The leadership changes signal a reshaping of Fox’s combined digital operation, though the reports provide no details on the expected financial impact. Fox Digital Platforms leadership changes

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Citigroup upped their price target on shares of Roku from $120.00 to $157.00 and gave the company a “neutral” rating in a report on Friday, July 17th. UBS Group lifted their price objective on Roku from $126.00 to $172.00 and gave the stock a “neutral” rating in a research note on Friday, August 7th. Guggenheim cut Roku from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $145.00 to $160.00 in a research report on Friday, August 7th. Rosenblatt Securities downgraded Roku from a “buy” rating to a “hold” rating and set a $160.00 target price for the company. in a research note on Tuesday. Finally, Wedbush reaffirmed a “neutral” rating and issued a $155.00 target price on shares of Roku in a report on Thursday, September 24th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eighteen have given a Hold rating to the company. Based on data from MarketBeat, Roku presently has an average rating of “Hold” and a consensus target price of $156.17.

Check Out Our Latest Analysis on Roku

About Roku

(Free Report)

Roku, Inc (NASDAQ: ROKU) operates a television streaming platform that connects consumers with digital entertainment. The company develops and licenses Roku OS, an operating system for smart televisions and streaming devices, and offers Roku-branded streaming players, Roku TVs, audio products and related accessories.

Roku also operates a platform business that distributes streaming content through its interface and supports content discovery, subscriptions and digital advertising. Its services include The Roku Channel, which provides a selection of ad-supported and premium entertainment, as well as tools that enable content providers and advertisers to reach streaming audiences.

Founded in 2002 by Anthony Wood, Roku initially became known for its streaming players and later expanded through partnerships with television manufacturers.

Further Reading

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