Axxcess Wealth Management LLC Increases Holdings in Roblox Co. (NYSE:RBLX)

Axxcess Wealth Management LLC raised its stake in shares of Roblox Co. (NYSE:RBLXGet Rating) by 12.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,451 shares of the company’s stock after buying an additional 1,569 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Roblox were worth $475,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Highlander Capital Management LLC purchased a new position in shares of Roblox in the first quarter worth $25,000. FinTrust Capital Advisors LLC raised its stake in shares of Roblox by 412.0% in the second quarter. FinTrust Capital Advisors LLC now owns 640 shares of the company’s stock worth $25,000 after purchasing an additional 515 shares during the last quarter. 1832 Asset Management L.P. purchased a new position in shares of Roblox in the first quarter worth $32,000. RE Dickinson Investment Advisors LLC purchased a new position in shares of Roblox in the first quarter worth $33,000. Finally, Truvestments Capital LLC purchased a new position in shares of Roblox in the second quarter worth $35,000. Hedge funds and other institutional investors own 69.35% of the company’s stock.

Roblox Price Performance

NYSE:RBLX opened at $32.00 on Thursday. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 2.33. The company has a market capitalization of $17.58 billion, a P/E ratio of -24.24 and a beta of 1.87. Roblox Co. has a 12 month low of $21.65 and a 12 month high of $137.71. The business’s 50-day moving average is $38.47 and its 200 day moving average is $37.57.

Insider Buying and Selling

In related news, CAO Amy Marie Rawlings sold 2,976 shares of the business’s stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $30.14, for a total value of $89,696.64. Following the sale, the chief accounting officer now directly owns 93,923 shares in the company, valued at $2,830,839.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Roblox news, CTO Daniel Sturman sold 9,804 shares of the company’s stock in a transaction that occurred on Monday, November 21st. The stock was sold at an average price of $30.14, for a total transaction of $295,492.56. Following the sale, the chief technology officer now directly owns 364,368 shares in the company, valued at $10,982,051.52. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Amy Marie Rawlings sold 2,976 shares of the company’s stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $30.14, for a total value of $89,696.64. Following the sale, the chief accounting officer now owns 93,923 shares in the company, valued at $2,830,839.22. The disclosure for this sale can be found here. Over the last three months, insiders have sold 58,457 shares of company stock worth $2,187,836. Corporate insiders own 28.22% of the company’s stock.

Analyst Ratings Changes

RBLX has been the subject of several recent analyst reports. Barclays initiated coverage on Roblox in a research note on Tuesday, October 11th. They issued an “underweight” rating and a $20.00 price target for the company. Cowen reduced their price objective on Roblox to $27.00 in a research report on Tuesday, November 15th. Wolfe Research initiated coverage on Roblox in a research report on Tuesday, August 16th. They set a “market perform” rating for the company. Wedbush reduced their price objective on Roblox from $36.00 to $33.00 in a research report on Wednesday, November 9th. Finally, Stifel Nicolaus reduced their price objective on Roblox from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday, October 18th. Five research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $40.96.

Roblox Company Profile

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Roblox Corporation develops and operates an online entertainment platform. The company 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 digital world; Roblox Education for learning experiences; and Roblox Cloud, which provides services and infrastructure that power the human co-experience platform.

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Institutional Ownership by Quarter for Roblox (NYSE:RBLX)

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