Choreo LLC Takes $754,000 Position in Roblox Co. (NYSE:RBLX)

Choreo LLC acquired a new position in shares of Roblox Co. (NYSE:RBLX) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 20,348 shares of the company’s stock, valued at approximately $754,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in RBLX. Swedbank AB grew its position in shares of Roblox by 0.5% during the 2nd quarter. Swedbank AB now owns 53,297 shares of the company’s stock worth $1,983,000 after buying an additional 285 shares during the period. Thrive Wealth Management LLC boosted its stake in Roblox by 4.3% during the 2nd quarter. Thrive Wealth Management LLC now owns 7,358 shares of the company’s stock worth $274,000 after acquiring an additional 300 shares during the last quarter. Mystic Asset Management Inc. grew its holdings in Roblox by 4.0% during the first quarter. Mystic Asset Management Inc. now owns 8,550 shares of the company’s stock valued at $326,000 after purchasing an additional 325 shares during the period. Center for Financial Planning Inc. increased its stake in Roblox by 2.3% in the second quarter. Center for Financial Planning Inc. now owns 17,722 shares of the company’s stock valued at $659,000 after purchasing an additional 400 shares in the last quarter. Finally, Gilliland Jeter Wealth Management LLC increased its stake in Roblox by 102.4% in the second quarter. Gilliland Jeter Wealth Management LLC now owns 1,000 shares of the company’s stock valued at $37,000 after purchasing an additional 506 shares in the last quarter. Institutional investors own 91.08% of the company’s stock.

Roblox Price Performance

NYSE:RBLX opened at $45.87 on Friday. The stock’s 50-day simple moving average is $41.20 and its 200 day simple moving average is $38.18. Roblox Co. has a 52-week low of $24.88 and a 52-week high of $47.20. The company has a debt-to-equity ratio of 9.04, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market cap of $27.45 billion, a P/E ratio of -24.66 and a beta of 1.60.

Roblox (NYSE:RBLX) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.07. The company had revenue of $893.50 million for the quarter, compared to analysts’ expectations of $897.88 million. Roblox had a negative return on equity of 1,187.59% and a negative net margin of 34.12%. The business’s revenue was up 31.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.46) EPS. As a group, sell-side analysts forecast that Roblox Co. will post -1.59 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Michael Guthrie sold 30,000 shares of Roblox stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $37.82, for a total transaction of $1,134,600.00. Following the completion of the transaction, the chief financial officer now owns 374,633 shares in the company, valued at $14,168,620.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Roblox news, CFO Michael Guthrie sold 30,000 shares of the stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $37.82, for a total value of $1,134,600.00. Following the transaction, the chief financial officer now directly owns 374,633 shares of the company’s stock, valued at approximately $14,168,620.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Gregory Baszucki sold 13,000 shares of the stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $36.67, for a total value of $476,710.00. Following the transaction, the director now owns 9,721,603 shares in the company, valued at approximately $356,491,182.01. The disclosure for this sale can be found here. Over the last three months, insiders have sold 608,675 shares of company stock valued at $25,410,923. 22.15% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on RBLX. The Goldman Sachs Group boosted their price target on shares of Roblox from $38.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Wedbush reissued an “outperform” rating and issued a $46.00 target price on shares of Roblox in a research note on Monday, July 29th. Roth Mkm lifted their price objective on Roblox from $35.00 to $42.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Wells Fargo & Company boosted their price objective on Roblox from $41.00 to $43.00 and gave the company an “overweight” rating in a research report on Monday, July 8th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $56.00 target price on shares of Roblox in a research note on Tuesday, July 30th. Eight investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.40.

About Roblox

Roblox Corporation develops and operates an online entertainment platform in the United States and internationally. It offers Roblox Studio, a free toolset that allows developers and creators to build, publish, and operate 3D experiences, and other content; Roblox Client, an application that allows users to explore 3D experience; and Roblox Cloud, which provides services and infrastructure that power the platform.