Wedmont Private Capital Invests $493,000 in Roblox Co. (NYSE:RBLX)

Wedmont Private Capital purchased a new position in shares of Roblox Co. (NYSE:RBLX) in the 3rd quarter, Holdings Channel reports. The firm purchased 11,915 shares of the company’s stock, valued at approximately $493,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. PARK CIRCLE Co bought a new position in shares of Roblox in the second quarter valued at $30,000. GAMMA Investing LLC grew its stake in shares of Roblox by 132.8% in the third quarter. GAMMA Investing LLC now owns 929 shares of the company’s stock valued at $41,000 after buying an additional 530 shares in the last quarter. Gilliland Jeter Wealth Management LLC grew its stake in shares of Roblox by 102.4% in the second 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 in the last quarter. Washington Trust Advisors Inc. bought a new position in shares of Roblox in the first quarter valued at $39,000. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Roblox by 98.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,102 shares of the company’s stock valued at $42,000 after buying an additional 548 shares in the last quarter. 91.08% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on RBLX shares. Roth Mkm raised their target price on shares of Roblox from $35.00 to $42.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Wolfe Research began coverage on Roblox in a report on Tuesday, July 16th. They set a “peer perform” rating for the company. Barclays raised their price target on Roblox from $35.00 to $40.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Macquarie raised their price target on Roblox from $46.00 to $50.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Finally, The Goldman Sachs Group raised their price target on Roblox from $38.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Eight analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $46.14.

Roblox Stock Up 0.5 %

Shares of NYSE RBLX opened at $41.60 on Friday. 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 52 week low of $29.55 and a 52 week high of $48.43. The stock has a market capitalization of $24.90 billion, a P/E ratio of -24.19 and a beta of 1.60. The stock’s fifty day moving average is $42.72 and its 200 day moving average is $38.84.

Roblox (NYSE:RBLX) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.32) EPS for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.07. Roblox had a negative return on equity of 1,187.59% and a negative net margin of 34.12%. The company had revenue of $893.50 million for the quarter, compared to analysts’ expectations of $897.88 million. During the same quarter last year, the business earned ($0.46) earnings per share. Roblox’s revenue was up 31.2% on a year-over-year basis. Sell-side analysts forecast that Roblox Co. will post -1.59 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Roblox news, Director Gregory Baszucki sold 13,000 shares of Roblox stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $40.45, for a total value of $525,850.00. Following the transaction, the director now owns 9,708,603 shares in the company, valued at $392,712,991.35. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Roblox news, Director Gregory Baszucki sold 13,000 shares of Roblox stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $40.45, for a total value of $525,850.00. Following the transaction, the director now owns 9,708,603 shares in the company, valued at $392,712,991.35. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Michael Guthrie sold 30,000 shares of Roblox stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $41.50, for a total value of $1,245,000.00. Following the completion of the transaction, the chief financial officer now owns 352,844 shares in the company, valued at approximately $14,643,026. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 625,673 shares of company stock worth $27,331,806. Company insiders own 22.15% of the company’s stock.

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.