Federated Hermes Inc. Invests $3.06 Million in Roku, Inc. $ROKU

Federated Hermes Inc. acquired a new stake in Roku, Inc. (NASDAQ:ROKU) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 30,545 shares of the company’s stock, valued at approximately $3,058,000.

A number of other institutional investors have also recently bought and sold shares of ROKU. Tableaux LLC acquired a new position in shares of Roku in the 2nd quarter valued at $1,746,000. Acadian Asset Management LLC grew its stake in shares of Roku by 41.2% during the second quarter. Acadian Asset Management LLC now owns 2,691,643 shares of the company’s stock worth $236,545,000 after purchasing an additional 785,864 shares during the period. Duquesne Family Office LLC increased its holdings in Roku by 123.0% in the second quarter. Duquesne Family Office LLC now owns 1,100,500 shares of the company’s stock valued at $96,723,000 after purchasing an additional 606,900 shares during the last quarter. Ossiam acquired a new position in Roku in the second quarter valued at about $36,035,000. Finally, Man Group plc lifted its stake in Roku by 379.0% in the second quarter. Man Group plc now owns 456,708 shares of the company’s stock valued at $40,140,000 after buying an additional 361,357 shares during the period. Institutional investors and hedge funds own 86.30% of the company’s stock.

Roku Stock Down 2.4%

Roku stock opened at $93.88 on Wednesday. The company has a 50 day moving average of $105.27 and a 200-day moving average of $99.13. Roku, Inc. has a twelve month low of $52.43 and a twelve month high of $116.66. The stock has a market capitalization of $13.87 billion, a PE ratio of -469.38 and a beta of 1.99.

Insider Transactions at Roku

In other news, insider Charles Collier sold 14,361 shares of the business’s stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $94.99, for a total value of $1,364,151.39. Following the sale, the insider directly owned 200 shares in the company, valued at $18,998. The trade was a 98.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Neil D. Hunt sold 2,000 shares of the stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $96.18, for a total value of $192,360.00. Following the transaction, the director owned 7,782 shares of the company’s stock, valued at approximately $748,472.76. The trade was a 20.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 232,790 shares of company stock worth $24,685,299. Company insiders own 13.98% of the company’s stock.

Analyst Upgrades and Downgrades

ROKU has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Roku in a research note on Thursday, January 22nd. Benchmark restated a “buy” rating on shares of Roku in a report on Monday, October 27th. Piper Sandler raised shares of Roku from a “neutral” rating to an “overweight” rating and upped their target price for the company from $88.00 to $135.00 in a research note on Monday, November 3rd. Bank of America increased their target price on shares of Roku from $115.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, January 12th. Finally, Citizens Jmp reissued a “market outperform” rating and set a $145.00 price target on shares of Roku in a research report on Tuesday, December 2nd. Twenty-two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $119.29.

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.