Roblox Co. (NYSE:RBLX) Position Lifted by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC raised its stake in shares of Roblox Co. (NYSE:RBLX) by 40.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,853 shares of the company’s stock after acquiring an additional 4,285 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Roblox were worth $553,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Principal Securities Inc. acquired a new stake in shares of Roblox during the fourth quarter worth $59,000. Dimensional Fund Advisors LP raised its holdings in shares of Roblox by 15.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 442,836 shares of the company’s stock worth $20,250,000 after purchasing an additional 59,327 shares during the period. Janney Montgomery Scott LLC raised its holdings in shares of Roblox by 85.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 13,235 shares of the company’s stock worth $605,000 after purchasing an additional 6,082 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of Roblox by 22.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 13,697 shares of the company’s stock worth $626,000 after acquiring an additional 2,487 shares during the period. Finally, Gladstone Institutional Advisory LLC acquired a new stake in shares of Roblox in the 4th quarter worth about $259,000. 91.08% of the stock is currently owned by institutional investors.

Roblox Stock Performance

Shares of RBLX opened at $46.03 on Friday. Roblox Co. has a one year low of $24.88 and a one year high of $47.49. The company has a 50-day moving average of $41.83 and a two-hundred day moving average of $38.37. The stock has a market cap of $27.22 billion, a price-to-earnings ratio of -24.75 and a beta of 1.60. The company has a debt-to-equity ratio of 9.04, a current ratio of 1.03 and a quick ratio of 1.03.

Roblox (NYSE:RBLX) last announced its earnings results on Thursday, August 1st. The company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.39) by $0.07. Roblox had a negative net margin of 34.12% and a negative return on equity of 1,187.59%. The company had revenue of $893.50 million during the quarter, compared to analysts’ expectations of $897.88 million. During the same period last year, the company posted ($0.46) earnings per share. The business’s revenue for the quarter was up 31.2% on a year-over-year basis. On average, equities research analysts expect that Roblox Co. will post -1.59 earnings per share for the current year.

Insider Transactions at Roblox

In other news, CFO Michael Guthrie sold 30,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now directly owns 374,633 shares of the company’s stock, valued at $14,168,620.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Michael Guthrie sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $37.82, for a total transaction of $1,134,600.00. Following the transaction, the chief financial officer now owns 374,633 shares of the company’s stock, valued at $14,168,620.06. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Mark Reinstra sold 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $40.00, for a total transaction of $480,000.00. Following the transaction, the insider now directly owns 342,656 shares in the company, valued at approximately $13,706,240. The disclosure for this sale can be found here. Insiders sold 775,341 shares of company stock valued at $33,004,226 over the last three months. 22.15% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Wells Fargo & Company increased their price objective on shares of Roblox from $41.00 to $43.00 and gave the stock an “overweight” rating in a report on Monday, July 8th. Wedbush reaffirmed an “outperform” rating and issued a $46.00 price objective on shares of Roblox in a report on Monday, July 29th. The Goldman Sachs Group increased their price objective on shares of Roblox from $38.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Roblox from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, Needham & Company LLC raised their target price on shares of Roblox from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Eight investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to 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.