Wealth Enhancement Advisory Services LLC Raises Position in Roblox Co. (NYSE:RBLX)

Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Roblox Co. (NYSE:RBLX) by 1.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 35,249 shares of the company’s stock after purchasing an additional 398 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Roblox were worth $2,040,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in RBLX. Versant Capital Management Inc boosted its holdings in shares of Roblox by 83.9% in the 4th quarter. Versant Capital Management Inc now owns 524 shares of the company’s stock valued at $30,000 after purchasing an additional 239 shares during the last quarter. V Square Quantitative Management LLC purchased a new position in shares of Roblox in the 3rd quarter worth $27,000. Frazier Financial Advisors LLC boosted its holdings in Roblox by 20,800.0% in the third quarter. Frazier Financial Advisors LLC now owns 627 shares of the company’s stock valued at $28,000 after acquiring an additional 624 shares during the last quarter. GAMMA Investing LLC grew its position in Roblox by 132.8% during the third quarter. GAMMA Investing LLC now owns 929 shares of the company’s stock valued at $41,000 after acquiring an additional 530 shares during the period. Finally, Huntington National Bank increased its stake in Roblox by 277.0% during the third quarter. Huntington National Bank now owns 1,048 shares of the company’s stock worth $46,000 after acquiring an additional 770 shares during the last quarter. Hedge funds and other institutional investors own 94.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on RBLX. Wedbush reaffirmed an “outperform” rating and issued a $49.00 price objective on shares of Roblox in a research note on Friday, October 25th. The Goldman Sachs Group lifted their price target on shares of Roblox from $45.00 to $55.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. BMO Capital Markets reissued an “outperform” rating and issued a $62.00 price objective (up previously from $56.00) on shares of Roblox in a research report on Friday, November 1st. Benchmark lifted their target price on shares of Roblox from $44.00 to $60.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Raymond James reiterated a “strong-buy” rating and issued a $60.00 price target on shares of Roblox in a report on Friday, November 22nd. Seven investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $56.62.

Roblox Stock Performance

Shares of Roblox stock opened at $62.20 on Wednesday. The company has a debt-to-equity ratio of 5.64, a quick ratio of 0.98 and a current ratio of 0.98. Roblox Co. has a 1 year low of $29.55 and a 1 year high of $63.58. The firm’s 50-day simple moving average is $56.39 and its 200-day simple moving average is $47.12. The firm has a market cap of $37.79 billion, a PE ratio of -37.93 and a beta of 1.43.

Roblox (NYSE:RBLX) last announced its quarterly earnings data on Thursday, October 31st. The company reported ($0.37) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.39) by $0.02. Roblox had a negative return on equity of 986.36% and a negative net margin of 30.90%. The firm had revenue of $919.00 million for the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the prior year, the firm posted ($0.45) earnings per share. Roblox’s revenue for the quarter was up 9.5% compared to the same quarter last year. Equities analysts forecast that Roblox Co. will post -1.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO David Baszucki sold 166,668 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $42.15, for a total transaction of $7,025,056.20. Following the completion of the transaction, the chief executive officer now owns 135,755 shares in the company, valued at $5,722,073.25. The trade was a 55.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Amy Marie Rawlings sold 2,186 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $52.90, for a total value of $115,639.40. Following the completion of the sale, the chief accounting officer now directly owns 91,062 shares in the company, valued at $4,817,179.80. This represents a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,254,601 shares of company stock worth $65,622,735 over the last ninety days. 22.15% of the stock is owned by insiders.

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.