Private Advisor Group LLC Sells 2,920 Shares of Roblox Co. (NYSE:RBLX)

Private Advisor Group LLC reduced its stake in Roblox Co. (NYSE:RBLX) by 5.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 51,340 shares of the company’s stock after selling 2,920 shares during the quarter. Private Advisor Group LLC’s holdings in Roblox were worth $2,971,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. FMR LLC increased its stake in shares of Roblox by 24.5% during the third quarter. FMR LLC now owns 20,942,691 shares of the company’s stock worth $926,924,000 after purchasing an additional 4,115,286 shares during the period. State Street Corp increased its position in Roblox by 2.3% during the 3rd quarter. State Street Corp now owns 10,855,890 shares of the company’s stock worth $480,482,000 after buying an additional 240,565 shares during the period. ValueAct Holdings L.P. lifted its holdings in shares of Roblox by 340.7% during the third quarter. ValueAct Holdings L.P. now owns 10,135,921 shares of the company’s stock worth $448,616,000 after buying an additional 7,835,921 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Roblox by 5.2% in the third quarter. Geode Capital Management LLC now owns 8,332,563 shares of the company’s stock valued at $368,003,000 after acquiring an additional 408,915 shares during the period. Finally, Two Sigma Advisers LP boosted its position in shares of Roblox by 32.9% in the third quarter. Two Sigma Advisers LP now owns 5,864,800 shares of the company’s stock valued at $259,576,000 after acquiring an additional 1,452,900 shares during the period. 94.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have weighed in on RBLX shares. Roth Mkm lifted their price objective on shares of Roblox from $54.00 to $70.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Roblox from $45.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Morgan Stanley boosted their price target on Roblox from $65.00 to $75.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Piper Sandler restated an “overweight” rating and set a $72.00 price objective (up previously from $65.00) on shares of Roblox in a research note on Tuesday, January 28th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $62.00 target price (up from $56.00) on shares of Roblox in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $64.19.

Insiders Place Their Bets

In other news, insider Manuel Bronstein sold 44,888 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $60.01, for a total transaction of $2,693,728.88. Following the completion of the transaction, the insider now directly owns 573,266 shares in the company, valued at $34,401,692.66. This trade represents a 7.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark Reinstra sold 16,432 shares of Roblox stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $61.39, for a total value of $1,008,760.48. Following the completion of the transaction, the insider now directly owns 322,774 shares in the company, valued at approximately $19,815,095.86. This represents a 4.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,090,297 shares of company stock valued at $67,514,814 in the last ninety days. 22.15% of the stock is currently owned by insiders.

Roblox Trading Down 2.3 %

NYSE RBLX opened at $61.09 on Tuesday. The company has a market cap of $37.82 billion, a price-to-earnings ratio of -42.13 and a beta of 1.46. Roblox Co. has a twelve month low of $29.55 and a twelve month high of $75.74. The company has a quick ratio of 0.98, a current ratio of 1.02 and a debt-to-equity ratio of 4.82. The business’s fifty day moving average is $64.03 and its 200 day moving average is $52.74.

Roblox (NYSE:RBLX) last announced its quarterly earnings results on Thursday, February 6th. The company reported ($0.33) EPS for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.13. Roblox had a negative return on equity of 665.98% and a negative net margin of 25.97%. As a group, sell-side analysts expect that Roblox Co. will post -1.49 EPS for the current fiscal year.

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.