Truist Financial Corp Takes $559,000 Position in Roblox Co. (NYSE:RBLX)

Truist Financial Corp acquired a new position in shares of Roblox Co. (NYSE:RBLX) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 15,036 shares of the company’s stock, valued at approximately $559,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Swedbank AB grew its holdings 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 purchasing an additional 285 shares in the last quarter. Thrive Wealth Management LLC increased its holdings in Roblox by 4.3% in the 2nd quarter. Thrive Wealth Management LLC now owns 7,358 shares of the company’s stock valued at $274,000 after buying an additional 300 shares during the period. Mystic Asset Management Inc. raised its position in shares of Roblox by 4.0% in the 1st quarter. Mystic Asset Management Inc. now owns 8,550 shares of the company’s stock valued at $326,000 after buying an additional 325 shares in the last quarter. Center for Financial Planning Inc. lifted its holdings in shares of Roblox by 2.3% during the 2nd quarter. Center for Financial Planning Inc. now owns 17,722 shares of the company’s stock worth $659,000 after acquiring an additional 400 shares during the period. Finally, AlTi Global Inc. boosted its position in shares of Roblox by 8.1% during the 2nd quarter. AlTi Global Inc. now owns 5,917 shares of the company’s stock worth $220,000 after acquiring an additional 445 shares in the last quarter. Institutional investors own 91.08% of the company’s stock.

Analyst Ratings Changes

RBLX has been the subject of several recent analyst reports. Piper Sandler upped their target price on Roblox from $48.00 to $54.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Barclays raised their price objective on Roblox from $35.00 to $40.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Wells Fargo & Company boosted their target price on Roblox from $46.00 to $54.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Benchmark lifted their price target on shares of Roblox from $40.00 to $44.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, Jefferies Financial Group began coverage on shares of Roblox in a research note on Thursday, July 11th. They issued a “hold” rating and a $42.00 price objective for the company. Eight analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Roblox currently has an average rating of “Moderate Buy” and a consensus target price of $46.14.

Insiders Place Their Bets

In related news, CFO Michael Guthrie sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $38.82, for a total transaction of $1,164,600.00. Following the transaction, the chief financial officer now directly owns 374,633 shares of the company’s stock, valued at approximately $14,543,253.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Roblox news, CFO Michael Guthrie sold 30,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $38.82, for a total transaction of $1,164,600.00. Following the completion of the sale, the chief financial officer now owns 374,633 shares in the company, valued at approximately $14,543,253.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Gregory Baszucki sold 13,000 shares of the firm’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $47.75, for a total transaction of $620,750.00. Following the completion of the transaction, the director now directly owns 9,662,103 shares in the company, valued at $461,365,418.25. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 625,673 shares of company stock worth $27,331,806. 22.15% of the stock is currently owned by company insiders.

Roblox Stock Performance

RBLX stock opened at $40.77 on Wednesday. Roblox Co. has a 1-year low of $29.55 and a 1-year high of $48.43. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 9.04. The stock has a 50-day moving average price of $42.87 and a 200-day moving average price of $38.89. The firm has a market cap of $24.11 billion, a PE ratio of -21.92 and a beta of 1.60.

Roblox (NYSE:RBLX) last posted 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. The firm 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 company’s revenue for the quarter was up 31.2% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.46) EPS. As a group, equities research analysts expect that Roblox Co. will post -1.59 earnings per share for the current year.

Roblox 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.