Private Advisor Group LLC Reduces Stake in Roblox Co. (NYSE:RBLX)

Private Advisor Group LLC lessened its stake in shares of Roblox Co. (NYSE:RBLX) by 7.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 54,260 shares of the company’s stock after selling 4,258 shares during the period. Private Advisor Group LLC’s holdings in Roblox were worth $2,402,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. V Square Quantitative Management LLC purchased a new position in Roblox in the third quarter worth approximately $27,000. PARK CIRCLE Co acquired a new stake in shares of Roblox during the 2nd quarter worth about $30,000. Strategic Financial Concepts LLC purchased a new stake in Roblox in the 2nd quarter valued at about $33,000. Gilliland Jeter Wealth Management LLC raised its holdings in Roblox by 102.4% in the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 1,000 shares of the company’s stock valued at $37,000 after buying an additional 506 shares during the period. Finally, Washington Trust Advisors Inc. purchased a new position in Roblox during the first quarter worth about $39,000. Institutional investors and hedge funds own 91.08% of the company’s stock.

Analysts Set New Price Targets

RBLX has been the topic of several recent analyst reports. Macquarie upped their price objective on shares of Roblox from $46.00 to $50.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Roth Mkm raised their price target on Roblox from $35.00 to $42.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Jefferies Financial Group started coverage on Roblox in a report on Thursday, July 11th. They issued a “hold” rating and a $42.00 price objective on the stock. Wedbush restated an “outperform” rating and set a $49.00 target price on shares of Roblox in a report on Friday. Finally, Piper Sandler lifted their target price on Roblox from $48.00 to $54.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Eight research 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 stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $46.75.

Insider Buying and Selling

In other Roblox 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 transaction, the chief accounting officer now owns 99,617 shares of the company’s stock, valued at approximately $4,019,545.95. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CFO Michael Guthrie sold 30,000 shares of the 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 $14,543,253.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amy Marie Rawlings sold 4,933 shares of Roblox stock in a transaction on Tuesday, August 20th. The shares were 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 approximately $4,019,545.95. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 779,341 shares of company stock worth $33,831,012 in the last ninety days. 22.15% of the stock is owned by corporate insiders.

Roblox Trading Up 0.4 %

NYSE:RBLX opened at $42.31 on Tuesday. The company has a debt-to-equity ratio of 9.04, a quick ratio of 1.03 and a current ratio of 1.03. Roblox Co. has a 1 year low of $29.55 and a 1 year high of $48.43. The stock has a market cap of $25.32 billion, a P/E ratio of -24.60 and a beta of 1.60. The stock has a 50-day simple moving average of $43.32 and a 200-day simple moving average of $39.09.

Roblox (NYSE:RBLX) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.39) by $0.07. The company had revenue of $893.50 million for the quarter, compared to analyst estimates of $897.88 million. Roblox had a negative net margin of 34.12% and a negative return on equity of 1,187.59%. The firm’s revenue was up 31.2% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.46) earnings per share. As a group, analysts anticipate that Roblox Co. will post -1.57 earnings per share for the current fiscal 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.