Azzad Asset Management Inc. ADV Makes New $239,000 Investment in Roblox Co. (NYSE:RBLX)

Azzad Asset Management Inc. ADV acquired a new position in Roblox Co. (NYSE:RBLX) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 5,401 shares of the company’s stock, valued at approximately $239,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Schroder Investment Management Group grew its stake in shares of Roblox by 2.5% during the fourth quarter. Schroder Investment Management Group now owns 521,528 shares of the company’s stock valued at $23,844,000 after buying an additional 12,738 shares during the last quarter. Quadrature Capital Ltd bought a new stake in Roblox in the fourth quarter valued at approximately $1,363,000. Balyasny Asset Management L.P. boosted its stake in shares of Roblox by 80.2% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,752,393 shares of the company’s stock valued at $80,119,000 after purchasing an additional 779,808 shares during the period. Alta Park Capital LP bought a new position in shares of Roblox in the fourth quarter worth approximately $21,584,000. Finally, Bornite Capital Management LP purchased a new position in shares of Roblox in the fourth quarter worth $4,572,000. Institutional investors own 91.08% of the company’s stock.

Insider Transactions at Roblox

In related news, Director Gregory Baszucki sold 13,000 shares of the stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $47.75, for a total transaction of $620,750.00. Following the sale, the director now directly owns 9,662,103 shares of the company’s stock, valued at $461,365,418.25. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Arvind Chakravarthy sold 592 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $43.32, for a total transaction of $25,645.44. Following the completion of the sale, the insider now owns 276,892 shares in the company, valued at approximately $11,994,961.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gregory Baszucki sold 13,000 shares of the stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $47.75, for a total value of $620,750.00. Following the completion of the transaction, the director now directly owns 9,662,103 shares in the company, valued at approximately $461,365,418.25. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 762,341 shares of company stock worth $32,788,526 over the last quarter. 22.15% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

RBLX has been the topic of a number of recent analyst reports. Roth Mkm raised their price target on shares of Roblox from $35.00 to $42.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Wolfe Research initiated coverage on Roblox in a research note on Tuesday, July 16th. They issued a “peer perform” rating on the stock. BMO Capital Markets reaffirmed an “outperform” rating and set a $56.00 price target on shares of Roblox in a research report on Tuesday, July 30th. The Goldman Sachs Group lifted their price objective on Roblox from $38.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Finally, Wells Fargo & Company upped their target price on Roblox from $41.00 to $43.00 and gave the company an “overweight” rating in a report on Monday, July 8th. Eight equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Roblox currently has an average rating of “Moderate Buy” and an average target price of $44.81.

Roblox Stock Performance

Shares of Roblox stock opened at $40.51 on Wednesday. The stock has a market cap of $23.95 billion, a price-to-earnings ratio of -21.78 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 Co. has a 1 year low of $29.55 and a 1 year high of $48.43. The firm’s 50-day moving average is $42.62 and its 200 day moving average is $38.74.

Roblox (NYSE:RBLX) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.32) EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $893.50 million for the quarter, compared to analysts’ expectations of $897.88 million. During the same quarter in the prior 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. Sell-side analysts anticipate that Roblox Co. will post -1.59 EPS for the current fiscal year.

Roblox Company Profile

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.