Roblox Co. (NYSE:RBLX) Position Increased by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC raised its holdings in shares of Roblox Co. (NYSE:RBLX) by 94.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,404 shares of the company’s stock after buying an additional 8,939 shares during the period. Janney Montgomery Scott LLC’s holdings in Roblox were worth $815,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. V Square Quantitative Management LLC purchased a new stake in shares of Roblox in the 3rd quarter valued at approximately $27,000. PARK CIRCLE Co purchased a new stake in shares of Roblox in the 2nd quarter valued at approximately $30,000. GAMMA Investing LLC lifted its position in shares of Roblox by 132.8% in the 3rd quarter. GAMMA Investing LLC now owns 929 shares of the company’s stock valued at $41,000 after acquiring an additional 530 shares in the last quarter. Gilliland Jeter Wealth Management LLC lifted its position in shares of 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 acquiring an additional 506 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Roblox by 98.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,102 shares of the company’s stock valued at $42,000 after acquiring an additional 548 shares in the last quarter. 91.08% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on RBLX shares. Needham & Company LLC upped their price target on shares of Roblox from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. increased their target price on shares of Roblox from $51.00 to $62.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Roth Mkm increased their target price on shares of Roblox from $35.00 to $42.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Piper Sandler increased their target price on shares of Roblox from $54.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Finally, Macquarie increased their target price on shares of Roblox from $50.00 to $58.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Seven equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Roblox currently has an average rating of “Moderate Buy” and an average price target of $55.30.

Insiders Place Their Bets

In other Roblox news, CFO Michael Guthrie sold 21,789 shares of the firm’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $40.35, for a total value of $879,186.15. Following the sale, the chief financial officer now directly owns 352,844 shares in the company, valued at $14,237,255.40. This trade represents a 5.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO David Baszucki sold 6,499 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $40.35, for a total transaction of $262,234.65. Following the completion of the sale, the chief executive officer now owns 135,761 shares in the company, valued at $5,477,956.35. This represents a 4.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 970,373 shares of company stock worth $44,143,589 in the last ninety days. Insiders own 22.15% of the company’s stock.

Roblox Stock Performance

NYSE:RBLX opened at $50.73 on Monday. Roblox Co. has a 1 year low of $29.55 and a 1 year high of $55.10. The firm’s fifty day simple moving average is $45.43 and its 200 day simple moving average is $40.56. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 5.64. The firm has a market capitalization of $30.82 billion, a PE ratio of -30.93 and a beta of 1.56.

Roblox (NYSE:RBLX) last posted its earnings results on Thursday, October 31st. The company reported ($0.37) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.02. Roblox had a negative net margin of 30.90% and a negative return on equity of 986.36%. The business had revenue of $919.00 million for the quarter, compared to analyst estimates of $1.02 billion. During the same period last year, the business posted ($0.45) EPS. Roblox’s revenue was up 9.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Roblox Co. will post -1.56 EPS for the current year.

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.