Itau Unibanco Holding S.A. Increases Stake in Roblox Co. (NYSE:RBLX)

Itau Unibanco Holding S.A. raised its position in shares of Roblox Co. (NYSE:RBLX) by 62.0% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 37,482 shares of the company’s stock after purchasing an additional 14,348 shares during the quarter. Itau Unibanco Holding S.A.’s holdings in Roblox were worth $1,395,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Dimensional Fund Advisors LP raised its stake in shares of Roblox by 15.5% in 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 last quarter. Janney Montgomery Scott LLC raised its position in Roblox by 85.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 13,235 shares of the company’s stock worth $605,000 after buying an additional 6,082 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Roblox by 22.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 13,697 shares of the company’s stock valued at $626,000 after acquiring an additional 2,487 shares during the period. Gladstone Institutional Advisory LLC purchased a new stake in shares of Roblox during the 4th quarter valued at about $259,000. Finally, US Bancorp DE grew its stake in shares of Roblox by 34.8% in the fourth quarter. US Bancorp DE now owns 65,289 shares of the company’s stock worth $2,985,000 after acquiring an additional 16,869 shares during the period. 91.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. The Goldman Sachs Group increased their price objective on shares of Roblox from $38.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Wells Fargo & Company increased their price target on Roblox from $41.00 to $43.00 and gave the company an “overweight” rating in a report on Monday, July 8th. Jefferies Financial Group began coverage on Roblox in a report on Thursday, July 11th. They issued a “hold” rating and a $42.00 price objective for the company. BTIG Research upped their price objective on Roblox from $47.00 to $51.00 and gave the company a “buy” rating in a research report on Monday, September 9th. Finally, Needham & Company LLC raised their target price on Roblox from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Eight research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $44.40.

Roblox Stock Performance

Shares of NYSE RBLX opened at $46.03 on Friday. The stock has a market cap of $27.22 billion, a PE ratio of -24.75 and a beta of 1.60. Roblox Co. has a 1 year low of $24.88 and a 1 year high of $47.49. The firm has a fifty day moving average price of $41.83 and a 200-day moving average price of $38.37. 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 issued its quarterly earnings results 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. Roblox had a negative return on equity of 1,187.59% and a negative net margin of 34.12%. The business had revenue of $893.50 million during the quarter, compared to analyst estimates of $897.88 million. During the same quarter in the prior year, the business posted ($0.46) EPS. Roblox’s revenue for the quarter was up 31.2% compared to the same quarter last year. Equities analysts anticipate that Roblox Co. will post -1.59 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO David Baszucki sold 166,666 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $45.56, for a total value of $7,593,302.96. Following the transaction, the chief executive officer now directly owns 135,755 shares of the company’s stock, valued at approximately $6,184,997.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CAO Amy Marie Rawlings sold 4,933 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $40.35, for a total transaction of $199,046.55. Following the completion of the transaction, the chief accounting officer now owns 99,617 shares in the company, valued at $4,019,545.95. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO David Baszucki sold 166,666 shares of Roblox stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $45.56, for a total value of $7,593,302.96. Following the completion of the sale, the chief executive officer now directly owns 135,755 shares in the company, valued at $6,184,997.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 775,341 shares of company stock worth $33,004,226. 22.15% of the stock is owned by corporate insiders.

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.