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

Axxcess Wealth Management LLC grew its stake in shares of Roblox Co. (NYSE:RBLX) by 53.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,136 shares of the company’s stock after acquiring an additional 5,258 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Roblox were worth $692,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC bought a new stake in Roblox in the 4th quarter worth approximately $25,000. Blue Trust Inc. grew its holdings in shares of Roblox by 566.5% in the fourth quarter. Blue Trust Inc. now owns 1,073 shares of the company’s stock worth $49,000 after acquiring an additional 912 shares during the period. Allworth Financial LP increased its position in Roblox by 90.2% during the fourth quarter. Allworth Financial LP now owns 1,238 shares of the company’s stock valued at $57,000 after acquiring an additional 587 shares during the last quarter. Rakuten Securities Inc. purchased a new stake in Roblox during the fourth quarter valued at $58,000. Finally, Lindbrook Capital LLC lifted its holdings in Roblox by 74.7% in the fourth quarter. Lindbrook Capital LLC now owns 1,637 shares of the company’s stock valued at $75,000 after acquiring an additional 700 shares during the period. Hedge funds and other institutional investors own 91.08% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on RBLX. Barclays upgraded shares of Roblox from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $26.00 to $46.00 in a research report on Thursday, February 8th. Wedbush boosted their price objective on shares of Roblox from $53.00 to $56.00 and gave the company an “outperform” rating in a research report on Thursday, February 8th. Roth Mkm reaffirmed a “buy” rating and issued a $55.00 target price on shares of Roblox in a report on Wednesday, May 1st. Stifel Nicolaus reissued a “buy” rating and set a $53.00 price target on shares of Roblox in a report on Monday, April 22nd. Finally, JPMorgan Chase & Co. upgraded Roblox from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $41.00 to $48.00 in a research report on Tuesday, April 23rd. Four equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $47.60.

Roblox Stock Up 2.2 %

RBLX opened at $40.11 on Tuesday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 14.64. The company has a fifty day moving average of $38.06 and a 200 day moving average of $39.33. Roblox Co. has a fifty-two week low of $24.88 and a fifty-two week high of $47.20.

Roblox (NYSE:RBLX) last issued its quarterly earnings data on Wednesday, February 7th. The company reported ($0.52) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.05. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.05 billion. Roblox had a negative return on equity of 770.71% and a negative net margin of 41.15%. The business’s quarterly revenue was up 25.3% compared to the same quarter last year. During the same quarter last year, the business posted ($0.48) earnings per share. As a group, sell-side analysts forecast that Roblox Co. will post -2.09 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO David Baszucki sold 200,000 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $44.15, for a total value of $8,830,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1 shares of the company’s stock, valued at $44.15. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO David Baszucki sold 200,000 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $44.15, for a total transaction of $8,830,000.00. Following the sale, the chief executive officer now directly owns 1 shares in the company, valued at approximately $44.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gregory Baszucki sold 13,000 shares of Roblox stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $35.08, for a total value of $456,040.00. Following the completion of the transaction, the director now owns 9,747,603 shares of the company’s stock, valued at approximately $341,945,913.24. The disclosure for this sale can be found here. Insiders have sold a total of 712,374 shares of company stock valued at $29,639,338 in the last quarter. 22.15% of the stock is currently owned by insiders.

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.